The unique nature of insurance and insurance regulation have combined to prevent the federal bankruptcy of an insurance holding company from having any impact on the leading credit union mortgage insurer, according to an executive with CUNA Mutual Group Mortgage Insurance.

The PMI Group, the holding company for PMI Mortgage Insurance, filed for federal bankruptcy protection on Nov. 23. The bankruptcy filing followed after the Arizona Department of Insurance had taken interim control of PMI Mortgage Insurance and a federal court affirmed that move.

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