Glossary

Expected morbidity refers to the expected instance of sickness or injury for a given group over a given period.

Expected mortality refers to the expected instance of death for a given group over a given period assumed in setting life insurance rates.

This is a general and auto liability (also hospital errors and omissions (E&O)) policy exclusion for injury or damage that is expected or intended from the standpoint of the insured.

Expected reinsurer deficit (ERD) is a method of testing reinsurance contracts to determine whether there is actual risk transfer.

Expediting expenses are costs to complete repairs to put the insured back in business as rapidly as possible, even if it is only a temporary arrangement.

Expediting expense coverage is coverage under a property or equipment breakdown policy for expenses of temporary repairs and costs incurred to speed up the permanent repair or replacement of covered property or equipment.

Expense refers to the cost of operating the insurance business exclusive of losses or claims.

An expense allowance is the compensation paid to life insurance agents over and above commission to reimburse them for certain expense items incurred in doing business.

Expense constant is a fixed, flat expense charge applied to every workers compensation policy in states using advisory rates.

The expense load is an amount the insurer adds to an insurance premium to cover business expenses and the contingencies, including cost of capital, shown mathematically as follows.