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Insurance Commissioner Puts Mercury Insurance On Notice |
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Monday, 30 June 2008 |
Insurance Commissioner Puts Mercury Insurance “On Notice’:
Reduce Consumer Complaints in 2008 or Face More Penalties
The CRA reminds all members that the Insurance Commissioner Steve Poizner has warned Mercury Insurance to be on its best claims handling behavior for the remainder of 2008. Mercury agreed to pay $250,000 in penalties and $50,000 in fees to the Department of Insurance over the large number of consumer complaints filed against the vehicle insurer from January 2004 through December 2005. According to a stipulated settlement, Mercury has to cut its complaint ratio by 15 percent by year’s end, or else face another $200,000 in penalties. The commissioner’s press release, stipulated order and stipulated waiver are linked to this web site.
Allen Wood, CRA executive director, stated that now is the time to send justified complaints against Mercury to the Commissioner. Please notify Allen if you are submitting a complaint that involves an unfair claims practice by Mercury.
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