Coastal Insurance Agent Surrenders License, Investigation Continues

From:  State Insurance Commissioner   7/6/18   GCN

Jackson – On the 22nd day of June, 2018 the Mississippi Insurance Department (MID) accepted James Michael Brand’s surrender of his insurance producer’s license. 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. Mr. 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.

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. 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,” Commissioner Mike Chaney said.

Anyone needing contact information for their insurance company or insurance broker may contact the Consumer Services Division at MID at 1-800-562-2957 for assistance.