a efecto de reserva

English translation: For reserve purposes / For purposes of the reserve

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:a efecto de reserva
English translation:For reserve purposes / For purposes of the reserve
Entered by: Paula Sepúlveda (X)

14:03 Sep 7, 2017
Spanish to English translations [PRO]
Law/Patents - Law (general) / legal opinion
Spanish term or phrase: a efecto de reserva
The phrase appears in a legal opinion regarding an accident and the indemnization the familly could receive:

"A efecto de reserva, la indemnización que la familia podría reclamar se estima en XXXXXXXX€"

Thanks
Paula Sepúlveda (X)
Spain
Local time: 07:32
For reserve purposes / For purposes of the reserve
Explanation:
When an insurer or other party with liability receives a claim, they would normally have to estimate the amount they are required to set aside as a reserve to pay that claim.

What is a 'Claims Reserve'
A claims reserve is the money that is earmarked for the eventual claim payment. The claims reserve funds are set aside for the future payment of incurred claims that have not been settled and thus represent a balance sheet liability.

BREAKING DOWN 'Claims Reserve'
Claims reserves are future obligations of an insurance company. They are classified as liabilities on the insurance company's accounting statements since they must be settled at a future date. The monetary amount of the claims reserve can be calculated subjectively (using the claims handler's judgment) or statistically (by evaluating past losses to project future losses).

http://www.investopedia.com/terms/c/claims-reserve.asp#ixzz4...


An actuarial reserve is a liability equal to the actuarial present value of the future cash flows of a contingent event. In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the total liability of the insurer is the sum of the actuarial reserves for every individual policy. Regulated insurers are required to keep offsetting assets to pay off this future liability.
https://en.wikipedia.org/wiki/Actuarial_reserves
Selected response from:

Robert Carter
Mexico
Local time: 00:32
Grading comment
Sounds great, thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +1For reserve purposes / For purposes of the reserve
Robert Carter
4to err on the conservative side
Francois Boye
3Provisionally,
Alex Ossa


  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
a efecto de reserva,
Provisionally,


Explanation:
Ooh this one is trickier than I initially thought! According to RAE, there are a couple of possibilities, so in the end you're going to have to go with your gut depending on the wider context of the text. However, I understand the counsellors to be referring to an eventuality to be prepared for, so if you look under the uses section, de reserva point 1, the intent to be prepared to pay (in this specific context) a certain amount seems to be the meaning of this phrase.

One synonym that fits well to en reserva in this context would be in readiness. However in readiness sounds strange and in pro of readiness/preparedness sounds clumsy to me.... I wasn't able to get my head around a more elegant phrase with these words, but perhaps you can do better!

As such, I went with a proxy that conveys the same meaning... hope some of this helps!





    Reference: http://dle.rae.es/?id=W9AlOxX
Alex Ossa
Chile
Local time: 03:32
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 40
Notes to answerer
Asker: Thanks! It could fit, but in a different context.

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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
For reserve purposes / For purposes of the reserve


Explanation:
When an insurer or other party with liability receives a claim, they would normally have to estimate the amount they are required to set aside as a reserve to pay that claim.

What is a 'Claims Reserve'
A claims reserve is the money that is earmarked for the eventual claim payment. The claims reserve funds are set aside for the future payment of incurred claims that have not been settled and thus represent a balance sheet liability.

BREAKING DOWN 'Claims Reserve'
Claims reserves are future obligations of an insurance company. They are classified as liabilities on the insurance company's accounting statements since they must be settled at a future date. The monetary amount of the claims reserve can be calculated subjectively (using the claims handler's judgment) or statistically (by evaluating past losses to project future losses).

http://www.investopedia.com/terms/c/claims-reserve.asp#ixzz4...


An actuarial reserve is a liability equal to the actuarial present value of the future cash flows of a contingent event. In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the total liability of the insurer is the sum of the actuarial reserves for every individual policy. Regulated insurers are required to keep offsetting assets to pay off this future liability.
https://en.wikipedia.org/wiki/Actuarial_reserves

Robert Carter
Mexico
Local time: 00:32
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1368
Grading comment
Sounds great, thanks!

Peer comments on this answer (and responses from the answerer)
agree  veronicaes
5 hrs
  -> Thanks, Veronica.
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8 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
to err on the conservative side


Explanation:
A plain English translation.

Francois Boye
United States
Local time: 02:32
Native speaker of: Native in FrenchFrench
PRO pts in category: 167
Notes to answerer
Asker: Thanks, but definitely would need some support.


Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: How is that a translation? Can you post references or reasoning to support your suggestion?
12 hrs
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