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 personal automobile insurance in a number of states, mainly California. The Company also writes homeowners, commercial automobile, commercial property, mechanical breakdown, and umbrella insurance. The Company offers automobile policyholders the following types of coverage: collision, property damage, bodily injury, comprehensive, personal injury protection ("PIP"), underinsured and uninsured motorist, 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 Company sells its policies through independent agents. The Company operates in the 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 regulation and supervision by the Departments of Insurance of each state in which it operates.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.