TITLE 41

INSURANCE

CHAPTER 5

KINDS OF INSURANCE — LIMITS OF RISK — REINSURANCE

41-507.  "Surety insurance" defined. "Surety insurance" includes:

(1)  Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust.

(2)  Insurance or guaranty of the obligations of employers under workmen’s compensation laws.

(3)  Insurance guaranteeing the performance of contracts, other than insurance policies, and guaranteeing and executing bonds, undertakings, and contracts of suretyship.

(4)  Insurance indemnifying banks, bankers, brokers, financial or moneyed corporations or associations against loss, resulting from any cause, of bills of exchange, notes, bonds, securities, evidences of debt, deeds, mortgages, warehouse receipts or other valuable papers, documents, money, precious metals and articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious and semiprecious stones, including any loss while the same are being transported in armored motor vehicles, or by messenger, but not including any other risks of transportation or navigation; also insurance against loss or damage to such an insured’s premises or to his furniture, furnishings, fixtures, equipment, safes, and vaults therein, caused by burglary, robbery, theft, vandalism or malicious mischief, or any attempt thereat.

History:

[41-507, added 1961, ch. 330, sec. 116, p. 645.]