POLICYHOLDER DOCUMENTATION
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Financial Guaranty Insurance Company (FGIC) Covered Policies Under MBIA Reinsurance Transaction (revised as of 11/30/11)
(The Covered Policies list includes FGIC-insured credits reinsured by MBIA on 9/30/08 and an additional set of policies reinsured by MBIA on 12/1/08 and 07/17/09. As part of MBIA Inc.’s establishment of MBIA Insurance Corp. of Illinois (“MBIA Illinois”) as a new U.S. public finance financial guarantee insurance company within the MBIA Inc. group on 2/17/09, MBIA Insurance Corporation ceded to MBIA Illinois, effective 1/1/09, all of its U.S. public finance policies, including assigning its rights and obligations with respect to the U.S. public finance business of FGIC that was reinsured by MBIA Insurance Corporation.)
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2/17/2009: MBIA Illinois* Reinsurance Agreement,
Effective January 1, 2009 (Amended and restated on 3/11/09 to incorporate comments received from the rating agencies)
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Covered Policies: (excerpted from Section 2.01 of the Reinsurance Agreement) This Agreement shall cover all insurance policies in effect as of the Effective Date and issued or reinsured by the Company prior to the Effective Date that provide insurance against financial loss by reason of nonpayment of obligations arising under Issues sold or created by Issuers and characterized by the Company as United States public finance business, other than policies reinsured by the Company under the FGIC Reinsurance Agreement (collectively, the "Covered Policies").
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2/17/2009: FGIC Assignment Agreement to MBIA Illinois* Effective January 1, 2009
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2/17/2009: MBIA Illinois* Second-to-Pay Policy for MBIA Insurance Corp. Policyholders Effective January 1, 2009
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2/17/2009: MBIA Illinois* Second-to-Pay Policy for FGIC Policyholders Effective January 1, 2009
* MBIA Illinois has been renamed National Public Finance Guarantee Corporation ("National")