Type Public Industry Insurance Number of employees 5,000 Parent organization Erie Indemnity Company | Traded as NASDAQ: ERIE Website www.erieinsurance.com Founded 1925 | |
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Key people Timothy G. NeCastro (CEO) Products Property, Casualty and Life Insurance Headquarters Erie, Pennsylvania, United States CEO Terrence W. Cavanaugh (29 Jul 2008–) Subsidiaries Erie Indemnity Company Profiles | ||
Erie Insurance is an American multi-line insurance company, offering auto, home, commercial and life insurance through a network of independent insurance agents. As of 2014, Erie Insurance Group is ranked among the 500 largest U.S. companies, in terms of revenue, by Fortune magazine.
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Its geographic presence extends to 12 U.S. states and the District of Columbia, including Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wisconsin. It also owns the naming rights to the Erie Insurance Arena in downtown Erie, Pennsylvania.
History
The Pennsylvania Insurance Department issued a license to the Erie Insurance Exchange as an automobile insurer in 1925 and operations began on April 20, 1925. Erie Insurance Exchange was formed as a reciprocal and Erie Indemnity Company was formed as its managing company. The annual premium charge per auto was $34.
Important dates in company history:
Sales and Marketing
Erie Insurance sells its products exclusively through a network of more than 2,000 independent agencies with more than 10,000 licensed agents. In a February 2013 interview with the Erie Times-News, CEO Terry Cavanaugh reaffirmed the company's commitment to this distribution channel while acknowledging the importance of also enabling customers to pay bills and file claims online.
In May 2012, it was announced that Erie Insurance had purchased the naming rights to Tullio Arena in downtown Erie, Pa. The arena was subsequently renamed Erie Insurance Arena.