Section 21.12.080. 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 guaranteeing the performance of contracts, other than insurance policies, and guaranteeing and executing bonds, undertakings, and contracts of suretyship;
        (3) 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 loss while 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 an insured's premises or to the furnishings, fixtures, equipment, safes, and vaults on an insured's premises caused by burglary, robbery, theft, vandalism, or malicious mischief, or attempted burglary, robbery, theft, vandalism, or malicious mischief.

Authorities

21.14.200;21.27.115

Notes

Implemented As

3 AAC 29.410

References

3 AAC 23.859
3 AAC 29.410
AS 21.14.200 Definitions.
AS 21.27.115 Lines of authority.

History

(Sec. 1 ch 120 SLA 1966)