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California DOI Prevails in Longstanding Court Battle Against Mercury Insurance

According to a Property Casualty 360 article, the California Supreme Court let stand a $27.6 million fine from the Department of Insurance against Mercury Insurance for charging consumers unapproved and unfairly discriminatory rates.

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According to an article in Property Casualty 360, the California Supreme Court let stand a $27.6 million fine from the Department of Insurance against Mercury Insurance after denying a petition for review. This fine is the largest in the department’s history against a property and casualty insurer.

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Property Casualty 360 stated in the article that, in 2015, Mercury was fined $27.6 million for charging consumers unapproved and unfairly discriminatory rates in violation of Proposition 103, which prevents auto insurers from charging excessive rates and requires that rates be approved by the commissioner.

Despite warnings from the department to discontinue the practice, Mercury continued to allow its auto insurance agents to charge consumers illegal fees on top of their premium.

To read the full article in Property Casualty 360, click here.

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