Mercury Insurance to Broaden Coverage Availability for California Homeowners Through Rate Filing

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California’s insurance landscape is poised for a shakeup as Commissioner Lara’s Sustainable Insurance Strategy clears the path for data-driven risk assessments, potentially revitalizing the state’s insurance marketplace.

LOS ANGELES, July 25, 2025 /PRNewswire/ — Mercury Insurance (NYSE: MCY), a major player in the property and casualty insurance sector, is gearing up to file a homeowners insurance rate request leveraging the California Department of Insurance’s (CDI) newly sanctioned Verisk Wildfire Model. This move signals a direct response to Commissioner Ricardo Lara’s ongoing Sustainable Insurance Strategy, an initiative Mercury believes will broaden insurance accessibility and foster a more robust homeowners insurance market in California.

“Commissioner Ricardo Lara and his Department’s leadership in establishing the Sustainable Insurance Strategy marks a significant advancement, empowering insurance companies to expand and fortify their coverage options throughout California,” stated Gabriel Tirador, Mercury’s CEO. “This well-balanced, science-backed initiative opens the door for Mercury to extend its homeowners insurance offerings to a wider range of areas.”

The CDI’s strategy is already paying dividends for Mercury and its California policyholders. Demonstrating foresight, and anticipating the Sustainable Insurance Strategy, Mercury became the first insurer last year to offer new policies in Paradise, CA, a town devastated by the 2018 Camp Fire. This effort, bolstered by Commissioner Lara’s support, the City of Paradise, its residents, and various organizations, allowed Paradise to envision a resilient future, adapting its growth model to mitigate wildfire risks.

About Mercury Insurance

Headquartered in Los Angeles, Mercury Insurance (NYSE: MCY) is a multiple-line insurance carrier providing personal auto, homeowners, and renters insurance directly to consumers and through a network of independent agents in Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, as well as auto insurance in Florida. Mercury also writes business owners, business auto, landlord, commercial multi-peril and mechanical protection insurance in various states.

Since its inception in 1962, Mercury has prioritized delivering exceptional value by combining competitive rates with outstanding customer service. With over 4,200 employees and a network of more than 6,340 independent agents across 11 states, Mercury has earned an “A” rating from A.M. Best, plus “Best Auto Insurance Company” accolades from Forbes and Insure.com. For further details, visit www.MercuryInsurance.com or connect with the company on Twitter and Facebook.