Glossary
Educators legal liability (ELL) insurance is designed to cover a broad range of nonbodily injury/nonproperty damage liability claims made against the administrators, employees, and staff members of both schools and colleges.
Read MoreAn EEO-1 Report is a survey form that requires employers to designate employees into five major race/ethnic designations used by the Equal Employment Opportunity Commission (EEOC).
Read MoreThe effective date refers to when an insurance binder or policy becomes effective and from which time protection is provided.
Read MoreThe sum of federal and state taxes applicable to an insured's income, taking into account losses carried forward.
Read MoreEfficacy insurance guarantees the owner's debt service if the insured project cannot perform at the anticipated capacity due to deficiencies in the system's design, materials, or construction.
Read MoreAn election window is the period during which an insured under a claims-made policy may purchase an extended reporting period (ERP), following expiration or cancellation of the policy.
Read MoreElective benefits refer to disability income policies that allow the insured the option to take a specified sum for certain minor injuries instead of receiving the disability benefit.
Read MoreThe electrical damage or injury exclusion is an exclusion contained in most property insurance policies eliminating coverage for damage to electrical devices caused by artificially generated currents, except for ensuing fire or explosion.
Read MoreElectronic commerce means the conducting of financial transactions or business transactions, including the buying, selling, and advertising products or services, over the Internet.
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