Mercury General Seeks Auto Rate Increase

Mercury General Corp. has requested an auto insurance rate hike one month after receiving regulatory approval for a 6.9% boost.

California Department of Insurance filings that were made public Monday show L.A.-based Mercury has asked regulators for an additional 4.1% to 6.9% increase, depending on the type of coverage. Company officials could not be reached for comment.

Rate changes of less than 7% do not require a regulatory hearing and usually are approved.

Mercury’s Chief Executive George Joseph told Wall Street analysts in May that California drivers would face annual premium increases, after nearly a decade of falling rates, as savings from liability reform and improvements in auto safety came to an end.