Profile: Erie Indemnity Co (ERIE.O)
20 Jul 2018
Erie Indemnity Company, incorporated on April 17, 1925, is a management company. The Company serves as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Exchange is a reciprocal insurer that writes property and casualty insurance. The Company's function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange. The sales related services the Company provides include agent compensation, and certain sales and advertising support services. Agent compensation includes scheduled commissions to agents based upon premiums written, as well as additional commissions and bonuses to agents. The Exchange subsidiaries include Erie Insurance Company, Erie Insurance Company of New York, Erie Insurance Property and Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (EFL).
The underwriting services the Company provides include underwriting and policy processing expenses. It provides information technology services that supports various functions. The remaining services the Company provides include customer service and administrative costs. The Exchange is engaged in insuring preferred and standard risks, with personal lines and commercial lines. The principal personal lines products are private passenger automobile and homeowners. The principal commercial lines products are commercial multi-peril, workers compensation and commercial automobile.
Erie Indemnity Co
100 Erie Insurance Place
ERIE PA 16530-0001