Causes of loss that produce direct and straightforward property damage (without interruption in time or deviation in space) from the cause of the event to the damaged property.
Payment of twice the basic benefit in the event of loss resulting from specified causes or under specified circumstances.
Driver Other Car Endorsement:
An endorsement that can be added to an automobile policy that gives protection while the insured designated in the endorsement is driving a car other than the one named in the policy.
Drop Down Provision:
A clause used in Umbrella policies providing that the Umbrella will ‘drop-down’ over underlying policy aggregate limits when they have been reduced or exhausted.
The amount of premium that has been used for certain periods of time.
Earth Movement or Earthquake Exclusion:
An exclusion found in most Property insurance policies eliminating coverage for earth movement or earthquake, except ensuing fire.
The date on which an insurance binder or policy goes into effect.
Electrical Damage or Injury Exclusion:
An exclusion usually contained in Property insurance policies eliminating coverage for damage to electrical appliances caused by artificially generated currents, except for ensuing fire or explosion.
Employee Dishonesty Coverage:
Coverage for theft of money, securities or property by an employee.
A staffing method which an employee leasing company provides all or most of its client’s employees.
Employers Excess Indemnity Insurance:
Insurance coverage purchased by employers that do not subscribe to the Texas Workers’ Compensation law.
Employers Liability Coverage:
Part 2 of the Workers’ Compensation policy which pays on behalf of the employer all sums that the employer becomes legally obligated to pay because of bodily injury by accident or disease sustained by any employee of the insured arising out of and in the course of his employment by the insured.
Employment Practices Liability Insurance:
A form of Liability insurance covering wrongful acts arising from employment practices such as wrongful termination, discrimination and sexual harassment.
A document attached to an insurance policy that changes the original policy provisions.
A Property insurance coverage for equipment that is often moved from place to place.
A preliminary premium amount that could be adjusted based on a variance in exposures.
Evidence of Insurability:
Any statement or proof of a person’s physical condition, occupation, etc., affecting acceptance of the applicant for insurance.
Excess and Surplus Lines Insurance:
Coverage that is provided by insurers not licensed in the states where the risk is located.
Excess Liability Policy:
A policy that provides additional limits in excess of an underlying Liability policy.
Specified hazards listed in a policy for which benefits will not be paid.
Expected or Intended:
An exclusion for injury or damage that is expected or intended.
Expediting Expense Coverage:
Coverage providing reimbursement of expenses for temporary repairs and costs incurred to speed up the permanent repair or replacement of covered property or equipment.
A small flat expense charged to Workers’ Compensation policies.
A debit or credit factor developed by measuring the difference between the insured’s actual past experience and the expected or actual experience of the class of business.
The ending date of an insurance policy.
The basis of rates that are applied to determine premium. Some exposures may be measured by payroll, receipts, sales, square footage, area, man-hours or per unit.
Extra Expense Coverage:
Coverage for reimbursement of expenses in excess of normal operating expenses that are incurred to continue operations after a direct damage loss.
The coverage for extending Workers’ Compensation law to provide benefits for workers hired in one state but injured while working in another state.
The amount covered by the terms of an insurance contract, usually found on the first page of the policy.
The liability placed on trustees, employers, fiduciaries and professional administrators with respect to errors and omissions in the administration of employee benefit programs.
Expenses incurred at the time of a person’s death. These include but are not limited to: Funeral costs, court expenses, current bills or debt, mortgages, loans and taxes.
Fine Arts Coverage:
Property insurance for works of art.
Fire Department Service Charge Coverage:
Coverage in a Property insurance policy for charges incurred by the insured from a fire department for their services in fighting a fire.
Fire Legal Liability Coverage:
Liability coverage for the insured’s legal liability for fire damage to premises rented by the insured.
A wall designed to prevent the spread of fire from one part of a building to another.
A computer that protects a company’s private network from outside internet users.
A death benefit, the dollar amount of which does not vary.
The full cancellation of a policy as of the effective date of coverage which requires the return of paid premium in full.
Coverage for damage to property caused by flood.
A provision in most all Property insurance policies eliminating coverage for damage by flood and possibly other types of water damage, such as seepage and sewer backup.
An Umbrella policy provision that follows the underlying policy for coverage and policy provisions.
Forgery or Alteration Coverage:
Covers loss due to the dishonesty of writing, signing or altering of checks and bank drafts.