Triad Guaranty Inc. is a holding company that, through its wholly owned subsidiary, Triad Guaranty Insurance Corporation, provides private mortgage insurance coverage in the United States to residential mortgage lenders and investors. The Companys private mortgage insurance products include primary insurance, pool insurance and structure bulk transactions. Primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure. Pool insurance generally has been offered by private mortgage insurers to lenders as an additional credit enhancement for certain mortgage-backed securities, and provides coverage for the full amount of the net loss on each individual loan included in the pool. The Company participates in structured bulk transactions, which involve insuring a group of loans where the insured loans have individual loan level coverage.