BILOXI, MS (WLOX) - The Mississippi Insurance Department (MID) has issued a Cease and Desist Order to Biloxi resident insurance provider James Michael Brand. Brand also serves as the owner and operator of Brand Insurance Services and Gulf Coast Insurance.
MID says they have received complaints and significant documented evidence from insureds and insurance companies that Brand failed to forward premiums received from insureds to the respective insurance companies.
The allegation is a direct violation of Mississippi Code Ann. §83-17-71(1)d.
Because of the complaints and documented evidence, MID has issued the Cease and Desist Order to Brand, Brand Insurance Services, and Gulf Coast Insurance.
Brand, Brand Insurance Services, and Gulf Coast Insurance are prohibited from conducting the business of insurance in this state pending a final determination by the Commissioner of Insurance.
Brand and his companies have twenty days to request a hearing to challenge the Cease and Desist Order. If no such request is made the order becomes permanent.
MID says it's a matter of grave concern when those it regulates violate the trust of insureds.
Anyone doing business with James Michael Brand, Brand Insurance Services, LLC or Gulf Coast Insurance who has questions about coverage or claims should contact their insurance company directly. Those who do not have contact information for their company may contact the Consumer Services Division at MID by calling 1-800-562-2957 for assistance.