Earthquake Insurance
Earthquake insurance is a type of property insurance that specifically covers damages caused by earthquakes.
Insurance Glossary
Glossary/Encyclopedia of insurance terms. In addition to the brief description of insurance terms, we have also provided detailed explanation of each term. By selecting ‘More Details’ in each term, you can view the detailed explanation of the term with examples.
Effective Date
The effective date, also known as the inception date, is when an insurance policy becomes active and coverage begins.
Endorsement
An endorsement, also known as a policy change or amendment, is a modification or addition to an existing insurance policy that alters the terms of the original policy.
Endowment Insurance
Endowment insurance is a type of life insurance that combines life insurance protection with a savings plan.
Errors and Omissions (E&O) Insurance
Errors and Omissions (E&O) insurance, also known as professional liability insurance, is a type of insurance that protects businesses and professionals from financial losses caused by mistakes, errors, or negligence in providing professional services.
European Motor Insurance Green Card System
The European Motor Insurance Green Card System is an international motor insurance mechanism that enables vehicles to travel across borders in Europe with proof of valid motor third-party liability insurance.
Event Insurance
Event insurance is a type of insurance that provides coverage for losses or liabilities associated with the organization and hosting of events, such as conferences, festivals, weddings, concerts, and sporting events. It helps protect event organizers, vendors, and participants from financial losses due to unexpected events, accidents, or cancellations.
Excess and Surplus Lines Insurance
Insurance Glossary Before you begin reading, please note: The term Excess and Surplus (E&S) Lines Insurance is specific to the United States insurance market.It refers to coverage offered by insurers that are not licensed (non-admitted) in a particular state but are legally allowed to write policies for risks that the regular or admitted market cannot…
Excess Insurance
Excess insurance, also known as excess liability insurance, is a type of insurance that provides coverage above and beyond the limits of an underlying insurance policy.
Exclusion
An insurance exclusion is a provision in an insurance policy that specifically states certain risks, events, or circumstances that are not covered by the policy.
Expense Ratio
The expense ratio is a key metric used to assess the efficiency and profitability of an insurance company.
Experience Modification Factor – Workers’ Compensation Insurance (USA)
An Experience Modification Factor (commonly called Experience Mod or X-Mod) is a numerical rating factor used in Workers’ Compensation (WC) insurance in the United States to adjust an employer’s premium based on its historical loss (claims) experience compared to the industry average.
