- Guides
- Erie Insurance ratings revealed: Do they indicate a strong insurer?
Discover what Erie’s insurance rating says about its strengths, and why brokers trust the insurer for reliable coverage and client satisfaction
In the immense US insurance market, consumers can be overwhelmed by the myriad choices as they search for insurance products to meet their coverage requirements. As a broker, it’s your job to provide as many insurers as possible for them to choose from. One potential pick is Erie Insurance.
When reviewing an insurance company’s viability, it helps to look at key metrics that show if it is financially stable and reliable in honoring claims. In this review, we’ll look at Erie’s insurance ratings from A.M. Best and other agencies. These and other key indicators will help you make an informed decision about the insurer.
Erie Insurance rating: Financial strength
Before you endorse any product or service to clients, it’s standard practice to do due diligence and to take into account the company’s size and key performance indicators. In the case of insurance companies, their financial strength ratings (FSR) and other pertinent disclosures like financial statements are a good start.
To evaluate whether an insurance provider like Erie and its products are viable, it is essential to look at their financial strength. The FSR of an insurer is a key determinant of whether they can honor claims.
So, how does Erie Insurance rank? Based on the latest available data, here’s what our research found:
A.M. Best: A+ or Superior
A.M. Best gave Erie Insurance an FSR of A+ or Superior. This is the highest rating that the company provides. An A+ rating from A.M. Best means that the insurer has a strong ability to meet ongoing policy and contractual obligations. It’s important to note that Erie’s long-term outlook was revised to “negative” in August of 2024.
This decision by A.M. Best to make changes to Erie’s insurance rating was prompted by recent surplus losses and increased claims severity. However, the overall FSR of Erie remains at A+. Insurance ratings agency A.M. Best also affirmed the long-term issuer credit rating (ICR) of “aa-” for the property and casualty members of Erie Insurance, but with the same negative outlook.
Fitch, Moody’s, and S&P did not provide financial strength ratings for Erie Insurance as these rating agencies tend to focus on larger national carriers.
Erie Insurance rating: issuer credit
As with FSR, the most recent issuer credit ratings also come from A.M. Best. This indicates the insurer’s creditworthiness. Erie Insurance has two main divisions that handle different insurance categories: