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ENTERPRISE RISK MANAGEMENT - An approach for indentifying, controlling and financing of all sources of risk within an organization in a corresponding manner; an effort to provide insurance solutions to business risks not traditionally insured under property and casualty policies.

EXCESS INSURANCE - Coverage provided above the major policy’s limit or the insured’s self-insured retention (SIR); typically provides coverage similar to the primary layer.

EXCESS POINT - The dollar addition point for the reinsurer.

EXCLUSIONS - Particular perils and exposures indentified as not being covered under a specific policy.