History of Erie Insurance Group in Timeline

Erie Insurance Group, headquartered in Erie, Pennsylvania, is a property and casualty insurance provider. They offer a range of insurance products, including auto, home, business, and life insurance, distributed through independent agents. The company is a prominent player in the insurance industry and was ranked 347th on the 2021 Fortune 500 list based on its 2020 fiscal year revenue.

April 20, 1925: License Issued

On April 20, 1925, the Pennsylvania Insurance Department issued a license to the Erie Insurance Exchange as an automobile insurer, marking the beginning of its operations. Erie Insurance Exchange was formed as a reciprocal and Erie Indemnity Company was formed as its managing company, charging an annual premium of $34 per auto.

1925: Company Creation

In 1925, H.O. Hirt and O.G. Crawford left Pennsylvania Indemnity Exchange to create Erie Insurance Exchange. They raised $31,000 from 90 stockholders to start their auto insurance company.

1928: Expansion to Pittsburgh

In 1928, Erie Insurance expanded its operations from Erie to Pittsburgh, Pennsylvania.

1934: Super Standard Auto Policy Created

In 1934, Erie Insurance created the "Super Standard Auto Policy" with extra coverage such as "Drive Other Car" coverage and waiving collision deductibles between two ERIE-insured vehicles, which became a model for other insurance companies. Later, the company expanded into home, business and life insurance.

1953: Branch Campus in Maryland

In 1953, Erie Insurance expanded its footprint outside of Pennsylvania, opening a branch campus in Silver Spring, Maryland.

1991: Ward's 50 List

Since 1991, Erie Insurance has been on the Ward's 50 list, which ranks property-casualty insurance companies based on financial safety, consistency, and performance over five years.

2003: Fortune 500 Debut

In 2003, Erie Insurance made its debut on the Fortune 500 list.

2005: Corporate Mark Update

In 2005, Erie Insurance updated its corporate mark, which includes the company's name and a graphic of the cupola from the H.O. Hirt Building in Erie, Pennsylvania; the design was originally introduced in the '90s.

May 2012: Naming Rights Purchase

In May 2012, Erie Insurance purchased the naming rights to Tullio Arena in downtown Erie, PA, renaming it Erie Insurance Arena.

February 2013: Commitment to Independent Agencies

In a February 2013 interview, Erie Insurance CEO Terry Cavanaugh reaffirmed the company's commitment to selling its products through a network of independent agencies while acknowledging the importance of enabling customers to pay bills and file claims online.

2013: Awards from Magazines

Since 2013, Black EOE Journal and Hispanic Network Magazine have awarded Erie Insurance the top insurance company.

2017: ACE Award

In 2017, Erie Insurance earned the ACE (Achievement in Customer Excellence) Award in the Voice of the Customer category for claims service for the second consecutive year.

2017: Corporate Equality Index Score

In 2017, Erie Insurance received a perfect score of 100 percent on the Corporate Equality Index, which is a national benchmark on corporate policies and practices related to LGBT workplace equality.

2018: Ward's 50 Recognition

In 2018, Erie Insurance Group was named to Ward's 50 top-performing property-casualty insurers. Erie Insurance Group has also earned A.M. Best's rating of A+ (Superior). Erie Family Life Insurance Company has earned A.M. Best's rating of A (Excellent).

2018: Largest Employer

In 2018, Erie Insurance became Erie County, Pennsylvania's largest employer with more than 2,800 employees locally.

February 2020: Forbes Recognition

In February 2020, Forbes recognized Erie Insurance as one of the best employers for diversity.

2020: Fortune 500 Ranking Basis

The Fortune 500 rank of Erie Insurance Group in 2021 was based on the company's total revenue for the 2020 fiscal year.

2021: Fortune 500 Rank

In 2021, Erie Insurance Group was ranked 347th on the Fortune 500 list of largest American corporations based on total revenue for the 2020 fiscal year.