shares of Erie Indemnity Co (ERIE) on
Erie Indemnity Co. engages in the insurance business and operates as an attorney-in-fact. The company is headquartered in Erie, Pennsylvania and currently employs 5,500 full-time employees. The firm 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 firm’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 underwriting services the Company provides include underwriting and policy processing expenses. The company provides information technology services that supports various functions. The remaining services the Company provides include customer service and administrative costs.