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In August 2019, Mercury paid a $27.6 million fine to the California Department of Insurance for findings that it had violated Proposition 103. It was the largest fine against a property and ...
Hamlin’s home was privately covered by Mercury Insurance, but Wilson was forced onto the California Fair Access to Insurance Requirements Plan — the state’s bare-bones insurance program ...
On Tuesday, Mercury Insurance, an independent home insurer in California, announced it would begin writing new homeowners insurance policies in the town of Paradise, the site of the deadly Camp ...
Mercury wrote $1 million in premiums every month by 1970 and sold its first homeowners policy in 1972. The newly created Mercury Insurance Company wrote its first auto policy in 1977. [7] In 1989, Mercury began expansion outside of California, opening offices in Georgia and Illinois. The company insured more than 1 million vehicles in ...
Mercury stock suffered the steepest decline, dropping nearly 20%. Roughly one-fifth of the homeowners’ insurance premiums the company collects in the US come from California, according to Moody’s.
Reuters contacted nine of the top home insurance companies in California for comment. State Farm, Nationwide, Allstate, Mercury, Liberty Mutual and Farmers responded with statements saying they ...
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