California insurer Mercury General plunges as wildfires continue to burn

Headquartered in Los Angeles, Mercury Insurance is a multiple-line insurance carrier offering 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. Shares of the insurer are down $18.54, or 30%, to $42.16 in pre-market trading as wildfires across Southern California have forced local authorities to issue mandatory evacuation orders for tens of thousands of residents across the region. Mercury Insurance said it is “prepared to assist homeowner, renter and auto policyholders who have had to evacuate in response to those orders or whose property has suffered fire damage.” “We recognize that the recovery process after a wildfire can be a difficult and emotional time. However, the Mercury claims team is here for our California customers who have been impacted,” says Bonnie Lee, VP, Property Claims at Mercury Insurance.