MBIA Inc. booked its third consecutive quarterly loss, as the country’s largest bond insurer was hurt by a $3.58 billion loss on contracts the company has written to insure complicated securities often backed by mortgages against default, Dow Jones Newswires reported today. The quarter also showed the damage done to MBIA’s business by concerns about its exposure to troubled securities, as net premiums written fell 41 percent. MBIA posted a net loss of $2.41 billion compared with net income of $198.6 million a year earlier. The company reported negative revenue of $2.96 billion due to the loss on insured derivatives, compared with a profit of $729.9 million. MBIA’s paper losses on insured derivatives would have been $7.1 billion, except for an offsetting $3.6 billion gain on the declining value of its own credit guarantees.