(1) Industrial fire insurance policies are defined as policies issued by companies which write fire insurance through weekly premium agents operating on the debit agency system and which meet the other requirements of this section. Any such policy with limits in excess of Fifteen Hundred Dollars ($1500.00) may be written by such weekly premium agents operating on a debit system or by any agent qualified and licensed to write fire insurance in the State of Mississippi, and in the case of policies over Fifteen Hundred Dollars ($1500.00) written by agents other than weekly premium agents operating on a debit system, premiums may be collected as much as six (6) months in advance on the basis of filings made and approved by the Commissioner of Insurance as otherwise provided in this title. On all other industrial fire policies in the State of Mississippi, carriers and agents shall not collect premiums for more than four (4) months in advance.
(2) The Commissioner of Insurance shall generally supervise and regulate the operation of industrial fire insurance and allied lines.
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