• Teacher Liability Insurance (ELL) is designed to cover a wide range of non-personal injury/non-property liability claims against administrators, staff and employees of both schools and colleges. ELL, also known as School Board Liability Insurance, is a hybrid of traditional Principals and Officers (D&O) and Error and Omission (E&O) insurance. Typical claims covered by ELLs include wrongful termination, wrongful termination, failure to provide tenure, and negligent counseling.

  • The EEO-1 report is a survey form that requires employers to categorize employees along the five main racial/ethnic lines used by the Equal Employment Opportunity Commission (EEOC). Under Title VII of the Civil Rights Act of 1964 and as amended by the Equal Employment Opportunity Act of 1972, this requirement is required by employers with 100 or more employees and by employers who are government contractors with more than 50 employees. EEOC designations on the form, which must be filed by September 30 of each year, include: White (non-Hispanic), Black (non-Hispanic), Hispanic, Asian or Pacific Islander, and American Indian or Alaska Native.

  • Performance insurance provides coverage in case the project does not meet the technical performance level required by the contract. The policy provides the funds needed to pay the costs of servicing the debt and can be modified to reimburse the insured for the capital expended so that the project can be brought to the expected level of performance. This type of coverage is often sought for high tech projects such as cogeneration facilities.

  • The election is an opportunity for an offshore captive to pay U.S. income tax directly, rather than shifting the tax burden onto its shareholders. There are two types: “C” and “D” choices.

  • The election period is the period during which an insured under an insurance policy can purchase an extended coverage period (ERP) after the policy expires or is canceled. Election windows are usually at least 10 days, and in some cases up to 90 days.

  • Selective benefits are when disability income policies allow the insured to choose a certain amount for certain minor injuries instead of receiving disability benefits. See the policy schedule for additional available benefits.

  • The electrical damage or injury exclusion is an exclusion found in most property insurance policies that excludes coverage for damage to electrical appliances caused by artificially generated currents, excluding subsequent fire or explosion. Coverage for this risk is available under the Boiler and Machinery (BM) policy.