Opinions about Mercury General Corp. often depend on whether they're coming from investors or consumers.
The Los Angeles automobile and homeowner insurance company has been at the center of repeated attempts to amend California's landmark Proposition 103, which made automobile insurance a more regulated industry.
For more than a decade, Mercury's founder and chairman, George Joseph, has clashed repeatedly with consumer advocate Harvey Rosenfield, author of the landmark proposition, before the California Department of Insurance, the courts, the Legislature and on the ballot. Joseph's efforts to amend the proposition have been unsuccessful so far.
Mercury sells auto and...