monoline insurer

/ ˈmɒnəʊˌlaɪn /

noun

1. an insurer who undertakes to repay the principal and interest on a bond should the issuer default Also calledmonoline insurance company

Example Sentences

They contended the Blackstone did not properly disclose the value of its investments in three companies – a monoline insurer, a semiconductor manufacturer and a real estate company.

From New York Times

The continuing battle that is being fought on the most fronts is between Bank of America — the bank that made the critical mistake of acquiring Countrywide Financial, once the country’s largest mortgage lender — and MBIA, the troubled monoline insurer that now warns it may not be able to keep paying claims on structured finance securities unless the bank pays it billions for the sins of Countrywide.

From New York Times