Lawyers applaud bond insurer disclosure

Author: Lynann Butkiewicz | Published: 29 May 2008

The release of the US Financial Accounting Standard Board's (Fasb) new standard last week has lawyers embracing the idea of more disclosure and transparency among bond insurers.

Fasb Statement 163, Accounting for Financial Guarantee Insurance Contracts, enforces the idea of written financial guarantees where the insurers must report if there is a suspicion that a...