Mercury, Consumer Watchdog spar over rate hike proposal

December 23, 2011 Off By administrator

Mercury, Consumer Watchdog spar over rate hike proposal
News from Sacramento Bee:

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• Stay on topic. Only post com…………… continues on Sacramento Bee

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Consumer Group Hammers Mercury Rate Increase Filing in California
News from Insurance Journal:

A California consumer group is challenging a rate hike bid by Mercury Insurance because the group claims the company is trying to pass along the costs of its political campaigning.

But the insurer says those costs are not included in the rate hike.

Santa Monica-based Consumer Watchdog says the costs involve millions of dollars in political contributions for a 2010 campaign the group viewed an “anti-consumer” proposition on the California ballot.

Mercury Insurance is seeking permission from the California Department of Insurance to raise automobile insurance rates by 6 percent.

Consumer Watchdog has filed a formal challenge to Mercury’s rate increase request, claiming that Mercury is attempting to “illegally include campaign expenses for the failed 2010 ballot measure, Prop 17, in its proposed rate hike.” The group noted the 6 percent hike totals roughly $ 89 million in increases.

But Mercury says the requested hike is to c…………… continues on Insurance Journal

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