JACKSON, Miss. – Mike Chaney, Mississippi Commissioner of Insurance, has issued a Cease and Desist Order to Sirius Mutual Protection & Indemnity Association, LLC. (Sirius). The Mississippi Insurance Department (MID) received an inquiry from the maritime authorities for France seeking information as to whether Sirius was authorized to issue Maritime coverage of fifty million dollars for certain shipping interest. Several ships are being held in certain ports due to this potential fraud. The company, which listed a Bay Saint Louis, Mississippi address, 5477 Lower Bay Road, is not licensed to engage in the business of insurance in the State of Mississippi. Doing so, without prior approval for a license by the MID is illegal. The MID has the responsibility of regulating insurance in Mississippi and any person or entity engaging in the business of insurance must comply with Mississippi’s regulatory provisions and all applicable
insurance laws.
Cease And Desist Order Against Sirius Mutual Protection & Indemnity Association, LLC
