Mercury General issued more information about the recent Southern California Wildfires, known as the Palisades and Eaton fires, and the company's reinsurance program. As of Monday, Mercury has paid $80 million to policyholders primarily for living expenses and housing contents, and has started to pay out dwelling claims at the Coverage A limit for verified total losses. The company said it has sufficient liquidity to meet the increased levels of payments.
Mercury General said it has not yet determined if it will consider the wildfires as two separate events. Under a two-event scenario, the company may elect to use reinsurance limits of up to $1.29 billion for the first event and reinstated limits up to $1.238 billion for the second event.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.