Losses and lawsuits

Monolines

risk-0508-32-gif

Battered by downgrades and escalating writedowns, and forced into emergency capital raising, the last thing monoline insurance companies need is further bad press. Yet two separate lawsuits, filed in New York in March, could further damage their reputations and cause the market to question the validity and enforceability of monoline guarantees.

The suits involve New York-based Financial Guaranty Insurance Company (FGIC) and XL Capital Assurance (XLCA), the financial guarantee subsidiary of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here