Erie Insurance Group Welcomes First Outside CEO

Erie Insurance Group is welcoming the first chief executive officer to come from outside the company in its 83-year history.

Terrence Cavanaugh takes over as president and CEO of Erie Insurance on July 29. He will be the company’s eighth chief executive.

Cavanaugh comes from Chubb Corp., a New Jersey firm that is larger, but similar to Erie Insurance in its business philosophy.

Both are publicly traded Fortune 500 companies. Both sell property and casualty insurance. And both rely on a network of independent agents to sell their insurance, instead of marketing it directly over the Internet.

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Information from: Erie Times-News