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Loss and Loss Adjustment Expense Reserves (Tables) | 9 Months Ended
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Sep. 30, 2014
Text Block [Abstract] |
Schedule Of Losses And Loss Adjustment Expenses |
|  |  | Nine Months Ended September 30, 2014 |
|  |  |  | Second-lien |  | First-lien |  |  |  |  |
| In millions |  | RMBS |  | RMBS |  | Other(1) |  | Total |
| Losses and LAE related to expected payments |  | $ | 13 |  | $ | 43 |  | $ | (112) |  | $ | (56) |
| Recoveries of expected payments |  |  | 75 |  |  | (4) |  |  | 67 |  |  | 138 |
| Gross losses incurred |  |  | 88 |  |  | 39 |  |  | (45) |  |  | 82 |
| Reinsurance |  |  | - |  |  | - |  |  | - |  |  | - |
| Losses and LAE expense (benefit) |  | $ | 88 |  | $ | 39 |  | $ | (45) |  | $ | 82 |
| ________________ |
| (1) - Includes ABS CDOs, CMBS, U.S. public finance and other issues. |
Schedule Of Financial Guarantees And Related Claim Liability |
|  |  |  |  | Surveillance Categories
|  |  |  |  | Caution |  | Caution |  | Caution |  |  |  |  |  |
|  |  |  |  | List |  | List |  | List |  | Classified |  |  |
$ in millions |  | Low |  | Medium |  | High |  | List |  | Total
Number of policies |  |  | 46 |  |  | 102 |  |  | 6 |  |  | 185 |  |  | 339
Number of issues(1) |  |  | 21 |  |  | 10 |  |  | 5 |  |  | 120 |  |  | 156
Remaining weighted average contract |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| period (in years) |  |  | 8.7 |  |  | 11.4 |  |  | 10.0 |  |  | 8.5 |  |  | 9.0
Gross insured contractual payments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| outstanding:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Principal |  | $ | 2,648 |  | $ | 1,735 |  | $ | 162 |  | $ | 7,879 |  | $ | 12,424
|  | Interest |  |  | 2,137 |  |  | 957 |  |  | 87 |  |  | 4,089 |  |  | 7,270
|  |  | Total |  | $ | 4,785 |  | $ | 2,692 |  | $ | 249 |  | $ | 11,968 |  | $ | 19,694
Gross Claim Liability |  | $ | - |  | $ | - |  | $ | - |  | $ | 841 |  | $ | 841
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross Potential Recoveries |  |  | - |  |  | - |  |  | - |  |  | 798 |  |  | 798
| Discount, net(3) |  |  | - |  |  | - |  |  | - |  |  | 120 |  |  | 120
Net claim liability (recoverable) |  | $ | - |  | $ | - |  | $ | - |  | $ | (77) |  | $ | (77)
Unearned premium revenue |  | $ | 86 |  | $ | 34 |  | $ | 5 |  | $ | 88 |  | $ | 213
__________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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.
(3) - Represents discount related to Gross Claim Liability and Gross Potential Recoveries.
|  |  |  |  | Surveillance Categories
|  |  |  |  | Caution |  | Caution |  | Caution |  |  |  |  |  |
|  |  |  |  | List |  | List |  | List |  | Classified |  |  |
$ in millions |  | Low |  | Medium |  | High |  | List |  | Total
Number of policies |  |  | 83 |  |  | 19 |  |  | 5 |  |  | 192 |  |  | 299
Number of issues(1) |  |  | 26 |  |  | 14 |  |  | 4 |  |  | 136 |  |  | 180
Remaining weighted average contract |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| period (in years) |  |  | 11.0 |  |  | 4.9 |  |  | 11.5 |  |  | 9.5 |  |  | 9.7
Gross insured contractual payments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| outstanding:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Principal |  | $ | 5,290 |  | $ | 1,073 |  | $ | 40 |  | $ | 7,861 |  | $ | 14,264
|  | Interest |  |  | 3,829 |  |  | 253 |  |  | 24 |  |  | 4,526 |  |  | 8,632
|  |  | Total |  | $ | 9,119 |  | $ | 1,326 |  | $ | 64 |  | $ | 12,387 |  | $ | 22,896
Gross Claim Liability |  | $ | - |  | $ | - |  | $ | - |  | $ | 1,235 |  | $ | 1,235
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross Potential Recoveries |  |  | - |  |  | - |  |  | - |  |  | 1,085 |  |  | 1,085
| Discount, net(3) |  |  | - |  |  | - |  |  | - |  |  | 205 |  |  | 205
Net claim liability (recoverable) |  | $ | - |  | $ | - |  | $ | - |  | $ | (55) |  | $ | (55)
Unearned premium revenue |  | $ | 112 |  | $ | 19 |  | $ | - |  | $ | 96 |  | $ | 227
__________
(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.
(3) - Represents discount related to Gross Claim Liability and Gross Potential Recoveries.
Present Value Of The Probability-Weighted Future Claim Payments And Recoveries |
|  |  |  | As of |  | As of |
| In millions |  | September 30, 2014 |  | December 31, 2013 |
| Loss reserves (claim liability) |  | $ | 449 |  | $ | 580 |
| LAE reserves |  |  | 68 |  |  | 61 |
|  | Loss and LAE reserves |  | $ | 517 |  | $ | 641 |
| Insurance claim loss recoverable |  | $ | (568) |  | $ | (694) |
| LAE insurance loss recoverable |  |  | (7) |  |  | - |
|  | Insurance loss recoverable |  | $ | (575) |  | $ | (694) |
| Reinsurance recoverable on unpaid losses |  | $ | 6 |  | $ | 7 |
| Reinsurance recoverable on unpaid LAE reserves |  |  | 1 |  |  | 1 |
|  | Reinsurance recoverable on paid and unpaid losses |  | $ | 7 |  | $ | 8 |
Schedule Of Company's Second-Lien RMBS Exposure, Gross Undiscounted Claim Liability And Potential Recoveries, Excluding Amounts Related To Consolidated VIE's |
Second-lien RMBS Exposure |  |  |  | Outstanding |  | Gross Undiscounted
|  |  |  |  | Gross |  | Gross |  | Claim |  | Potential
$ in billions |  | Issues |  | Principal |  | Interest |  | Liability |  | Recoveries
Non-consolidated VIEs |  | 24 |  | $ | 3.1 |  | $ | 1.0 |  | $ | 0.1 |  | $ | 0.6
Consolidated VIEs |  | 11 |  | $ | 1.5 |  | $ | 0.5 |  | $ | - |  | $ | 0.5
Schedule Of Loss And Loss Adjustment Expenses Reserves |
In millions |  | Changes in Loss and LAE Reserves for the Nine Months Ended September 30, 2014 |  |  |
Gross Loss |  | Loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Loss
and LAE |  | Payments |  | Accretion |  |  |  |  |  |  |  | Changes in |  |  |  |  |  |  |  | and LAE
Reserves as of |  | for Cases |  | of Claim |  | Changes in |  |  |  | Unearned |  | Changes in |  |  |  | Reserves as of
December 31, |  | with |  | Liability |  | Discount |  | Changes in |  | Premium |  | LAE |  |  |  | September 30,
2013 |  | Reserves |  | Discount |  | Rates |  | Assumptions |  | Revenue |  | Reserves |  | Other(1) |  | 2014
$ | 641 |  | $ | (131) |  | $ | 11 |  | $ | 42 |  | $ | (48) |  | $ | 17 |  | $ | 7 |  | $ | (22) |  | $ | 517
____________
(1) - Primarily changes in amount and timing of payments.
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, 2014 |  |  |
|  |  |  |  | Collections |  |  |  |  |  |  |  |  |  |  |
|  |  | As of |  | for Cases |  | Accretion |  | Changes in |  |  |  |  | Changes in |  |  |  | As of
|  |  | December 31, |  | with |  | of |  | Discount |  | Changes in |  | LAE |  |  |  | September 30,
In millions |  | 2013 |  | Recoveries |  | Recoveries |  | Rates |  | Assumptions |  | Recoveries |  | Other(1) |  | 2014
Insurance loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| recoverable |  | $ | 694 |  | $ | (84) |  | $ | 10 |  | $ | 10 |  | $ | (63) |  | $ | 7 |  | $ | 1 |  | $ | 575
Recoveries on unpaid |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| losses |  |  | 206 |  |  | - |  |  | 3 |  |  | 12 |  |  | (128) |  |  | 2 |  |  | - |  |  | 95
Total |  | $ | 900 |  | $ | (84) |  | $ | 13 |  | $ | 22 |  | $ | (191) |  | $ | 9 |  | $ | 1 |  | $ | 670
____________
(1) Primarily changes in amount and timing of collections.
Schedule Of Expenses Related To Remedial Actions For Insured Obligations |
|  |  | Nine Months Ended September 30, |
| In millions |  | 2014 |  | 2013 |
| Loss adjustment expense incurred, gross |  | $ | 37 |  | $ | 31 |

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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=6933462&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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