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.

Elimination Period:

The time which must pass after filing a claim before policyholder can collect insurance benefits. Also known as "waiting period."

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.

Encumbrance

A claim on property, such as a mortgage, a lien for work and materials, or a right of dower. The interest of the property owner is reduced by the amount of the encumbrance.

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.

Expense Ratio:

The ratio of underwriting expenses (including commissions) to net premiums written. This ratio measures the company's operational efficiency in underwriting its book of business.

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:

Measure of vulnerability to loss, usually expressed in dollars or units. 

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.

Extended Replacement Cost:

This option extends replacement cost loss settlement to personal property and to outdoor antennas, carpeting, domestic appliances, cloth awnings, and outdoor equipment, subject to limitations on certain kinds of personal property; includes inflation protection coverage.

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.