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E Earned Premium
1) That portion of premium earned or charged for the period of time a policy remained effective. For example, an annual policy paid for in advance would be one twelfth "earned" at the end of the first full month of its term.
2) An amount calculated by taking earned premium reserve at beginning of period plus premium written during period, less unearned premium reserve at end of period.
3) Premium actually exposed to loss. Earthquake Insurance
Insurance against damage by earthquake. Effective Date
The date of inception of an insurance policy, or the date additional coverages become effective. Encumbrance
Mortgage, lien or other charge against a property. Endorsement
An amendment added to a written document, particularly an agreement between parties, altering its provisions. Equipment
Material for use on one machine, one vehicle, one unit. For example, a car comes "equipped" with five tires. Tires other than those on the car are not "equipment" of the car. They are instead the dealer's "stock of tires." Equipment also includes contractor's equipment, e.g., backhoe, bulldozer. Estate
1) In law, one of the various interests in land.
2) The net worth of an individual's worldly goods. Exclusion
Risks, perils or properties defined in the policy as not covered. Experience
Comparison of premiums earned with claims incurred for: a) an individual insured b) group of insureds c) class of coverage.
Expiry
End of the policy period.
Explosion
A rupture of a pressure vessel of some kind due to excessive internal pressure (usually accompanied by a loud noise).
Exposure
The hazard threatening a risk because of external or internal physical conditions.
Extended Coverage Insurance
An endorsement that enlarges the coverage afforded by the primary policy. Coverages such as windstorm, hail, smoke, riot are extended coverages on a fire policy.
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