New York- based financial guarantee insurer MBIA, Inc. has issued a follow-up bulletin concerning the subpoenas it recently received from the Securities and Exchange Commission and the New York Attorney General’s office “requesting information with respect to non-traditional or loss mitigation insurance products developed, offered or sold by MBIA to third parties from January 1, 1998 to the present” (See IJ Website Nov. 19).
“In a subsequent call made by the Company to the SEC, a representative of the SEC indicated that the investigation will include the reinsurance arrangements entered into by MBIA in 1998 in connection with the bankruptcy of the Delaware Valley Obligated Group (DVOG), an entity that is part of Pittsburgh-based Allegheny Health, Education and Research Foundation (AHERF),” said the announcement.
MBIA also confirmed that it “intends to cooperate fully with the Securities and Exchange Commission and the New York Attorney General’s request for documents.”
Topics New York
Was this article valuable?
Here are more articles you may enjoy.
Lemonade Posts $43M Loss for Q2 as it Continues to Grow Customer Base 
After 55 Years in Florida Insurance, Tom Lynch Reflects on Agencies, Changes Needed 
As US Residential Solar Industry Craters, Florida Bucks Trend 
AI Finding Twice as Many Cyber Flaws in 2026 as It Did in 2025 
