Rule 19-7-4.04 - DefinitionA. General Liability Insurance- A form of insurance that indemnifies against liability on account of injury to the person or property of another. B. Surety Bond- A type of bond which protects against loss due to the inability or refusal of an obligor to perform his or her contract. Miss. Code Ann. § 75-49-5 (Supp. 2015); § 83-19-1 (Supp. 2015).