Insurance Glossary

Showing 12 of 36 matching terms

Terms beginning with E

Exclusive provider organization

Health insurance

A health plan type that generally covers care only from its network except for emergencies.

Also called: EPO

Expense ratio

General insurance

The percentage of premium used for underwriting and administrative expenses during a stated period.

Experience period

General insurance

The historical period of losses and exposures used to calculate an experience rating or modification.

Expiration date

General insurance

The date a policy’s current coverage period is scheduled to end unless it is renewed or changed.

Explanation of benefits

Health insurance

A statement explaining how a health plan processed a claim; it is not a bill.

Also called: EOB

Explanation of benefits appeal

Health insurance

A request to review a health-plan payment or coverage decision shown on an explanation of benefits.

Explanation of payment

Health insurance

A notice explaining how a health claim was processed and what amount was paid or assigned to the member.

Exposure base

General insurance

The unit used to measure risk for rating, such as payroll, sales, vehicle count, area, or number of employees.

Extended replacement cost

Home insurance

A home coverage feature that may provide an amount above the dwelling limit to rebuild after a covered loss, as the policy allows.

External review

Health insurance

An independent review of an eligible health plan denial after available internal appeal steps are completed.

Also called: independent medical review

Extra-contractual damages

Claims

Damages sought beyond policy benefits, often alleging wrongful claim handling or another legal wrong by an insurer.

Extra expense coverage

Business insurance

Coverage for necessary additional costs to continue operations or reduce a covered business income loss.