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News Story
2/10/2012
Posted by Mark Reback
In California, the rule of politics is sometimes “one man, one ballot proposition.” Pretty much by himself, billionaire George Joseph is financing an initiative governing insurance rates. As the chairman and largest stockholder of Mercury General Corporation, an insurance company that does most of its business in California,...
News Story
2/6/2012
Posted by Mark Reback
John Norwood is one of California’s best known legislative advocates for the insurance and financial services sectors. Norwood, principal of Norwood & Associates, has garnered recognition for his political work dating back to the early 1980s, including political battles to amend the state’s insurance rate regulations, and...
News Story
2/3/2012
Posted by Mark Reback
WASHINGTON, Feb. 3 (LID) – The recently created Federal Insurance Office (FIO) within the U.S. Department of Treasury has missed its deadline to report to Congress on how best to improve oversight of the insurance industry. Title V of the Wall Street Reform and Consumer Protection Act of 2009 (Pub.L. 111-203), which created the FIO,...
News Story
1/30/2012
Posted by Mark Reback
A consumer group on Monday issued a study that shows ‘disparate treatment’ of low-to moderate-income families by auto insurers nationwide, and is asking state insurance commissioners to consider lowering minimum liability coverage requirements, and creating low-income purchase programs. A study released from the Consumer Federation...
News Story
1/27/2012
Posted by Mark Reback
UPDATE, Jan. 27, 2012: Mercury Insurance provided this response to questions about its record. The 90-year-old billionaire chairman of Mercury Insurance just won’t give up. George Joseph gave $8.2 million to put an initiative on the November ballot that supporters say would lower car insurance rates for consumers who maintain...
News Story
1/22/2012
Posted by Mark Reback
From the courts to the Capitol to the ballot, insurance magnate George Joseph and attorney Harvey Rosenfield, who wrote the 1988 initiative that regulated auto insurance, have been butting heads for a quarter century. They assure me it's not personal. There was nothing personal in 2009 when Consumer Watchdog, the Santa Monica advocacy...
News Release
1/19/2012
Posted by Consumer Watchdog
Santa Monica, CA – The billionaire insurance baron-backed ballot measure to surcharge millions of California drivers by 40% has qualified for the November 2012 ballot, according to the California Secretary of State.  Mercury Insurance Chairman George Joseph, who has already contributed over $8 million to the ballot measure, will...
News Story
1/19/2012
Posted by Mark Reback
An automobile insurance discount initiative, more than 99% bankrolled by the chairman of Mercury Insurance, has qualified to go before voters on November's ballot. Officially sponsored by a trade group, the American Agents Alliance, the proposal would provide motorists, who switch insurance companies, with a discount if they had been...
News Release
1/18/2012
Posted by Consumer Watchdog
Santa Monica, CA -- Mercury Insurance seeks to raise California insurance rates by 8.8% for approximately 300,000 homeowners and renters with Mercury policies. If approved, the increase would generate an additional $19 million per year for Mercury.  The insurer is seeking the increase even though it paid less than 50¢ in claims for...
News Story
1/8/2012
Posted by Mark Reback
Looking for a competitive edge over other car insurance  companies, Allstate is promising that if you buy a policy and are not satisfied with your claims service, you'll get a refund. Under the money-back claims satisfaction guarantee, eligible customers who are dissatisfied with the service on a paid auto claim can receive a credit to...