Are you familiar with the Erie Insurance Group? Well, if you are not then here’s a quick introduction. As you may have gathered from its name, this is a multi-line insurance company or group that provides people with home, vehicle, life and commercial insurance through its network of independent insurance agents. It has presence in numerous places besides Erie. You would be able to find one in 11 different states and in the District of Columbia which includes Maryland, Illinois, New York, Ohio, Wisconsin, Tennessee and Virginia to mention a few. The company has a long and reputable history. It began its operations back in April 1925. It was a modest beginning and back then, they were known as auto insurers. The annual premium charge per vehicle back then was $34. Between the years since then, the company has experienced many different things and has undergone a number of changes but their motto remains the same. It is: “To provide our policyholders with as near perfect protection, as near perfect service as humanly possible and to do so at the lowest possible cost”. Surely with a motto like that, you cannot help but feel a bit curious as to what the Erie Insurance Group has to offer.
To help you get to know the company better, here are a few more tidbits:
1. Currently, Erie Insurance has the highest ranking among the different auto insurance companies when it comes to client satisfaction with their third year of purchase. This is according to the J.D. and Associates 2010 Shopping Study.
2. In the United States, Erie Insurance Group is actually the 484th largest corporate group when it comes to revenue. This is according to Fortune Magazine 2010.
3. It is also the 22nd largest casualty/property insurer based upon Policyholder surplus. Besides this, it is also the 19th largest casualty/property insurance group in the United States based upon the total lines net premiums written. In Pennsylvania, it is the 3rd largest auto insurer and in the United States, it is ranked as 13th largest based upon the direct premiums written.
4. Did you know that the Erie Insurance Group actually has 4 million policies currently in force for vehicles, commercial and home? As for life, disability and annuity, they currently have 313,000 in force.
5. There are around 2,000 different agencies that represent Erie Insurance in 11 different states including the District of Columbia.
6. At the company’s head office that’s located in Erie, Pennsylvania and in other field offices located in the territory, there are currently 4,300 employees. This means that the Home Office alone currently employs more than 2,280 people.
Now, when it comes to choosing an insurance company to work with, most people would want to know if there are financially stable. Well, Erie’s casualty/property companies are all rated A+ by the A.M. Best Company which is the leading authority when it comes to insurance companies. They are also included in the Ward Group’s 2010 national list of the Top 50 insurers when it comes to Casualty/Property for their financial stability, performance and consistency.
So there you have it, a quick introduction to the Erie Insurance Group.
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