In James Allen Ins. Brokers v. First Financial Bank, 267 So.3d 759 (Miss. 2019), the Court held that a mortgagee was entitled to coverage under a binder notwithstanding the insured mortgagor’s failure to pay the initial policy premium. In this case, the insurance company and broker were liable to the bank as the holder of the mortgage on an insured poultry farm. The farm suffered a fire loss that occurred after the broker had issued an insurance binder covering the farm. The insured did not pay the initial premium for the insurance coverage. Nevertheless, under the terms of the binder, coverage had gone into effect without payment of the premium. Under Mississippi law, the Court found that the insurer and the broker were required to provide notice to the mortgagee or the named creditor loss payee in the binder before cancelling the policy for nonpayment of premium. Because the required notice was not provided, the trial court granted summary judgment in favor of the mortgagee on its claim that the insurance company had failed to pay amounts due under the binder.