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Note 10 - Financial Guaranty Insurance Contracts (Tables) | 6 Months Ended
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Jun. 30, 2014
Financial Guaranty Insurance Contracts [Abstract] |
Schedule of Insured Financial Obligations with Credit Deterioration [Table Text Block] | The following table includes information as of June 30, 2014 regarding our financial guaranty claim liabilities on non-derivative transactions, segregated by the surveillance categories that we use in monitoring the risks related to these contracts:
| Surveillance Categories
($ in thousands) | Performing |  | Special Mention |  | Intensified Surveillance |  | Case Reserve |  | Total
Number of policies | 5 |  |  | 173 |  |  | 97 |  |  | 79 |  |  | 354 |
Remaining weighted-average contract period (in years) | 21 |  |  | 16 |  |  | 19 |  |  | 18 |  |  | 17 |
Insured contractual payments outstanding: |  |  |  |  |  |  |  |  |
Principal | $ | 1,443 |  |  | $ | 1,018,341 |  |  | $ | 681,284 |  |  | $ | 93,356 |  |  | $ | 1,794,424 |
Interest | 159 |  |  | 536,743 |  |  | 384,351 |  |  | 25,376 |  |  | 946,629 |
Total | $ | 1,602 |  |  | $ | 1,555,084 |  |  | $ | 1,065,635 |  |  | $ | 118,732 |  |  | $ | 2,741,053 |
Gross claim liability | $ | 1 |  |  | $ | 16,543 |  |  | $ | 246,341 |  |  | $ | 32,031 |  |  | $ | 294,916 |
Less: |  |  |  |  |  |  |  |  |
Gross potential recoveries | — |  |  | 1,442 |  |  | 309,894 |  |  | 54,512 |  |  | 365,848 |
Discount, net | — |  |  | 2,414 |  |  | (120,205 | ) |  | (612 | ) |  | (118,403 | )
Net claim liability (asset) (prior to reduction for unearned premium) | $ | 1 |  |  | $ | 12,687 |  |  | $ | 56,652 |  |  | $ | (21,869 | ) |  | $ | 47,471 |
Unearned premium revenue | $ | 6 |  |  | $ | 16,125 |  |  | $ | 10,673 |  |  | $ | — |  |  | $ | 26,804 |
Net claim liability (asset) reported in the balance sheet | $ | — |  |  | $ | 5,212 |  |  | $ | 49,516 |  |  | $ | (21,869 | ) |  | $ | 32,859 |
Reinsurance recoverables | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Adjustments to Premiums Earned Financial Guaranty Contracts [Table Text Block] | Premiums earned were affected by the following for the periods indicated:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands) | 2014 |  | 2013 |  | 2014 |  | 2013
Refundings | $ | 6,073 |  |  | $ | 10,288 |  |  | $ | 8,190 |  |  | $ | 15,041 |
Recaptures/Commutations | — |  |  | — |  |  | — |  |  | (2,447 | )
Adjustments to installment premiums, gross of commissions | 22 |  |  | (10 | ) |  | 161 |  |  | 2,682 |
Unearned premium acceleration upon establishment of case reserves | 62 |  |  | 4 |  |  | 62 |  |  | 69 |
Foreign exchange revaluation, gross of commissions | 6 |  |  | (319 | ) |  | 320 |  |  | (1,087 | )
Total adjustment to premiums earned | $ | 6,163 |  |  | $ | 9,963 |  |  | $ | 8,733 |  |  | $ | 14,258 |
Financial Guarantee Insurance Contracts Future Premium Revenue to be Recognized [Table Text Block] | The following table shows the expected contractual premium revenue from our existing financial guaranty portfolio, assuming no refundings of any financial guaranty obligations, as of June 30, 2014:
(In thousands) | Ending Net Unearned Premiums |  | Unearned Premium Amortization |  | Accretion |  | Total Premium Revenue
3 rd quarter 2014 | $ | 163,413 |  |  | $ | 7,959 |  |  | $ | 193 |  |  | $ | 8,152 |
4 th quarter 2014 | 158,908 |  |  | 4,505 |  |  | 191 |  |  | 4,696 |
2014 | 158,908 |  |  | 12,464 |  |  | 384 |  |  | 12,848 |
2015 | 143,082 |  |  | 15,826 |  |  | 719 |  |  | 16,545 |
2016 | 129,579 |  |  | 13,503 |  |  | 657 |  |  | 14,160 |
2017 | 117,700 |  |  | 11,878 |  |  | 617 |  |  | 12,495 |
2018 | 106,535 |  |  | 11,166 |  |  | 562 |  |  | 11,728 |
2014 - 2018 | 106,535 |  |  | 64,837 |  |  | 2,939 |  |  | 67,776 |
2019 - 2023 | 60,317 |  |  | 46,218 |  |  | 2,148 |  |  | 48,366 |
2024 - 2028 | 29,858 |  |  | 30,459 |  |  | 1,368 |  |  | 31,827 |
2029 - 2033 | 12,701 |  |  | 17,157 |  |  | 872 |  |  | 18,029 |
After 2033 | — |  |  | 12,701 |  |  | 1,009 |  |  | 13,710 |
Total | $ | — |  |  | $ | 171,372 |  |  | $ | 8,336 |  |  | $ | 179,708 |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] | The following table shows the significant components of changes in our financial guaranty claim liability for the three and six months ended June 30, 2014 and 2013, excluding reserves related to our trade credit reinsurance and surety business of $1.9 million and $2.0 million, respectively, which are excluded from the accounting standard regarding accounting for financial guaranty insurance contracts by insurance enterprises.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands) | 2014 |  | 2013 |  | 2014 |  | 2013
Claim liability at beginning of period | $ | 27,815 |  |  | $ | 22,469 |  |  | $ | 19,458 |  |  | $ | 64,291 |
Incurred losses and LAE: |  |  |  |  |  |  |
Increase (decrease) in gross claim liability | 18,979 |  |  | (36,381 | ) |  | 27,119 |  |  | (27,991 | )
Decrease in gross potential recoveries | 13,188 |  |  | 30,389 |  |  | 46,146 |  |  | 26,443 |
(Increase) decrease in discount | (28,002 | ) |  | 9,688 |  |  | (59,759 | ) |  | 6,133 |
Decrease (increase) in unearned premiums | 839 |  |  | 84 |  |  | (3,271 | ) |  | (713 | )
Incurred losses and LAE | 5,004 |  |  | 3,780 |  |  | 10,235 |  |  | 3,872 |
Paid losses and LAE: |  |  |  |  |  |  |
Current year | (23 | ) |  | (34 | ) |  | (23 | ) |  | (33 | )
Prior years | 63 |  |  | (2,604 | ) |  | 3,189 |  |  | (44,519 | )
Paid losses and LAE | 40 |  |  | (2,638 | ) |  | 3,166 |  |  | (44,552 | )
Claim liability at June 30 | $ | 32,859 |  |  | $ | 23,611 |  |  | $ | 32,859 |  |  | $ | 23,611 |
Components of incurred losses and LAE: |  |  |  |  |  |  |
Claim liability established in current period | $ | 11,103 |  |  | $ | 279 |  |  | $ | 12,143 |  |  | $ | 383 |
Changes in existing claim liabilities | (6,099 | ) |  | 3,501 |  |  | (1,908 | ) |  | 3,489 |
Total incurred losses and LAE | $ | 5,004 |  |  | $ | 3,780 |  |  | $ | 10,235 |  |  | $ | 3,872 |
Components of increase in discount: |  |  |  |  |  |  |
Increase in discount related to claim liabilities established in current period | $ | (3,566 | ) |  | $ | (37 | ) |  | $ | (4,057 | ) |  | $ | (165 | )
(Increase) decrease in discount related to existing claim liabilities | (24,436 | ) |  | 9,725 |  |  | (55,702 | ) |  | 6,298 |
Total (increase) decrease in discount | $ | (28,002 | ) |  | $ | 9,688 |  |  | $ | (59,759 | ) |  | $ | 6,133 |
Schedule or Description of Weighted Average Discount Rate [Table Text Block] | The weighted-average risk-free rates used to discount the gross claim liability and gross potential recoveries on our financial guaranty contracts were as follows, as of the dates indicated:
June 30, 2014 | 2.63 | %
December 31, 2013 | 2.95 | %
June 30, 2013 | 2.29 | %
December 31, 2012 | 2.00 | %

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 55 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=34726416&loc=SL5751140-161288 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 9 -Subparagraph (a)(5), (b)(1) -URI http://asc.fasb.org/extlink&oid=6933314&loc=SL5749324-161292 + Details
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- Definition Tabular disclosure of the average discount rate in the country of origin applied to insurance contracts to determine future policy benefits to be paid to or on behalf of policyholders and the methodology and assumptions for calculating the discount rate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6482852&loc=d3e14931-158439 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6482714&loc=d3e14881-158438 + Details
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