Before revision:  I further propose a new feature for insurance type derivativeswhich is a clawback lien, here 77\%,  to be paid back to the underwriter  to prevent perverse incentive . This proposal solves an old problem in banking, because it matches the term of the loan with the term of the investment.
After revision:  I further propose a new feature for insurance type derivativeswhich is a clawback lien, here 77\%, to be paid back to the underwriter to prevent perverse incentive to deliberately fail. This new feature creates an Equity Default Clawback Swap (EDCS) which can be used safely. This proposal also solves an old problem in banking, because it matches the term of the loan with the term of the investment.