Abstract: A method of securitized insurance or insurance like protection is provided that eliminates accounting mismatches created when an institution such as a bank, insurance company or corporation wishes to gain protection for an outstanding obligation of payment. An insurance or insurance like protection is purchasable by the institution that protects the institution's outstanding obligation with a structure that can be accounted for on an accrual basis. The accrual basis protection creates accounting conformity for the institution when matched with the accrual accounting basis of the obligation.