E - GLOSSARY - Earned Premium: The portion of an insurance premium that applies to the expired portion of the policy term. - Effective Date: The date on which an insurance policy becomes active and coverage begins. - Endorsement: A written document attached to an insurance policy that modifies the terms of the original policy. - Exclusion: Specific conditions or circumstances that are not covered by an insurance policy. - Excess: The amount that an insured must pay out-of-pocket before the insurer will pay any expenses. - Ex Gratia Payment: A payment made by an insurer to a policyholder that is not required by the terms of the insurance policy. - Experience Rating: A method of determining the premium for a policyholder based on the history of claims made by the insured. - Exposure: The state of being subject to a potential loss, or the extent of risk facing an insurer. - Extended Coverage: Additional protection that can be added to a standard insurance policy to cover specific risks. - Expiration Date: The date on which an insurance policy coverage ends.