Insurance: financial guaranty insurance.

Existing law divides insurance in this state into various classes, including financial guaranty insurance, defined as a surety bond, an insurance policy, or, when issued by an insurer, an indemnity contract and any similar guarantee, under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee, or indemnitee as a result of specified events. This bill would make technical, nonsubstantive changes to the provision referencing the definition of financial guaranty insurance.