ERIE, Pa., Aug. 12, 2014 /PRNewswire/ -- For the second year in a row, Erie Insurance received top honors on the J.D. Power Small Business Commercial Insurance Study, which evaluates small business owners' satisfaction with commercial insurance policies. To complete its study, analysts measured responses from 3,525 people, ranking 14 small business insurance providers.
"Having knowledgeable insurance agents to guide customers through the complex process of buying small business insurance is one of the most important ways we build trust. The importance of that relationship is reflected in our score on this study – 30 points above the national average," said Terry Cavanaugh, president and CEO of Erie Insurance. "Receiving this recognition, especially after being ranked "Highest in Customer Satisfaction with the Auto Insurance Purchase Experience" by J.D. Power for the second year in a row is truly an honor."
The 2014 Small Business Commercial Insurance Study measured five factors to determine overall; satisfaction. Those factors were: price, payment/billing, policy offerings, claims and interaction (agent, broker, customer service representative and web). The study included businesses with 50 or fewer employees that purchased either commercial property or general liability insurance.
To learn more about the J.D. Power 2014 Small Business Commercial Insurance Study, visit www.jdpower.com.
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer and 12th largest automobile insurer in the United States based on direct premiums written and the 16th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has nearly 4.9 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 and Barron's 500 company. Erie Insurance is proud to have received the J.D. Power awards for "Highest in Customer Satisfaction with the Auto Insurance Purchase Experience" two years in a row. ERIE has also been recognized by Forbes as one of America's 50 Most Trustworthy Financial Companies and is on the list of Ward's 50 Group of top performing insurance companies, which analyzes the financial performance of 3,000 property and casualty companies and recognizes the top performers for achieving outstanding results in safety, consistency and financial performance over a five-year period (2009-2013).