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Order for cut in Mercury homeowner rates in force

May 08, 2013|By Marc Lifsher
  • "This is a significant legal victory in our fight to ensure insurance rates are not excessive," said Insurance Commissioner Dave Jones (shown here in a 2011 photo), in a statement released by his office.
"This is a significant legal victory in our fight to ensure insurance… (Katie Falkenberg / For The…)

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.

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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

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