A San Jose, Calif. body shop owner has been charged with insurance fraud following an investigation by the Santa Clara County District Attorney’s Office. Jairon Escobar, 49, who owns and operates Radiator & Body Parts, allegedly inflated an insurance damage estimate on a vehicle that was part of an undercover operation. Investigators say Escobar added […]
Mercury Insurance Names the Most Affordable New EVs to Insure
Due to the growing demand for electric vehicles, particularly in California, Mercury Insurance (NYSE: MCY) has compiled a list of the most affordable new EVs to insure, which will arm consumers with valuable knowledge when they go to shop for an EV. Factors contributing to insurance costs include claims on similar vehicles, cost to repair […]
Simon Zhang Named Chief Data Analytics Officer at Mercury Insurance
Mercury Insurance (NYSE: MCY), a leading provider of property and casualty insurance, has appointed Simon Zhang to the newly-created position of Chief Data and Analytics Officer. The hire continues Mercury’s ongoing effort to utilize advanced data analytics to drive business growth, elevate the carrier’s product offerings, and better meet the needs of its policyholders. “This […]
Consumer Group Seeks to Have Mercury Insurance License Suspended or Revoked in California
Consumer Watchdog yesterday filed a Petition to Intervene in an enforcement action brought by the California Department of Insurance (CDI) against Mercury Insurance Group for overcharging, misleading and discriminating against California homeowners and motorists. Mercury is the state’s 3rd largest auto insurer and 6th largest home insurer. Consumer Watchdog said its participation in the matter […]
California Alleges Mercury Insurance Illegally Steered Good Drivers to Higher Priced Auto Insurance
California Insurance Commissioner Ricardo Lara yesterday announced a legal action against Mercury Insurance for violating consumer protection laws, including by selling Mercury’s highest-priced policy to “good drivers” instead of the lowest-priced policy for which good drivers qualify. This legal enforcement action comes after a Department investigation found numerous areas where Mercury’s business practices harmed policyholders […]
Mercury Insurance Adds Digital Channel to Auto Claims Process
New web-based application enables policyholders to digitally submit a claim and connect with repair facilities. Mercury Insurance (NYSE:MCY), the 16th largest private passenger auto insurer in the U.S., announced a new web-based application to help policyholders file a claim digitally immediately following an accident with ease and security. Through a series of recognizable prompts, the […]
California Insurance Commissioner Orders Allstate, Mercury, and CSAA to Refund Excess Auto Insurance Profits Due to Covid or Face Legal Action
California Insurance Commissioner Ricardo Lara on October 6 directed three auto insurance companies to reimburse California drivers the excess premiums they were charged from the start of the pandemic, or face legal action. The Commissioner’s order is directed at Allstate Northbrook Indemnity Company, Mercury Insurance Company, and CSAA Insurance Exchange. Together, these companies insure approximately […]
Court Upholds California DOI $27.5 Million Fine Against Mercury Insurance for Charging Additional Fees for Auto Insurance
Yesterday, the California Court of Appeal upheld a $27.5 million fine the Department of Insurance issued against Mercury Insurance Company for charging illegal fees that should have been disclosed as premiums, a violation of Proposition 103. The fine is the largest in the Department’s history against a property and casualty insurer. In 2015, the Commissioner […]