Mississippi Insurance Producer Surrenders License After Cease & Desist Order

A Mississippi insurance producer has surrendered his licensed after being served a cease and desist order by the Mississippi Insurance Department.

According to a statement from MID, James Michael Brand surrendered his insurance producer’s license on June 22. The license of his agency, Brand Insurance services, LLC, d/b/a Gulf Coast Insurance, expired on May 31, 2018 and has not been renewed.

Brand and his agency are the subject of a cease and desist order issued by MID on June 8, 2018 following the receipt of complaints and significant documented evidence from insureds and insurance companies that Brand failed to forward premiums received from insureds to the respective insurance companies in direct violation of Mississippi insurance law, MID said.

As a result of the loss of their licenses, neither Brand nor Brand Insurance services, LLC, d/b/a Gulf Coast Insurance, are currently authorized to conduct the business of insurance in Mississippi, including the servicing of existing policies.

MID said anyone doing business with James Michael Brand, Brand Insurance Services, LLC or Gulf Coast Insurance should immediately contact their insurance company or insurance broker directly to inquire whether their premiums have been received, the status of their policies and how to avoid a lapse in coverage.

“I have strongly encouraged insurance brokers to honor premium payments made to Brand upon proof of payment, and I am pleased thus far with how the brokers are stepping up to protect policyholders,” Mississippi Insurance Commissioner Mike Chaney said.

MID noted that anyone needing contact information for their insurance company or insurance broker can contact the Consumer Services Division at MID at 1-800-562-2957 for assistance.

Source: Mississippi Insurance Department

Topics Mississippi