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Earned Premium
That portion of the written policy premium applicable to the expired, or used, part of the period for which the premium has been charged.

Earthquake Coverage
Available under the Commercial Package policy . Requires the Coverage of Loss form – Earthquake.

Economic Loss
An estimated total cost, insured and uninsured, of mishaps (such as: vehicle accidents, work accidents, and fires); including such factors as property damage, funeral expenses, wage loss, insurance administration costs, and medical, hospital and legal costs.

Effective Date
The beginning of the policy term, usually 12:01 a.m. of the date shown.

Electronic Data Processing Coverage
Inland marine insurance designed to cover computer hardware  and  software.

Employee Dishonesty Coverage Form
Part of the Commercial Crime Coverage part of the Commercial Package policy, it covers loss resulting from dishonest acts of employees. This coverage is excluded under other Crime insurance forms. Formerly this coverage was provided under Fidelity bonds or combination policies that included Fidel ty bonds.

Employers Liability Coverage
Coverage provided under a Workers Compensation policy to cover the employer’s liability arising out of employee’s work-related injuries.

Endorsement
A document which is attached to the policy and modifies or changes the original policy in some way.

Equal Shares Clause
An insurance clause which states that when the insured has other insurance, the loss payment made by the company will be based on the number of applicable policies, not on their limits.

Equipment Dealers Coverage Form
An Inland Marine form which provides all risk coverage for mobile agricultural and construction equipment owned by or in the care of an equipment dealer.

Errors and Omissions Insurance
A form of insurance that indemnifies the insured for any loss sustained because of an error or oversight on his part.

Excess and Surplus Insurance
Markets Facilities which have the capability to provide coverage that cannot be obtained in the standard markets.

Excess Carrier
One who provides coverage over primary or underlying limits.

Excess Coverage
Coverage which applies only after limits of primary insurance have been exhausted. See Primary Insurance.

Exclusions
Section of the insurance policy which lists property, perils, persons, or situations which are not covered under the policy .

Exclusive Agency System
An insurance distribution system within which agents sell and service insurance under contracts that limit representation to one or more insurers under common management and which reserve to the insurer the ownership, use, and control of policy records and expiration data.

Exemplary Damages
Damages awarded to make an example of the wrongdoer .

Expediting Expenses
Expediting Expenses – A Boiler And Machinery coverage that covers the cost of temporary repairs and the costs of speeding up permanent repairs, i.e., over-time, or express transportation charges.

Experience
A statistical compilation of premiums and losses which establishes the loss record of an insured or of a type of insurance written.

Experience Modification Factor
Used in workers compensation rating to reflect the degree to which a particular employer has experience that is better or worse that expected for that industry.

Experience Rating
Process of determining the premium rate for a group risk, wholly or partially on the basis of that group’s experience.

Expiration Date
The date that coverage ceases to be provided by an insurance policy. Exposure: The state of being subject to the possibility of loss.

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

Extended Nonowned Coverage Endorsement
A Personal Auto policy endorsement that extends liability coverage to named individuals for a nonowned automobile which is furnished for their regular use.

Extended No-owned Coverage
A Personal Auto policy endorsement that extends liability coverage to named individuals for a nonowned automobile which is furnished for their regular use.

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

Extended Reporting Period
A period of time provided by the”claims-Made Commercial General Liability Coverage form during which coverage will be provided for claims made beyond the expiration date of the policy if the coverage part is (1) canceled or not renewed or (2) if the insurer renews or replaces the Coverage part with insurance that has a retroactive date later than the date shown in the Declarations, or with an Occurrence form. The Basic ERP runs five years. The Supplemental ERP has unlimited duration but is available only by endorsement for an extra charge.

Extortion Coverage Form
A Commercial Crime form that covers all types of property when surrendered away from the premises as a result of a threat to do bodily harm to the insured or employee, or an invitee of either, while they are being held captive, or allegedly being held captive.

Extra Expense Insurance
Covers additional expenses incurred by the insured business to continue operations following a direct loss by a peril insured against. One of the Commercial Property Coverage forms that can be included in a Commercial Package policy.

Exclusion
Certain causes and conditions, listed in the policy, which are not covered.

Expiration Date
The date on which the policy ends.