Bond Insurance Underwriting Standards Expert

Case Description:

A bond insurance underwriting standards expert was needed for an insurance dispute involving claimed negligent underwriting in connection with financial guaranty insurance issued for a municipal bond. A financial guaranty insurer alleged that misrepresentations and omissions made in connection with underwriting a bond insurance policy caused the insurer to incur substantial financial losses when payments under the bond went into default.

IMS ExpertServices was asked to locate a bond insurance underwriting standards expert with expertise in industry standards and practices for underwriting bond insurance and issuance of financial guaranty insurance policies. This expert was required to have significant knowledge of financial guaranty underwriting guidelines and due diligence requirements.

Experts Presented:

  • Audit Negligence

    As president of an investment banking and consulting firm, this expert has over thirty years of financial accounting experience, having served as vice-president and senior fixed income analyst for a national investment firm. He has significant experience in issuance of municipal bonds, having participated in due diligence efforts of a regional investment banking firm in connection with the issuance of municipal bonds secured by a publicly held home builder. He has participated in risk management and has procured bank letter of credit enhancements totaling more than $400 million in connection with more than ten municipal bond transactions. He has authored several industry journal articles on topics relating to accounting negligence, audit standards, and insurance, and is a frequent guest speaker. He holds an M.A. in accountancy and a B.A. in history. IMS Reference #4995413.

  • Bond Insurance Underwriting

    With over twenty-five years of financial services experience including underwriting due diligence, this expert is president and founder of a financial consulting firm which focuses on structured finance and risk management in insurance, derivatives, and capital markets. He previously held senior staff positions at leading insurance and reinsurance companies, brokerage firms, and financial consulting firms. He is one of the founding officers of a triple-A rated financial guaranty insurance company capitalized by a banking institution and affiliated with major bond insurance and guarantor, where he was responsible for creating the capitalization business plan, acting as rating agency liaison, the creation of new products, and meeting due diligence requirements. He has significant experience in underwriting, having served previously as lead underwriter and manager of numerous financial guaranty transactions. He holds a B.A. in economics and a minor in mathematics and philosophy. IMS Reference #5076254.

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Industry: All, Insurance