35 Miss. Code. R. 7-07-02-102
An insurance company which is authorized to underwrite policies in this state and others as authorized by the Department who acquire ownership of a motor vehicle in this state which it determines not to require application for certificate of title as provided in Section 101, paragraph 1 above, may transfer ownership of said vehicle by executing the space contained on the reverse of the certificate of title reserved for First Reassignment by Licensed Dealer, naming therein the purchaser, who may be the insured, a rebuilder or dismantler. Insurer or others shall attach a signed statement or if the owner is a company, on company letterhead which states () collision damage; () hail damage; () flood damage; () recovered or () unrecovered theft.
35 Miss. Code. R. 7-07-02-102