Insurance Glossary

Errors & Ommissions

Excess & Surplus Lines Insurance

Erection All Risks Insurance

Export Credits Guarantee Department

Energy Exploration and Development [Policy form for Control of Well insurance introduced by the London Rig Committee in 1985 to overcome problems of ‘kicks’ under OEE policy forms. The form was revised a year later and become the standard policy wording identified as the EED (8/86) form]

Each and Every Loss

Each and Every Other Loss

Each and Every Risk

Environmental Impairment Liability: liability coverage for PD/BI claims arising from environmental impairment (pollution)

Employers’ Liabilty: covers statutory liability with respect to employee injury

Estimated Maximum Loss

Covers statutory liability with respect to employee injury. Not the same as Employment Practices Liability

Covers the employer for employee claims re discrimination, harassment and wrongful dismissal.

Environmental Impairment Liability: liability coverage for PD/BI claims arising from environmental impairment (pollution)

Engineer-Procure-Construct/Engineering, Procurement and Construction

Employment Practices Liability Insurance: covers the employer for employee claims re discrimination, harassment and wrongful dismissal.

Applies to that portion of a loss or damage which exceeds a specified amount. The attachment point is usually more than a million dollars

Usually describes punitive damages, ie damages awarded by a court to punish the guilty party in a law suit. Typically excluded or not insurable at all.