Directive No. 90
FIDELITY AND SURETY BONDS
February 20, 1989
Act No. 172 of the 1988 Louisiana Legislative Session provides that
for the quoted premium, to require that the quote be a dollar amount
and to require the inclusion of the dollar amount of the premium on the
policy, to provide for disclosure of the dollar amount, to define terms, to
provide for exceptions, to provide for civil and criminal penalties for
violation and appeal of penalties, and to provide for related matters.
The act makes no mention of "fidelity and surety" bonds which are
specified as a distinct line of insurance under L.R.S.22:6(8).
Therefore, the Commissioner of Insurance finds that it was not the
intent of the Legislation, in enacting Act No. 172, to have said act apply
to Fidelity and Surety bonds.
The Companies referenced above are hereby directed to act in accor
dance with this directive.
Douglas D. Green
COMMISSIONER OF INSURANCE