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Loss And Loss Adjustment Expense Reserves (Tables)

9 Months Ended

Sep. 30, 2011

Loss And Loss Adjustment Expense Reserves [Abstract]

Schedule Of Losses And Loss Adjustment Expenses


Losses and LAE		Nine Months Ended September 30, 2011
In millions		Second-lien RMBS				Other				Total
Losses and LAE related to actual and expected payments		$	157			$	98			$	255
Recoveries of actual and expected payments			(122	)			73				(49	)

Gross losses incurred			35				171				206
Reinsurance			0				(2	)			(2	)

Losses and LAE		$	35			$	169			$	204

Schedule Of Financial Guarantees And Related Claim Liability

		Surveillance Categories
$ in millions		Caution List Low				Caution List Medium				Caution List High				Classified List				Total
Number of policies			50				28				14				194				286
Number of issues⁽¹⁾			33				18				11				126				188
Remaining weighted average contract period (in years)			7.9				6.1				6.0				8.8				8.3
Gross insured contractual payments outstanding⁽²⁾:
Principal		$	4,728			$	974			$	543			$	10,753			$	16,998
Interest			2,743				334				139				5,509				8,725

Total		$	7,471			$	1,308			$	682			$	16,262			$	25,723

Gross claim liability		$	-			$	-			$	-			$	1,988			$	1,988
Less:
Gross potential recoveries			-				-				-				3,632				3,632
Discount, net			-				-				-				172				172

Net claim liability (recoverable)		$	-			$	-			$	-			$	(1,816	)		$	(1,816	)

Unearned premium revenue		$	161			$	14			$	3			$	135			$	313
(1) - An "issue" represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments. (2) - Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.

The following table provides information about the financial guarantees and related claim liability included in each of MBIA's surveillance categories as of December 31, 2010:


		Surveillance Categories
$ in millions		Caution List Low				Caution List Medium				Caution List High				Classified List				Total
Number of policies			199				43				12				179				433
Number of issues⁽¹⁾			40				26				12				110				188
Remaining weighted average contract period (in years)			9.4				6.9				9.1				9.4				9.2
Gross insured contractual payments outstanding⁽²⁾:
Principal		$	5,041			$	1,419			$	1,446			$	11,190			$	19,096
Interest			3,439				536				746				6,132				10,853

Total		$	8,480			$	1,955			$	2,192			$	17,322			$	29,949

Gross claim liability		$	-			$	-			$	-			$	2,692			$	2,692
Less:
Gross potential recoveries			-				-				-				4,045				4,045
Discount, net			-				-				-				27				27

Net claim liability (recoverable)		$	-			$	-			$	-			$	(1,380	)		$	(1,380	)

Unearned premium revenue		$	148			$	16			$	72			$	141			$	377
(1) - An "issue" represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments. (2) - Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.

Schedule Of Insurance Loss Reserves And Recoverables For Insured Obligations


In millions		As of September 30, 2011				As of December 31, 2010
Loss reserves (claim liability)		$	873			$	1,059
LAE reserves			59				70

Loss and LAE reserves		$	932			$	1,129


Insurance claim loss recoverable		$	(2,761	)		$	(2,531	)
LAE insurance loss recoverable			(9	)			-

Insurance loss recoverable		$	(2,770	)		$	(2,531	)


Reinsurance recoverable on unpaid losses		$	16			$	14
Reinsurance recoverable on LAE reserves			0				1
Reinsurance recoverable on paid losses			2				0

Reinsurance recoverable on paid and unpaid losses		$	18			$	15

Schedule Of Company's Second-Lien RMBS Exposure Gross Undiscounted Claim Liability And Potential Recoveries Before The Elimination Of Amounts Related To Consolidated VIE's


Second-lien RMBS Exposure						Outstanding								Gross Undiscounted
						Gross				Gross				Claim				Potential
$ in billions		Issues				Principal				Interest				Liability				Recoveries
Insured issues designated as "Classified List"			34			$	7.9			$	3.1			$	0.7			$	4.2
Loan files reviewed with potential recoveries			27			$	7.5			$	3.0			$	0.7			$	4.2

Schedule Of Loss And Loss Adjustment Expenses Reserve


In millions				Changes in Loss and LAE Reserves for the Nine Months Ended September 30, 2011																																Gross Loss and LAE Reserve as of September 30, 2011
Gross Loss and LAE Reserve as of December 31, 2010				Loss Payments for Cases with Reserves				Accretion of Claim Liability Discount				Changes in Discount Rates				Changes in Timing of Payments				Changes in Amount of Net Payments				Changes in Assumptions				Changes in Unearned Premium Revenue				Change in LAE Reserves
$	1,129			$	(431	)		$	12			$	9			$	37			$	(2	)		$	168			$	22			$	(12	)		$	932

Schedule Of Insurance Loss Recoverable And Changes In Recoveries On Unpaid Losses


		Changes in Insurance Loss Recoverable and Recoveries on Unpaid Losses for the Nine Months Ended September 30, 2011
In millions		Gross Reserve as of December 31, 2010				Collections for Cases with Recoveries				Accretion of Recoveries				Changes in Discount Rates				Changes in Timing of Collections				Changes in Amount of Collections				Changes in Assumptions				Change in LAE Recoveries				Gross Reserve as of September 30, 2011
Insurance Loss Recoverable		$	2,531			$	(5	)		$	48			$	47			$	-			$	(175	)		$	315			$	9			$	2,770
Recoveries on Unpaid Losses			896				-				13				60				-				-				(297	)			15				687

Total		$	3,427			$	(5	)		$	61			$	107			$	-			$	(175	)		$	18			$	24			$	3,457

Schedule Of Total Estimated Recoveries From Ineligible Second-lien Mortgage Loans


In millions																				Total Estimated
Total Estimated Recoveries from Ineligible Second-lien Loans as of December 31, 2010				Accretion of Future Collections				Changes in Discount Rates				Recoveries (Collections)				Changes in Assumptions				Recoveries from Ineligible Second-lien Loans as of September 30, 2011
$	2,517			$	55			$	33			$	-			$	213			$	2,818

Schedule Of Expenses Related To Remedial Actions For Insured Obligations


		Three Months Ended September 30,								Nine Months Ended September 30,
In millions		2011				2010				2011				2010
Loss adjustment expense incurred, gross		$	31			$	14			$	76			$	30
Loss adjustment expense incurred, net		$	31			$	14			$	76			$	29

Tabular disclosure of insured financial obligations with credit deterioration related to the claim liability on financial guarantee insurance contracts as of the end of each annual and interim reporting period detailing, at a minimum, the following for each surveillance category or grouping used to track and monitor the entity's insured financial obligations: (1) number of issued and outstanding financial guarantee insurance contracts; (2) remaining weighted average contract period; (3) insured contractual payments outstanding, segregating principal and interest; (4) gross claim liability; (5) gross potential recoveries; (6) net discount of both the claim liability and potential recoveries; (7) net claim liability; (8) reinsurance recoverable; and (9) unearned premium revenue.

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