Mercury General Corp 8-K, filed Jul 1, 2020
Mercury General Corp (MCY)
8-K
2020-07-01
For: 2020-07-01
View Original
Added on
April 10, 2026
About this 8-K
Mercury General Corp filed this 8-K on July 1, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 1, 2020
Commission File No. 001-12257
(Exact Name of Registrant as Specified in Charter)
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
Registrant’s telephone number, including area code: (323 ) 937-1060
____________________
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14.a-12) | ||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure
On July 1, 2020, Mercury General Corporation issued a press release announcing that it is extending its Giveback Program for eligible California customers through June 30, 2020, bringing the total giveback to over $105 million countrywide, to assist its policyholders during these uncertain times due to the COVID-19 crisis. In connection with the Giveback Program, the Company expects that its income before income taxes will be reduced by approximately $105 million for the three and six months ended June 30, 2020, compared to what would have been the case had the Giveback Program not been implemented.
A copy of the press release is attached hereto as Exhibit 99.1. The press release is furnished and not filed pursuant to Instruction B.2 of Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
104. Cover page Interactive Data File (formatted as inline XBRL)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: July 1, 2020 | MERCURY GENERAL CORPORATION | ||||||||||||||||||||||||||||
| By: | /s/ THEODORE STALICK | ||||||||||||||||||||||||||||
| Name: | Theodore Stalick | ||||||||||||||||||||||||||||
| Its: | Chief Financial Officer | ||||||||||||||||||||||||||||
-3-
 | 4484 Wilshire Boulevard | |||||||
| Los Angeles, California 90010 | ||||||||
| (323) 937-1060 | ||||||||
| Fax (323) 857-7125 | ||||||||
| Press Release | ||
FOR MORE INFORMATION, CONTACT:
Theodore Stalick, SVP/CFO
(323) 937-1060
www.mercuryinsurance.com
For Release: July 1, 2020
Mercury Insurance Extends Giveback Program through June
Company to give back 10% of June private passenger and commercial
auto insurance premiums to California customers
LOS ANGELES, Calif. (July 1, 2020) – Today, Mercury Insurance (NYSE: MCY) announced the company will be extending its Giveback Program for California private passenger and commercial auto insurance policyholders through June 30, 2020.
"With the gradual reopening of California, collisions and other auto-related insurance losses have increased in June compared to April and May as more drivers return to the road,” said Mercury Insurance President and CEO, Gabriel Tirador. “However, claims are still below historical averages so we believe the right thing to do is to continue the Mercury Giveback Program through the end of June, and potentially into July and beyond, depending upon how the pandemic continues to unfold.”
California private passenger and commercial auto customers will automatically receive a credit or check equal to 10% of their June premium in August.
The extension of the Giveback Program brings the total premium returned to Mercury’s customers to more than $105 million since the beginning of the COVID-19 pandemic.
To learn more about the company’s response to COVID-19, please visit www.mercuryinsurance.com.
ABOUT MERCURY INSURANCE
Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit www.mercuryinsurance.com or Facebook.com/MercuryInsurance and follow the company on Twitter.