Mercury to seek new home insurance rates using California’s risk modeling system

Mercury to seek new home insurance rates using California’s risk modeling system

Mercury Insurance is preparing to file updated home policy rates in California using a new catastrophic modeling system designed to give property owners a lifeline to more affordable coverage in wildfire-prone areas. The company said it is looking to offer homeowners an alternative to the California Fair Access to Insurance Requirements, or FAIR Plan, an insurer of last resort. The policies rates would apply to anyone who wants Mercury Insurance…