Mortgage insurer Triad Guaranty filed for Chapter 11 bankruptcy protection after the company faced higher insured losses on the back of weakness in the jobs and housing market, Reuters states in a new article.

Triad said in a filing with a Delaware bankruptcy court that its loss ratios, which measure incurred losses to premiums earned, had been hit by “continued high unemployment in the U.S. and the slow economic recovery in U.S. residential mortgage and housing markets”.