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Mercury was founded by George Joseph, who flew 50 World War II missions as a navigator before graduating from Harvard on the G.I. Bill in 1949. Joseph then spent more than a decade in the insurance industry before founding Mercury Insurance in 1961 as a low-cost alternative to larger insurance companies.
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Customer deposits of up to $5 million can be spread out across multiple accounts that are each under the FDIC's $250,000 insurance limit. [9] The company provides a corporate credit card called Mercury IO. [10] The company also operates Mercury Raise, a service connecting customers with investors. [11]
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Drivers with a good record qualify for 20% discount, but California insurance regulators say that Mercury steers them into highest-priced policies.
Mercury offered auto insurance policies with differing rates, based on a driver's record and experience, a first in the industry. [1] As of 2013, Mercury employs 4,000 agents and has $4 billion in assets. [1] Joseph remains actively involved in the operations of Mercury Insurance as the chairman of the board, but the CEO of the company is now ...
Financial scams are an unfortunate reality of life for consumers. According to the Canadian Anti-Fraud Centre, Canadians reported $530.4 million (CND) in financial fraud losses in 2022, a 170.2% ...