Mercury General Corp is a California Corporation founded in 1961. It operates as an insurance holding company. The Company and its subsidiaries are engaged mainly in writing automobile insurance in a number of states, mainly California. The Company also writes homeowners, mechanical breakdown, fire, umbrella, and commercial automobile and property insurance. The Company offers automobile policyholders the following types of coverage: bodily injury liability, underinsured and uninsured motorist, personal injury protection, property damage liability, comprehensive, collision and other hazards. The Company sets its own automobile insurance premium rates, subject to rating regulations issued by the Departments of Insurance or similar governmental agencies of the applicable states. In addition, the Company offers mechanical breakdown insurance in many states and homeowners insurance in Florida, Illinois, Oklahoma, New York, Georgia, Texas, and Arizona. The Company offers standard, non-standard, and preferred private passenger automobile insurance. The Company conducts the majority of claims processing without the assistance of outside adjusters. The claims staff administers all claims and direct all legal and adjustment aspects of claims processing. The Company sells its policies through approximately 6700 independent agents and brokers, of which over 1,200 are located in each of California and Florida. The remaining agents are located in Georgia, Illinois, Texas, Oklahoma, New York, New Jersey, Virginia, Pennsylvania, Arizona, Nevada, and Michigan. The Company operates in the highly competitive property-casualty industry subject to competition on pricing, claims, consumer recognition, coverage offered and other product features, customer service, and geographic coverage. The Company is subject to significant regulation and supervision by the Departments of Insurance of each state in which the Company operates.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.