Tuesday, March 5, 2013
Mercury, which had sought a 7.3% increase, responds by filing a lawsuit seeking to block Insurance Commissioner Dave Jones' ruling.
SACRAMENTO — State regulators have ordered Mercury General Corp. to cut its homeowners insurance rates by 8.2%, instead of the increase in premiums that the company had sought.
As a result, the Los Angeles insurer is contesting the ruling in court.
The rate cut was announced by California Insurance Commissioner Dave Jones.