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Loss and Loss Adjustment Expense Reserves (Tables)
 12 Months Ended
Dec. 31, 2020
Text Block [Abstract]  
Present Value Of The Probability-Weighted Future Claim Payments And Recoveries
    
As
 
of
 
December 31,
 
2020
     
As
 
of
 
December 31,
 
2019
  
In millions
   
Balance Sheet Line Item
     
Balance Sheet Line Item
  
    
Insurance
loss
recoverable
     
Loss
 
and
LAE
reserves
(2)
     
Insurance
loss
recoverable
     
Loss
 
and
LAE
reserves
(2)
  
U.S. Public Finance Insurance
    $ 1,220      $ 469      $ 911      $ 432  
International and Structured Finance Insurance:
                                    
Before VIE eliminations
(1)
      1,082        780        1,286        749  
VIE eliminations
(1)
      (625)        (259)        (503)        (280)  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total international and structured finance insurance
      457        521        783        469  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 1,677      $ 990      $ 1,694      $ 901  
    
 
 
     
 
 
     
 
 
     
 
 
  
 
(1)—Includes loan repurchase commitments of $604 million and $486 million as of December 31, 2020 and 2019, respectively.
(2)—Amounts are net of expected recoveries.
Schedule Of Loss And Loss Adjustment Expenses Reserves
In millions
   
Changes in Loss and LAE Reserves for the Year Ended December 31, 2020
         
Gross Loss and
LAE
Reserves as of
December 31,
2019
(1)
   
Loss Payments
     
Accretion of
Claim Liability
Discount
     
Changes in
Discount Rates
     
Changes in
Assumptions
     
Changes in
Unearned
Premium
Revenue
     
Other
     
Gross Loss
and LAE
Reserves as of
December 31,
2020
(1)
  
$        901
    $ (441)      $ 11      $ (86)      $ 606      $ 8     
$
 (9)      $ 990  
 
   
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
(1)—Includes changes in amount and timing of estimated payments and recoveries.
 
In millions
   
Changes in Loss and LAE Reserves for the Year Ended December 31, 2019
         
Gross Loss and
LAE
Reserves as of
December 31,
2018
(1)
   
Loss
Payments
     
Accretion of
Claim
Liability
Discount
     
Changes in
Discount
Rates
     
Changes in
Assumptions
     
Changes in
Unearned
Premium
Revenue
     
Changes in
LAE
Reserves
     
Other
     
Gross Loss
and LAE
Reserves as of
December 31,
2019
(1)
  
$        965
    $ (431)      $ 18      $ (54)      $ 407     
$
 23      $ (26)      $ (1)      $ 901  
 
   
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
(1)—Includes changes in amount and timing of estimated payments and recoveries.
Schedule Of Insurance Loss Recoverable
           
Changes in Insurance Loss Recoverable

for the Year Ended December 31, 2020
         
In millions
  
Gross
Reserve as of
December 31,
2019
    
Collections
for Cases
    
Accretion
of
Recoveries
    
Changes
in
Discount
Rates
    
Changes in
Assumptions
(1)
    
Other
    
Gross
Reserve as of
December 31,
2020
  
Insurance loss recoverable
    $ 1,694      $ (49)      $ 14      $ 115      $ (94)      $ (3)      $ 1,677  
 
(1)—Includes amounts related to paid claims and LAE.
 
           
Changes in Insurance Loss Recoverable
for the Year Ended December 31, 2019
         
In millions
  
Gross
Reserve as of
December 31,
2018
    
Collections
for Cases
    
Accretion of
Recoveries
    
Changes in
Discount
Rates
    
Changes in
Assumptions
(1)
    
Other
(2)
    
Gross
Reserve as of
December 31,
2019
  
Insurance loss recoverable
    $ 1,595      $ (148)      $ 35      $ 70      $ 105      $ 37      $ 1,694  
 
(1)—Includes amounts related to paid claims and LAE that are expected to be recovered in the future.
(2)—Primarily changes in amount and timing of collections.
Schedule Of Financial Guarantees And Related Claim Liability
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, 2020:
 
    
Surveillance Categories
  
    
Caution
     
Caution
     
Caution
                
    
List
     
List
     
List
     
Classified
         
$ in millions
   
Low
     
Medium
     
High
     
List
     
Total
  
Number of policies
      46        16        —        219        281  
Number of issues
(1)
      16        3        —        100        119  
Remaining weighted average contract period (in years)
      6.4        6.4        —        7.9        7.4  
Gross insured contractual payments outstanding:
(2)
                                             
Principal
    $ 1,422      $ 123      $ —      $ 3,302      $ 4,847  
Interest
      1,974        54        —        1,441        3,469  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 3,396      $ 177      $ —      $ 4,743      $ 8,316  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Gross Claim Liability
(3)
    $ —      $ —      $ —      $ 1,088      $ 1,088  
Less:
                                             
Gross Potential Recoveries
(4)
      —        —        —        1,947        1,947  
Discount, net
(5)
      —        —        —        (173)        (173)  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Net claim liability (recoverable)
    $ —      $ —      $ —      $ (686)      $ (686)  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Unearned premium revenue
    $ 10      $ —      $ —      $ 35      $ 45  
Reinsurance recoverable on paid and unpaid losses
(6)
                                        $ 11  
 
(1)—An “issue” represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments on the insured debt.
(2)—Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.
(3)—The gross claim liability with respect to Puerto Rico exposures are net of expected recoveries for policies in a net payable position.
(4)—Gross potential recoveries with respect to certain Puerto Rico exposures are net of the claim liability for policies in a net recoverable position.
(5)—Represents discount related to Gross Claim Liability and Gross Potential Recoveries.
(6)—Included in “Other assets” on the Company’s consolidated balance sheets.
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, 2019:
 
    
Surveillance Categories
  
    
Caution
     
Caution
     
Caution
                
    
List
     
List
     
List
     
Classified
         
$ in millions
   
Low
     
Medium
     
High
     
List
     
Total
  
Number of policies
      45        19        —        212        276  
Number of issues
(1)
      13        5        —        94        112  
Remaining weighted average contract period (in years)
      7.3        7.2        —        7.9        7.7  
Gross insured contractual payments outstanding:
(2)
                                             
Principal
    $ 1,546      $ 248      $ —      $ 3,794      $ 5,588  
Interest
      2,107        110        —        1,668        3,885  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 3,653      $ 358      $ —      $ 5,462      $ 9,473  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Gross Claim Liability
(3)
    $ —      $ —      $ —      $ 965      $ 965  
Less:
                                             
Gross Potential Recoveries
(4)
      —        —        —        2,184        2,184  
Discount, net
(5)
      —        —        —        (453)        (453)  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Net claim liability (recoverable)
    $ —      $ —      $ —      $ (766)      $ (766)  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Unearned premium revenue
    $ 6      $ 3      $ —      $ 39      $ 48  
Reinsurance recoverable on paid and unpaid losses
(6)
 
                               $ 19  
 
(1)—An “issue” represents the aggregate of financial guarantee policies that share the same revenue source for purposes of making debt service payments on the insured debt.
(2)—Represents contractual principal and interest payments due by the issuer of the obligations insured by MBIA.
(3)—The gross claim liability with respect to Puerto Rico exposures are net of expected recoveries for policies in a net payable position.
(4)—Gross potential recoveries with respect to certain Puerto Rico exposures are net of the claim liability for policies in a net recoverable position.
(5)—Represents discount related to Gross Claim Liability and Gross Potential Recoveries.
(6)—Included in “Other assets” on the Company’s consolidated balance sheets.