Glossary

The eligibility period is that period during which members of a given group may enroll in a group benefits program (e.g., 401(k) plan, health insurance, disability insurance, or life insurance).

The elimination period refers to a waiting period or a probationary period that must run before benefits are payable under a disability income plan or policy.

Embedded value is the measure of the value of business currently on the books of an insurance company; it comprises adjusted net worth (the market value of assets supporting the surplus) plus the present value of expected future profits on in-force business. Embedded value differs from appraisal value in that the latter also includes the value of future new business. The performance measure is often expressed in terms of growth (i.e., year-on-year increase) in embedded value.

Emergency medical technician and paramedics professional liability (EMT) insurance provides coverage to a municipality or an independent emergency medical technician service organization and its employees against liability arising from paramedical services. There is usually no coverage for dishonest acts, paramedics' performance in administering general anesthesia, punitive damages, or medical malpractice claims against a paramedic who is also a physician, surgeon, or dentist.

The Emergency Medical Treatment and Active Labor Act (EMTALA) is a law imposing liability on hospitals for what is known as "patient dumping. This occurs when (1) a hospital that is capable of providing the necessary medical care transfers a patient to another facility or (2) a hospital simply turns the patient away due to the person's inability to pay for services. EMTALA was enacted to ensure that every patient whom a hospital determines to have an emergency medical condition either be treated until stabilized or appropriately transferred to another medical facility unless the patient refuses to consent to the recommended treatment or transfer. Hospitals that knowingly, willfully, or negligently fail to comply with the requirements of EMTALA legislation are subject to termination or suspension of their Medicare provider agreements. Hospitals, as well as their responsible physicians, are also subject to civil monetary penalties of up to $50,000 for each violation of the provisions. Hospitals and physicians may also be subject to medical professional liability in state or federal court if patients are injured as a result of inappropriate transfer.

Emergency response plan is set of written procedures for dealing with emergencies that minimize the impact of the event and facilitate recovery from the event.

Emergency response values are measures of chemical concentrations, published by various groups, that define acceptable levels for short-term exposures in emergencies.

Employed lawyers professional liability insurance covers lawyers who are employed by corporations rather than law firms, or those operating as sole practitioners. The need for such policies arises from the fact that both commercial general liability (CGL) and directors and officers (D&O) liability policies generally exclude coverage for the acts of professionals, including attorneys who work for corporations.

Employees as additional insureds is a form of general liability endorsement used with pre-1986 commercial general liability (CGL) forms to provide insured status to employees of the named insured business. Employees are automatically insureds under current editions of the CGL coverage form; no endorsement is necessary to effect this coverage.

The Employees as Insureds Endorsement (CA 99 33) may be used to extend nonowner liability coverage to cover the individual liability of employees while they are using their own autos in the employer's business. Without this endorsement, the auto coverage forms specifically exclude coverage for the liability of an employee if the covered auto is owned by that employee or a member of his or her household.