Endorsement

A provision added to a policy, to effect a change or alteration of terms or conditions; must be signed by an executive of the company and attached to and made part of the policy to be valid.

Exclusion

A provision of part of the insurance contract limiting the scope of the coverage. The causes and conditions listed in the policy, which are not covered.

Exposure

This term may refer to the state of being subject to the possibility of loss or the extent of risk as measured by payroll, receipts, area or other standards.