Mercury Insurance’s controversial Proposition 17 has been resurrected and made its way to California’s November ballot. The proposition received funding from George Joseph, the billionaire chairman of the insurance company. The money was enough to bring the proposition back to life after it had been struck down by voters in 2010. Now, voters will have another opportunity to weigh in on the proposition, but there may be no guarantee that their efforts will put an end to the insurer’s plans for good. The proposition aims to make changes to Proposition…
Read MoreTag: proposition 103
Consumer Watchdog chastises California’s Mercury Insurance for supposed illegal practices
Mercury is looking to raise its auto insurance rates by $89 million in California, a move that consumer advocates are calling “illegal.” Consumer Watchdog, a group concerned with making the California insurance industry more consumer friendly, claims that the insurer is looking to pass a new law that would allow it to raise rates for good drivers that have, simply, not driven for a period of time for any reason. Mercury Chairman George Joseph claims that the legislation the company is backing would save policyholders money, but Consumer Watchdog calls such…
Read More