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compensación de capitales en una situación de riesgo

English translation: compensation/netting/offset of insured principal under risk

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase: compensación de capitales en una situación de riesgo
English translation:compensation/netting/offset of insured principal under risk
Entered by: MikeGarcia

20:01 Dec 10, 2007
Spanish to English translations [PRO]
Bus/Financial - Insurance / Insurance Policy
Spanish term or phrase: compensación de capitales en una situación de riesgo
Hello,
Any ideas on the above phrase from an insurance policy? This is the description of the clause: Se hace constar expresamente que, en caso de siniestro amparado por las garantías de la presente póliza si el capital asegurado en la situación del riesgo afectada para los conceptos de "Edificios y Maquinaria, Mobiliario e Instalaciones" tomado separadamente, fuese inferior al valor de cualquiera de ellos, y en cambio en conjunto fuere igual o superior, no se tomará cada concepto separadamente para el cálculo de la indemnización, sino el capital total asegurado por ambos. Thanks in advance.
AFerroni
Spain
Local time: 15:44
compensation/netting/offset of insured principal under risk
Explanation:
My version. Creo que así responde mejor al contexto de la claúsula.

Ver el Alcaraz Varó Hughes Financiero, pág. 837, "compensación 1,compensación 2" y pág. 838, "compensación/liquidación por saldos netos".-

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Note added at 6 days (2007-12-17 09:04:06 GMT) Post-grading
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"Principal" here is equivalent to "sum" or "capital". I have no place left to answer my colleague's disagrees, so I'll stop the arguments and leave it to common sense, the most uncommon of senses...as they say.
For the record, I've seen zillions of insurance policies where the term "insured capital" or "insured principal" is used, depending on the policy type.- Honni soit qui mal y pense.-
Selected response from:

MikeGarcia
Spain
Local time: 15:44
Grading comment
Thanks again.
3 KudoZ points were awarded for this answer



Summary of answers provided
5 +1Transfer of sums insured in a risk location
Neil Crockford
5imdemnified asset losses under risk
bigedsenior
4 -1compensation/netting/offset of insured principal under risk
MikeGarcia


  

Answers


59 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
Transfer of sums insured in a risk location


Explanation:
This is a concession on the average clause. If there is under-insurance on one or other of the buildings, plant and machinery or contents items for a particular location, average will not be applied if the overall sum insured for the location is adequate

Neil Crockford
Local time: 14:44
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 192
Notes to answerer
Asker: Thank you.


Peer comments on this answer (and responses from the answerer)
agree  cmwilliams (X)
2 hrs
  -> Thanks
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1 hr   confidence: Answerer confidence 5/5
imdemnified asset losses under risk


Explanation:
That is what an insurance policy does. It indemnifies insured asset losses, in this case.

bigedsenior
Local time: 06:44
Works in field
Native speaker of: English
PRO pts in category: 117
Notes to answerer
Asker: Thank you.

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17 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
compensation/netting/offset of insured principal under risk


Explanation:
My version. Creo que así responde mejor al contexto de la claúsula.

Ver el Alcaraz Varó Hughes Financiero, pág. 837, "compensación 1,compensación 2" y pág. 838, "compensación/liquidación por saldos netos".-

--------------------------------------------------
Note added at 6 days (2007-12-17 09:04:06 GMT) Post-grading
--------------------------------------------------

"Principal" here is equivalent to "sum" or "capital". I have no place left to answer my colleague's disagrees, so I'll stop the arguments and leave it to common sense, the most uncommon of senses...as they say.
For the record, I've seen zillions of insurance policies where the term "insured capital" or "insured principal" is used, depending on the policy type.- Honni soit qui mal y pense.-

MikeGarcia
Spain
Local time: 15:44
Works in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 83
Grading comment
Thanks again.
Notes to answerer
Asker: Thank you.


Peer comments on this answer (and responses from the answerer)
disagree  cmwilliams (X): capitales in this context is referring to capital asegurado, which is "sum insured". This is definitely concerning the average clause as explained by Neil.//'sum insured' is the more usual term used in an insurance context.
5 days
  -> Be advised that the word "principal·as used by me means the "principal amount", i.e. the insured sum, that is, "capital asegurado". I am sure you know that "capital" and "principal" are equivalents in the financial terminology. See the AVH Fin.,page 538.-
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