Rick Debe Insurance Agency - DBI Insurance Services
(262) 363-8650
Office Hours: M - Th 8:30 - 5:30 Friday 8:30 - 3:00

We've listed all the relevant insurance terminology we could think of...and then some!  If you don't find what you're looking for, just send us an email with your question and we'll get right back to you with the answer!


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Earned Premium

The portion of premium that applies to the expired part of the policy period. Insurance premiums are payable in advance but the insurance company does not fully earn them until the policy period expires.

Earthquake Insurance

Covers a building and its contents, but includes a large percentage deductible on each. A special policy or endorsement exists because earthquakes are not covered by standard homeowners or most business policies.

Economic Loss

Total financial loss resulting from the death or disability of a wage earner, or from the destruction of property. Includes the loss of earnings, medical expenses, funeral expenses, the cost of restoring or replacing property, and legal expenses. It does not include non-economic losses, such as pain caused by an injury.

Effective Date 

The date on which insurance coverage goes into effect. (Not always the same as the date the application is completed.)

Elimination Period 

The number of days you must wait after receiving long-term care before receiving insurance benefits.

Emergency Care 

A medical emergency includes severe pain, an injury, sudden illness, or suddenly worsening illness that would cause a reasonably prudent layperson to expect that delay in treatment may cause serious danger to the person's health if he/she does not get immediate medical care.

Emergency Services 

Services delivered by an appropriately trained health care professional that are required to diagnose and stabilize an emergency condition.

Employee Dishonesty Coverage

Covers direct losses and damage to businesses resulting from the dishonest acts of employees.

Employers Liability

Part B of the workers compensation policy that provides coverage for lawsuits filed by injured employees who, under certain circumstances, can sue under common law.

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Employment Practices Liability Coverage

Liability insurance for employers that covers wrongful termination, discrimination, or sexual harassment toward the insured's employees or former employees.


Written agreement attached to a policy to add or subtract insurance coverages.

Enrollment Period 

The amount of time an employee has to sign up for a contributory health plan.

Environmental Impairment Liability Coverage

A form of insurance designed to cover losses and liabilities arising from damage to property caused by pollution.


In investments, the ownership interest of shareholders. In a corporation, stocks as opposed to bonds.

Equity Indexed Annuity

Non-traditional fixed annuity. The specified rate of interest guarantees a fixed minimum rate of interest like traditional fixed annuities. They are sold by licensed insurance agents and regulated by state insurance departments. 

ERISA (Employee Retirement Income Security Act of 1974)

The federal law that mandates reporting and disclosure requirements for self-insured health plans. It also prohibits states from regulating insurance plans offered by employers to their employees if the employer is self-insured.

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Error and Omissions Coverage

A professional liability policy covering the policyholder for negligent acts and omissions that may harm his or her clients.

Escrow Account

Funds that a lender collects to pay monthly premiums in mortgage and homeowners insurance, and sometimes to pay property taxes.

Excess Charge

The difference between a doctor's or other health care provider's actual charge and the Medicare-approved payment amount.

Excess and Surplus Lines

Property/casualty coverage that isn't available from insurers licensed by the state (called admitted insurers) and must be purchased from a non-admitted carrier.


Excess of Loss Reinsurance


A contract between an insurer and a reinsurer, whereby the insurer agrees to pay a specified portion of a claim and the reinsurer to pay all or a part of the claim above that amount.

Excess of Loss Reinsurance

A contract between an insurer and a reinsurer, whereby the insurer agrees to pay a specified portion of a claim and the reinsurer to pay all or a part of the claim above that amount.

Exclusions or Limitations

Specific situations, conditions, or circumstances that are listed in the insurance policy as not being covered.

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Exclusive Agent

A captive agent, or a person who represents one insurance company or an affiliated group of companies and is restricted by agreement from submitting business to any other company unless it is first rejected by the agent's company.

Exclusive Remedy

Part of the social contract that forms the basis for workers compensation statutes under which employers are responsible for work-related injury and disease, regardless of whether is was the employee's fault and in return the injured employee gives up the right to sue when the employer's negligence causes the harm.


Expense Ratio


Percentage of each premium dollar that goes to insurers' expenses including overhead, marketing, and commissions.

Experience Rating

The process of using a group's own premium and claims experience to calculate premium rates. If the claims experience for the previous year was favorable, the insurer considers reducing the premium rates for the coming year. If the experience was unfavorable, the insurer attempts to discover the reason and may propose higher premiums for the next year.

Explanation of Medicare Benefits (EOMB)

A notice that is sent to you after the doctor files a claim for Part B services that explains what the provider billed, the Medicare-approved amount, how much Medicare paid, and the amount you must pay.

Extended Coverage

An endorsement added to an insurance policy, or clause within a policy, that provides additional coverage for risks other than those in a basic policy.

Extended Replacement Cost Coverage

Pays a certain amount above the policy limit to replace a damaged home, generally 120 percent or 125 percent. Similar to a guaranteed replacement cost policy, which has no percentage limits. Guaranteed and extended replacement cost policies are designed to protect the policyholder after a major disaster when the high demand for building contractors and materials can push up the normal cost of reconstruction.

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