Glossary of terms used on this site
Term | Definition |
---|---|
Earned Premium | |
Elimination Period | The time which must pass after filing a claim before policyholder can collect insurance benefits. Also known as "waiting period." |
Employers Liability Insurance | |
Exclusions | Items or conditions that are not covered by the general insurance contract. |
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. |
Exposure | Measure of vulnerability to loss, usually expressed in dollars or units. |
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. |