Erie-based Erie Insurance, the 12th largest homeowners insurer, 13th largest automobile insurer and 13th largest commercial lines insurer in the United States, recently launched a private charitable foundation.
Erie Insurance Foundation will consolidate charitable giving funds and activities the Erie Giving Network previously coordinated. By having separate nonprofit organizations, the foundation’s board of directors and officers will be able to direct its investment decisions, charitable strategy and grant funding.
Erie Indemnity Company, Erie Insurance’s management company, donated $100 million to launch the initiative and seed the foundation’s endowment.
“At Erie Insurance, service has been central to our success for 100 years,” said Christy Blashock, Erie chief diversity and community development officer who will also serve as president of the Erie Insurance Foundation. “We understand and embrace our great responsibility to help grow and develop communities where our own ERIE Family lives and works. A century later, these ideals remain at the heart of who we are at ERIE. This substantial seed gift, and the foundation itself, will provide support for charitable organizations well into the future.”
The foundation’s creation is part of the company’s 100th anniversary celebration.
Erie Insurance operates in 12 states and the District of Columbia and has more than 7 million active policies.