Erie Insurance Group is a US-based multi-line insurance provider that offers property and casualty insurance in 11 states, including Illinois, Indiana, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wisconsin, and the District of Columbia. Founded in 1925, the company started by offering auto insurance but gradually extended its business to different sectors, such as homeowners insurance, life insurance, personal property and liability insurance and retirement insurance. Erie Insurance also gives comprehensive cash coverage for small businesses.
History of Erie Insurance Group
The company was founded in Pennsylvania in1925 by H.O. Hirt and O.G. Crawford, with the motto of working on “simple common sense, mixed with just plain decency.” Launched as an automobile insurer, the company incorporated a new line in terms of fire insurance in 1940. Gradually extending its wings, by 1954 Erie Insurance has also entered the inland marine insurance sector. However, it wasn’t until the inclusion of the homeowner policy in 1961 that the company became a major player among the list of multi line insurance companies in the nation. After 42 years of being established, Erie Group founded Erie family life insurance in 1967. By 2000, Erie Insurance was already operating in 11 states in the USA.
Involvement of Erie Insurance Group in the Community
Erie Insurance Group appears in the list of Fortune 500 companies and is a reliable name in the industry today with an A+ Superior rating by A.M. best company. It is not only a top insurance company operating in 11 states, but is also committed to serving the community. Erie Insurance is involved in various charitable activities, along with organizations such as American Cancer Society and March of Dime. It also regularly donates enormously to United Way. The employees take part in charity walks organized to fight for different causes, such as juvenile diabetes and cancer.
The Erie Insurance Group
The Erie Insurance Group comprises of Erie Insurance Exchange and Erie Indemnity Company. Erie Insurance Exchange gets its administrative, sales and other services from the Erie Indemnity Company. Erie Insurance Exchange is a reciprocal insurer, which means that it comprises of subscribers who provide indemnity to each other by exchanging insurance contracts. Erie Indemnity Company is the attorney-in-fact and is legally authorized by subscribers of the Erie Insurance Exchange to conduct business on its behalf.