Prop. 103 established that a fair and reasonable rate of return for a property and casualty insurer in CA should be 10%. This was determined 30 years ago, in 1988. While Mercury is based in CA, it should either conform to Prop. 103 or leave. 30 years of attacking Prop. 103 is no way to operate a CA-based property and casualty insurer. For those of in the know, who have been in the Industry for 30+ years, Mercury is a joke, and is known as a company who is mismanaged by its owner who has more money than ethics. Just leave CA, Mercury.
Prop. 103 established that a fair and reasonable rate of return for a property and casualty insurer in CA should be 10%. This was determined 30 years ago, in 1988. While Mercury is based in CA, it should either conform to Prop. 103 or leave. 30 years of attacking Prop. 103 is no way to operate a CA-based property and casualty insurer. For those of in the know, who have been in the Industry for 30+ years, Mercury is a joke, and is known as a company who is mismanaged by its owner who has more money than ethics. Just leave CA, Mercury.