E
EA - Enrolled Actuary (individual who has met professional standards of the Internal Revenue Service (IRS) and the Department of Labor (DOL) for signing the actuarial reports required by the Employee Retirement Security Act of 1974 - Title II - an enrolled actuary may certify that benefit cost and funding requirements of a pension plan have been calculated according to accepted actuarial principles)
EAB - experience account balance (balance in an experience account - an account into which premiums are deposited, as part of a finite risk insurance program - the account is a reserve fund established for specific programs - it earns investment income and pays out losses, and the balance is returned to the insured)
EAP(s) - Employee Assistance Program(s) (employer-sponsored programs that deal with or assist employees in dealing with personal and family problems, such as alcohol and drug abuse, marital problems, workplace violence, compulsive gambling, legal problems, and care of elderly relatives)
EAP - estimated annual premium ()
EAR - erection all risks insurance (insurance policies designed to cover the risk of loss arising out of the erection and installation of machinery, plant and steel structures, including physical damage to the contract works, equipment and machinery, and liability for third-party bodily injury (BI) or property damage (PD) arising out of these operations - normally these policies involve construction projects outside the U.S.)
EBIDDA - earnings before interest, dividends, depreciation, and amortization (a form of cash flow measure, useful for evaluating the operating performance of companies with high levels of debt)
EBIT - earnings before interest and taxes (cash flow measure which provides a means of comparing operational performance)
EBRI - Employee Benefit Research Institute ()
EC - extended coverage (a common extension of property insurance beyond coverage for fire and lightning - extended coverage adds insurance against losses such as from windstorm, hail, explosion, riot and riot attending a strike, aircraft damage, vehicle damage, and smoke damage)
EC - extended coverage endorsement (an endorsement to a standard fire policy adding coverage for listed perils, such as windstorm, hail, explosion (except of steam boilers), riot, civil commotion, aircraft, vehicles, and smoke - the EC perils are now included in most property policies without the need for a separate endorsement)
ECC - Eastern Claims Conference ()
ECF - extended care facility ()
ECFC - Employers Council on Flexible Compensation ()
ECI - export credit insurance ()
ECO - extracontractual obligations (a generic term that, when used in reinsurance agreements, refers to damages awarded by a court against an insurer or reinsurer that are outside the provisions of the insurance policy, due to the insurer's bad faith, fraud, or gross negligence in the handling of a claim)
ECOR - economic cost of ruin (an enhancement to the probability of ruin concept in which the severity of ruin is also reflected - represents the expected shortage in funds due to policy holders in the event of liquidation)
ECP - exempt commercial policyholder
ECPA - Electronic Communications Privacy Act of 1986 (prohibits wire or electronic service providers from releasing information regarding customers' communications, unless the release is specifically authorized by a court order, subpoena, warrant, or other exception)
EDC - Export Development Corporation ()
EDD - enforcement decision document (a document that provides an explanation to the public of the Environmental Protection Agency's (EPA's) selection of the cleanup alternative at enforcement sites on the National Priorities List (NPL))
EDI - electronic data interchange (transferring data between organizations/companies using computer networks such as the Internet - transfer of information between organizations in machine-readable form in order to carry out business transactions - method used to increase efficiency and reduce costs in areas such as workers compensation insurance by using a single database system linking various components of claims processing)
EDP - electronic data processing (processing of data using computer equipment, computer programs, and systems)
EDP - electronic data processing coverage (specialized type of insurance designed to cover computer equipment, data systems, information storage media, and expenses or income loss related to EDP losses)
EDP - extended discovery period (a provision of coverage in claims-made policies, for claims brought against the insured following cancellation of the policy if the event(s) that caused the damage or injury occurred prior to the policy's cancellation)
EDP - extended discovery provision (a clause that allows an insured to report (and ultimately receive coverage for) claims that are made against it after the expiration of a claims-made policy period)
EEB - Earnings Enhancement Benefit (provision attached to a variable dollar annuity that will pay the beneficiary an additional sum of money upon the death of the owner of the annuity)
EEL - Emergency Exposure Limit (maximum amount of a toxic agent to which an individual can be exposed for a very brief (emergency) period of time and still maintain physical safety)
EEOC - Equal Employment Opportunity Commission (federal agency which enforces the principal federal statutes prohibiting discrimination in employment - estabished by the Civil Rights Act of 1964)
EFT - electronic funds transfer (transfer of funds between accounts by electronic means in contrast to transfers by conventional paper-based payment methods, such as checks or drafts)
EFT - electronic funds transfer system coverage (a financial institution crime coverage insurance that relates to the erroneous transferring of funds to or from the checking or savings account of a customer based upon instructions fraudulently transmitted by a nonemployee)
EGTRRA - Economic Growth and Tax Relief Reconciliation Act of 2001 (2001 legislation that increased contribution limits and deductions to qualified retirement plans)
EH&S - Environmental Health and Safety ()
EIFS - exterior insulation and finish systems (multilayered exterior wall systems designed to provide high energy efficiency in both residential and commercial buildings)
EIL - environmental impairment liability (liability for damages or lawsuits arising from environmental damage caused by the negligent acts and/or omissions of individuals and/or organizations)
EIL - environmental impairment liability insurance (insurance coverage for lawsuits arising from environmental damage caused by individuals or organizations)
EIS - Environmental Impact Statement (a document required of federal agencies by the National Environmental Policy Act (NEPA) for major projects or legislative proposals significantly affecting the environment)
EJCDC - Engineering Joint Contracts Documents Committee (a joint venture of key contractor and engineering professional associations charged with producing standardized documents for use on construction projects involving the use of engineering services, as well as guidelines and commentaries on the use of these products)
EL - employers liability insurance (coverage for damages an employer becomes obligated to pay under workers compensation for injuries or disease an employee sustains in the course of employment)
EL - expected loss (measure of loss for losses of a particular type suffered by an organization during a given period, calculated using an estimated loss frequency multiplied by the estimated loss severity, summed for all exposures)
ELL - educators legal liability insurance (insurance 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 - typical claims involve wrongful termination, wrongful dismissal, failure to grant tenure, and negligent counseling)
ELP - excess loss premium factor (a factor used to calculate the charge to an insured under a retrospective rating plan to limit individual losses to a specified level)
ELR - expected loss rate ()
EMAP - Environmental Monitoring and Assistance Program ()
EMT - emergency medical technician (individual(s) providing medical services to individuals suffering medical emergencies from medical conditions, such as heart attacks, or injuries from accidents)
EMT - emergency medical technician and paramedics professional liability (coverage to protect a municipality or an independent emergency medical technician (EMT) service organization and employees against liability arising from providing paramedical services)
ENCP - ERISA non-compliance program ()
E&O - errors and omissions insurance (an insurance form that protects the insured against liability for committing an error or omission in the performance of professional duties)
E&O - errors and omissions clause (a provision, usually in an obligatory reinsurance treaty, stating that an error or omission in reporting a risk that falls within the automatic reinsurance coverage under such treaty will not invalidate the liability of the reinsurer on the omitted risk)
EOB - explanation of benefits (the statement sent to a participant in a health plan listing services, amounts paid by the plan, and total amount billed to the patient)
EP - earned premium (that portion of a policy's premium that applies to the expired portion of the policy)
EPA - Environmental Protection Agency (federal agency with oversight of activities impacting the environment)
EPC - engineering/procurement construction ()
EPD - expected policyholder deficit ()
EPL - employment practices liability (liability resulting from wrongful acts arising from the employment process, such as wrongful termination, discrimination, and sexual harassment)
EPL - employment practices liability insurance (a form of liability insurance covering wrongful acts arising from the employment process - most frequently involving claims alleging wrongful termination, discrimination, and sexual harassment)
EPO - Exclusive Provider Organization (healthcare organization that is part of a Preferred Provider Organization (PPO) in which enrollees select an EPO provider to act as their primary care physician, who also serves as a gatekeeper, who approves the maximum level of benefits to which the enrollee is entitled)
EPS - earnings per share (measure of a firm's profitability in relation to stockholder shares or on a per share basis)
EQ - earthquake
ERD - expected reinsurer deficit (a method of testing reinsurance contracts to determine whether there is actual risk transfer - the transfer of risk or loss to another party)
ERIC - ERISA Industry Committee
ERISA - Employee Retirement Income Security Act of 1974 (law that established rules and regulations to govern private pension plans, including vesting requirements, funding mechanisms, and general plan design and descriptions)
ERM - enterprise risk management (an approach to identifying, defining, quantifying, and dealing with all of the risks facing an organization, whether insurable or not - such risks can include hazard or event risk, operational risk, credit risk, and financial risk)
ERP - extended reporting period (a period allowing for making claims after expiration of a claims-made liability policy - also known as a tail)
ERPI - Extended Reporting Period Insurance (insurance policy underwritten on either a monoline (single line - a line is a general class of insurance, such as property or liability insurance) primary insurance or monoline excess insurance basis, that will allow the purchaser to increase the limits of liability coverage above that of policies already purchased, as well as filling gaps in liability coverage - relates to claims or costs falling outside the normal claims reporting period)
ERPL - employment-related practices liability policy (standard policy form covering employment practices liability (EPL) exposures promulgated by Insurance Services Office, Inc. (ISO), and filed in the various states for use by its member insurers)
ERSC - Environmental Response Services Contractor ()
E&S - excess and surplus (lines) insurance (any type of coverage that cannot be placed with an insurer admitted to do business in a certain jurisdiction - risks placed in E&S lines markets are often substandard as respects adverse loss experience, unusual, or unable to be placed in conventional markets due to a shortage of capacity)
ESA - employee spending account ()
ESA - Environmental Site Assessment ()
ESG - Environmental, Social, (Corporate) Governance (an approach to doing business, making investment decisions, and analyzing risk, which focuses on the environmental consequences/impacts, such as climate change and pollution, social issues, such as community relations, and corporate governance, such as board of directors makeup, treatment of employees, and political activities and involvement)
ESH - Environmental Safety and Health ()
ESOP - Employee Stock Ownership Plan (type of benefit in which an employee obtains shares of stock in the company, the amount normally determined by the employee's level of compensation)
ESOT - Employee Stock Ownership Trust ()
ETB - engaged in trade or business (a U.S. income tax term referring to an offshore captive whose business is really being run from onshore, which makes it fully taxable in the U.S.)
EU - European Union (political organization representing member European states/countries)
EUO - examination under oath (legal mechanism, sometimes employed in insurance claims disputes, in which an insured can be required to provide sworn testimony, subject to cross-examination by the insurer, relating to a policy and loss claim)
EVA - economic value added (a corporate performance measure that stresses the abiity to achieve returns above the firm's cost of capital)
EVOIL - Economic Value of an Individual Life (quantitative measure to determine the amount of life insurance required to replace lost future earnings of a wage earner)
EXIMBANK - Export-Import Bank of the United States (independent federal agency set up by Congress in 1934 to finance export of U.S. products by making intermediate and long-term nonrecourse loans to exporters when financing is unavailable from private lenders)
EXPRO - expedited process ()