E

Earned Premium: The amount of premium that has been used for certain periods of time

Earth Movement or Earthquake Exclusion: An exclusion found in most property insurance policies eliminating coverage for earth movement or earthquake, except ensuing fire

Effective Date: The date on which an insurance binder or policy goes into effect

Electrical Damage or Injury Exclusion: An exclusion usually contained in property insurance policies eliminating coverage for damage to electrical appliances caused by artificially generated currents, except for ensuing fire or explosion

Employee Dishonesty Coverage: Coverage for theft of money, securities or property by an employee

Employee Leasing: A staffing method which an employee leasing company provides all or most of its client’s employees

Employers Excess Indemnity Insurance: Insurance coverage purchased by employers that do not subscribe to the Texas Workers’ Compensation law

Employers Liability Coverage: Part 2 of the Workers’ Compensation policy which pays on behalf of the employer all sums that the employer becomes legally obligated to pay because of bodily injury by accident or disease sustained by any employee of the insured arising out of and in the course of his employment by the insured

Employment Practices Liability Insurance: A form of liability insurance covering wrongful acts arising from employment practices such as wrongful termination, discrimination and sexual harassment

Endorsement: A document attached to an insurance policy that changes the original policy provisions

Equipment Floater: A property insurance coverage for equipment that is often moved from place to place

Estimated Premium: A preliminary premium amount that could be adjusted based on a variance in exposures

Evidence of Insurability: Any statement or proof of a person’s physical condition, occupation, etc., affecting acceptance of the applicant for insurance.

Excess and Surplus Lines Insurance: Coverage that is provided by insurers not licensed in the states where the risk is located

Excess Liability Policy: A policy that provides additional limits in excess of an underlying liability policy

Exclusions: Specified hazards listed in a policy for which benefits will not be paid.

Expected or Intended: An exclusion for injury or damage that is expected or intended

Expediting Expense Coverage: Coverage providing reimbursement of expenses for temporary repairs and costs incurred to speed up the permanent repair or replacement of covered property or equipment

Expense Constant: A small flat expense charged to Workers’ Compensation policies

Experience Modifier: A debit or credit factor developed by measuring the difference between the insured’s actual past experience and the expected or actual experience of the class of business

Expiration: The ending date of an insurance policy

Exposure Base: The basis of rates that are applied to determine premium. Some exposures may be measured by payroll, receipts, sales, square footage, area, man-hours or per unit

Extra Expense Coverage: Coverage for reimbursement of expenses in excess of normal operating expenses that are incurred to continue operations after a direct damage loss

Extraterritorial Coverage: The coverage for extending workers’ compensation law to provide benefits for workers hired in one state but injured while working in another state