Financial guarantee insurance

{
  "id": "MLC-T-INS-001504",
  "term": "Financial guarantee insurance",
  "field": "Insurance and risk management",
  "definition": "A type of insurance that protects a beneficiary against financial loss resulting from a borrower's or obligor's failure to perform a contractual obligation. It provides credit enhancement for debt obligations, such as municipal bonds or structured finance transactions. The insurer typically guarantees the timely payment of principal and interest.",
  "url": "https://mlchart.com/terminology/insurance/financial-guarantee-insurance/"
}