Each and Every Claim

Generally the same as any one claim. You may also come across the term, “each and every claim and in all”, which effectively means an aggregate limit of indemnity.

Efficacy

Legal liability in respect of loss of or damage to property due to, or alleged to be due to the failure of any equipment manufactured, supplied, installed, serviced or repaired by or on behalf of the insured correctly to perform its intended function.

Endorsement

Any writing on or addition to a Policy or any addition to the printed wording which changes or varies terms of, or parties to, the contract.

Excess

The first portion of a Loss, being an agreed percentage or fixed sum that the Insured agrees to bear or a portion another Insurer is bearing.

Excess Excluding Costs and Expenses

The excess will not apply to the costs and expenses incurred in defending the claim.

Excess Inclusive of Costs and Expenses

The excess will apply to the cost of defending claims and the expenses incurred in engaging expert witnesses etc.

Exclusion

A provision in a Policy that excludes the Insurer's liability in certain circumstances or for specified types of Loss.

Expiration Date

The date on which the Policy ends.

Extension

A clause within the policy which provides cover in addition to the main policy wording. These extensions may involve providing cover subject to certain requirements on the part of the insured.

Employment Practice Liability Insurance

Employment Practices Liability Insurance provides defense of an action being brought by a complainant and payment of any damages awarded. It can also include cover for Criminal Prosecutions and any Administrative or Regulatory Proceedings (cover can not include fines or penalties imposed).