Eric Dinallo

• Court Clears Way for MBIA Split as Company Deals with Detroit-Bond Exposure

  By Mark E. Ruquet, PropertyCasualty360  |  March 6, 2013

  N.Y. State Supreme Court upholds insurance department’s decision to split MBIA in two, but yesterday, subsidiary National Public Finance Guarantee Corp. revealed it has more than $100 million in general-obligation-debt exposure to the city of Detroit.

• Goodbye, Joe

  By Mark Ruquet  |  October 29, 2012

  We’re going to miss Joe. No, not our current vice president: Joe Plumeri, outgoing CEO of Willis Group Holdings.

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  Goodbye, Joe

  By Mark E. Ruquet, PropertyCasualty360.com  |  October 22, 2012

  We are going to miss Joe. No, not the vice president. Joe Plumeri, CEO of Willis Group Holdings.

• BofA Tells Judge MBIA Split Must Be Annulled

  By Karen Freifeld, Reuters  |  May 16, 2012

  Bond insurer MBIA Inc's restructuring during the financial crisis must be annulled because it was based on bad information, a lawyer for banks challenging the restructuring said on Tuesday.

• Banks Set to Argue MBIA Split Was Unreasonable

  By Karen Freifeld, Reuters  |  May 15, 2012

  Bank of America Corp and Societe Generale on Tuesday will begin opening arguments in a New York State courtroom to overturn the 2009 restructuring of bond insurer MBIA Inc.

• MBIA & Banks Go To Trial

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 24, 2012

  After close to three years of legal wrangling, MBIA and a group of banks will finally fight it out in court come May 14 after a New York State judge set a date for trial.

• No Bonuses for MBIA Chief Execs

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 21, 2012

  The senior chief executives of MBIA will not be getting a bonus this year, though the compensation committee agreed that they are entitled to one.

• Fur Flies Between MBIA & Banks

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 13, 2012

  The testiness between guaranty insurer MBIA and a group of banks over insurance coverage of structured financial instruments got more personal as each side accused the other of wrongdoing in court.

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  Moody’s: AIG, MetLife, Prudential Cross SiFi Threshold

  By Arthur D. Postal, PropertyCasualty360.com  |  November 8, 2011

  American International Group, MetLife and Prudential are the three most likely U.S. insurers to be deemed as systemically important enough to be subject to federal as well as state regulation, says Moody’s Investors Service in a report.

• Banks May Proceed With Case Against MBIA

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 30, 2011

  The New York Court of Appeals ruled that a group of banks can go ahead with their lawsuit against MBIA, which questions the validity of the break-up of the insurer.

• Bank Suit Against MBIA Can Continue

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 29, 2011

  The New York Court of Appeals ruled that a group of banks can go ahead with their lawsuit against MBIA, which questions the validity of the break-up of the insurer.

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  NY Times Owns New York-Domiciled Captive

  By Caroline McDonald, PropertyCasualty360.com  |  May 11, 2011

  A page-one New York Times article this week slammed state captive insurance laws, stating that they allow companies to “conduct Bermuda-style financial wizardry” in the U.S., but the Times company, it turns out, has its own captive domiciled in New York.

• Unlike Many Countries, U.S. Doesn’t Allow Cat Reserves For Future Events

  By Chad Hemenway, PropertyCasualty360.com  |  April 4, 2011

  In their assessments of the likely losses the Tohoku earthquake caused to Japanese non-life insurers, prognosticators revealed the companies had accumulated significant residential catastrophe reserves—something that could not be said of insurers in the United States should a similar event happen here.

• Banks Say MBIA Undervalued Losses By As Much As $10B

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 25, 2011

  A group of banks seeking to prevent guaranty insurer MBIA Insurance Corp. from splitting into two companies says the company underestimated its losses by as much as $10 billion to the N.Y. State Insurance Dept.

• Banks Say MBIA Undervalued Losses By As Much As $10B

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 24, 2011

  A group of banks seeking to prevent guaranty insurer MBIA from splitting into two companies says the company underestimated its losses by as much as $10 billion to the New York Insurance Department.

• MBIA Split Panned By Four Former N.Y. Regulators

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 18, 2011

  Banks fighting the split of MBIA Insurance Corp. into two companies said they submitted affidavits from four former New York insurance superintendents stating that the N.Y. State Insurance Dept. violated its duty by allowing the insurer to make the move.