From DDO wiki
Effect: This effect makes the item bound to character on equip and grants the following enchantment:
- Inherent Elemental Resistance - 10: This item provides a +10 insight bonus to your Acid, Cold, Fire, and Electrical resistances.
- Elemental Absorption 10 %: This effect absorbs 10 % of all acid, cold, fire, and electrical damage you would have taken, after all defenses have been penetrated.
See also: Elemental