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Mercury General Corporation Message Board

  • wqjackson wqjackson Apr 13, 2010 3:54 AM Flag

    Mercury Insurance face fines: Overcharging

    Mercury Insurance Group violated state laws meant to regulate how coverage is priced and sold and, as a result, overcharged perhaps thousands of Californians for homeowner and automobile insurance, the state Department of Insurance said Monday.

    "Mercury Insurance has disregarded California's consumer protection statutes and overcharged consumers," Poizner said. "In addition, the department's examination finds that Mercury Insurance has apparently continued to violate the law despite agreements with the state to terminate its illegal behavior."

    "This troubling report shows Mercury has overcharged its customers for a decade and a half but wants us to believe Proposition 17 will lower premiums," said Harvey Rosenfield, who spearheaded the landmark insurance reforms under Proposition 103, some provisions of which would be repealed if Proposition 17 passes.

    "That's like Bernie Madoff backing a ballot measure to protect investors."


    "I think the insurance commissioner's report is a huge red flag saying, 'Here's a company that doesn't play by the rules, so what it wants to do is buy an election and through the initiative process create its own rules," said Christopher Dolan, president of Consumer Attorneys of California.

    http://www.latimes.com/business/la-fi-mercury13-2010apr13,0,6189069.story

 
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