State Orders Mercury To Cut Homeowners Insurance Rates 8.2%
<p><b>Mercury, which had sought a 7.3% increase, responds by filing a lawsuit seeking to block Insurance Commissioner Dave Jones' ruling.</b></p>
<p>SACRAMENTO — State regulators have ordered Mercury General Corp. to cut its homeowners insurance rates by 8.2%, instead of the increase in premiums that the company had sought.</p>
<p>As a result, the Los Angeles insurer is contesting the ruling in court.</p>
<p>The rate cut was announced by California Insurance Commissioner Dave Jones.</p>
