Erie Indemnity may be near a lake, but it prefers pools. Founded in 1925 as an auto insurer, it now provides management services that relate to the sales, underwriting, and issuance of policies of one customer: Erie Insurance Exchange. The Exchange is a reciprocal insurance exchange that pools the underwriting of several property/casualty insurance firms. It offers coverage ranging from homeowners to boat policies through independent representatives, with a reach that extends to a dozen states east of the Mississippi River. Erie Indemnity charges a management fee of 25% of all premiums written or assumed by the Exchange. It is the only publicly traded part of the Erie Insurance Group.