Mercury Insurance Ends Fight With California For Record $41 Milion

Mercury Insurance Co. is ending its two-decade battle with California regulators over extra fees charged to customers by agreeing to pay the state more than $41 million, California Insurance Commissioner Ricardo Lara said Wednesday.

He said it’s the largest property and casualty penalty and interest payment in the history of the state Insurance Department’s history.

The settlement came after the state Supreme Court last month declined to hear the company’s appeal from a lower court decision.

The company said it is the fourth largest private passenger automobile insurer in California, with assets over $4 billion.

It also provides automobile insurance in Arizona, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia.