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Insurers pledge to honor insured Detroit bonds
Q
Are the insurance companies going to come through and honor their word – to be there no matter what – with interest and principal? This better be the case. Is your company hearing anything or putting the pressure on them?
A
James A. Klotz responds:
The bond insurers have already pledged to honor their obligation to make timely payment of principal and interest on the insured Detroit bonds
In our view, this is not only what should be done but will go a long way to revitalizing a bond insurance industry that has been widely disparaged since the 2008 financial crises. When the insurers “step up to the plate,” it will eliminate any remaining investor doubts that bond insurance has merit.
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