E-Media Wrongful Act (Cybercoverage) is coverage contained in some network security liability insurance policies that may cover any negligent act, error, or omission by the insured that results in copyright, trademark, or service mark infringement; misappropriation of intellectual property rights; humiliation, slander, patent infringement; illegal eviction, violation of the right to privacy, entry into the territory; plagiarism; reputational damage; and other similar risks specified in a particular policy. Such policies may also apply to the insured in the event of misappropriation or misdirection by the insured messages of third party Internet content. This may include meta tags, website names and domains, and other cyber information.
Earned premium (EP) is that portion of the policy premium that is applied to the portion of the policy that has expired. While insurance premiums are often paid upfront, insurers usually “earn” the premium at a flat rate over the life of the policy. The unearned portion of the premium paid is kept in the “unearned premium reserve”.
Earned reinsurance premium is the amount of premium allocated to the portion of the policy period that has elapsed at any given time. Reinsurance premiums are usually paid at the start of the underlying policy to which they apply. Reinsurers recognize the premium as earned after the lapse of time during the period of the underlying policy.
Surplus earned is the money earned by an insurance company (including captives and risk retention groups (RRGs)) after all losses and expenses have been paid. Once the earned surplus is recognized, it can be allocated to equity and/or dividends.
Earnings before interest, dividends, depreciation and amortization (EBIDDA) is a form of cash flow measurement useful for evaluating the operating performance of companies with high levels of debt (when debt servicing costs can outperform other metrics such as net income). Used in enterprise risk management (ERM).
Earnings guidance is a practice in which corporations disclose quarterly to both securities analysts and the public the level of earnings that the company expects to report in the near future. Critics argue that dropping quarterly earnings guidance will help companies focus on long-term rather than short-term results, which should ultimately increase shareholder value. Another argument against publishing earnings forecasts is that they often encourage undesirable behavior by executives (such as artificially boosting earnings) in an attempt to reach targets, sometimes resulting in lawsuits against corporate directors and officers. In March 2007, the US Chamber of Commerce recommended that businesses stop publishing quarterly earnings forecasts.
Income insurance is a type of business interruption insurance that uses a monthly indemnity limit instead of a co-insurance clause. The declarations show both the total insurance limit and the portion of that total limit (expressed as a fraction: one third, one quarter, etc.) applicable to the loss in each month following the direct damage loss. Monthly Insurance Claim Limit on Office Services, Inc. Insurance Forms. (ISO) for business income coverage approximates the insurance coverage provided in the form of income insurance.
The earth movement or earthquake exclusion is the exclusion found in most property insurance policies (even all-risk policies) that excludes coverage for losses due to earth movement, except for subsequent fire. The exception may apply only to an earthquake or to all forms of earth movement; the same applies to the approvals used to add feedback.
Earthquake insurance is usually excluded (along with other earth movements) from most property insurance policies, with the exception of subsequent fire. In most cases, earthquake insurance must be purchased by backing a Difference in Conditions (DIC) or All Risk policy. Generally, the coverage provided is subject to a per-incident sublimit, an annual cumulative limit, and a separate deductible.
An easement is an interest that one party has in the land of another, or the right to use the other party’s property. An easement need not be written, but may be implied or created out of necessity or prescription. Generally, the party taking advantage of being in someone else’s property assumes the responsibility of being the owner of the property. Easements are “insured contracts” unless they involve construction or demolition on or within 50 feet of a railroad.