MBIA reported that Lois A. Scott was elected to the Company's Board of Directors, where she will serve as a member of the Audit Committee. At the same time, Sean Carney, a General Partner of Warburg Pincus & Co., has retired from the MBIA Inc. Board. Scott is President of Epoch Advisors.

From May 2011 to May 2015, Scott served as the Chief Financial Officer for the City of Chicago, Illinois.