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The California Department of Insurance announced Monday that it’s taking legal action against ... Lara said in its complaint that Mercury has used a number of creative strategies to steer so ...
The Department of Financial Protection and Innovation has a long history, dating back to the formation of California's first banking department. It became the DFPI in 2020 with the passage of the California Consumer Financial Protection Law (CCFPL). [2] Formation of State Banking Department (1909) and State Corporations Department (1913)
Mercury was founded by George Joseph, who flew 50 World War II missions as a navigator before graduating from Harvard on the G.I. Bill in 1949. Joseph then spent more than a decade in the insurance industry before founding Mercury Insurance in 1961 as a low-cost alternative to larger insurance companies.
During 2010, Consumer Watchdog opposed Proposition 17, a ballot measure sponsored by Mercury Insurance Group to repeal a provision of Proposition 103 which prohibits insurance companies from considering a driver's history of prior insurance coverage when determining the price or availability of automobile insurance. Mercury spent $16 million in ...
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