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News Story
5/15/2010
Posted by Consumer Watchdog
WASHINGTON — Health insurance companies are lobbying federal and state officials in an effort to ward off strict regulation of premiums and profits under the new health care law. The effort is, in some ways, a continuation of the battle over health care that consumed Congress last year. Insurance lobbyists are trying to shape regulations...
News Story
5/13/2010
Posted by Consumer Watchdog
SACRAMENTO, Calif. (AP) — The insurance company that placed Proposition 17 on the June ballot says it did so to save money for most policyholders. The consumer-advocacy groups opposing it say that’s merely a smokescreen. What the company, Mercury Insurance, really wants is to undermine a provision of a voter-approved insurance...
News Story
5/12/2010
Posted by Consumer Watchdog
For decades, respected consumer advocate Harvey Rosenfield has been battling Mercury Insurance and other corporations that have sought to undermine Proposition 103, the landmark car insurance regulatory measure that he wrote and California voters approved in 1988. But he’s never felt the need to advertise on television, until now. Today...
News Story
5/9/2010
Posted by Consumer Watchdog
Too big to fail turned out to be wrong for banks and other corporations. But don't tell that to Google, which has quickly expanded into making smartphones, mapping streets of the world, streaming videos, connecting friends and selling digital books. As Washington focuses more on Google's explosive growth, one thorn in the company's side is John...
News Story
5/7/2010
Posted by Consumer Watchdog
The more that current outlays by health insurers fall into the "medical" category, the easier it will be for them to meet new minimums in the health care overhaul dictating how much of every premium dollar must go for medical care and limiting how much can go for profit and administrative expenses. Insurers are racing to make the case...
News Story
5/7/2010
Posted by Consumer Watchdog
Backers say letting drivers carry discounts from carrier to carrier would aid most drivers. Foes say the measure would make rates unaffordable for many new drivers. In a Yes on 17 radio promotion, actors portraying a couple pondering their car insurance bills grumble about “the flaw in the law” that would rob them of a discount if...
News Story
5/6/2010
Posted by Consumer Watchdog
Frankly, there’s little credibility in a major insurance company spending beaucoup bucks on a ballot measure just so it can offer motorists a discount. Come on. We weren’t born yesterday. Were you? But that is what Mercury Insurance wants you to swallow. The insurance giant says it is spending millions on Proposition 17 so it can offer...
News Release
5/5/2010
Posted by Consumer Watchdog
Current Senate Bill Allows Treasury to Preempt State Insurance Laws, Including Capital and Solvency Protections   Washington, D.C. -- Financial reform legislation must be amended to preserve states’ ability to protect insurance consumers and bring the bill in line with White House comments yesterday targeting potential industry...
News Release
5/5/2010
Posted by Consumer Watchdog
3rd Largest Auto Insurer Doesn’t Plan On Telling Customers They Could Face Price Hikes Santa Monica, CA –A letter Mercury Insurance Company apparently intends to send to its policyholders this week urging them to support Proposition 17 fails to disclose that its customers could be forced to pay enormous surcharges if the initiative...
News Story
5/4/2010
Posted by Consumer Watchdog
Supporters of Prop 17 are on the air with their first TV spot promoting the June ballot measure.  The initiative, bankrolled by insurance giant Mercury General Corporation, would allow auto insurance companies to offer “continuous coverage” discounts to motorists who switch insurance carriers. Supporters say the...