New muni-only bond insurer Municipal and Infrastructure Assurance Corp. has received approval to participate in the National Association of Insurance Commissioners' pilot program that will expedite the insurance licensing process in all 56 member jurisdictions, the company announced this morning.

MIAC, which is co-sponsored by Macquarie Group and Citadel Investment Group, received a license from New York in September. Berkshire Hathaway Assurance Corp. used the NAIC expedition process to speed its own licensing process when it entered the market last year.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.