Order for cut in Mercury homeowner rates in force
- Share via
SACRAMENTO -- An 8% cut in homeowner insurance rates for customers of Mercury General Corp. is back in play, now that a judge has denied a stay request by the Los Angeles insurer.
California Insurance Commissioner Dave Jones in March ordered the rate decrease, totaling $16.5 million for 270,000 policyholders. But Mercury lawyers asked for a stay in Sacramento Superior Court.
Expensive homes | Southern California sales get outrageous
The lower rates are now in force and should show up on coming bills for new policies and renewals. However, Mercury’s lawsuit, contesting the commissioner’s original order, continues to be active.
“This is a significant legal victory in our fight to ensure insurance rates are not excessive,” said Jones in a statement released by his office.
Also:
Mercury chairman backs another auto insurance initiative
Mercury using guise of benevolence to assault Proposition 103
California insurance commissioner chides Blue Shield over rates
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
