volmacht
English translation: underwriting authority
| 15:57 Apr 23, 2006 |
| Dutch to English translations [PRO] Bus/Financial - Insurance | |||||||
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|  Selected response from: CI95 Local time: 09:08 | ||||||
Grading comment
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| Summary of answers provided | ||||
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| 4 +3 | underwriting authority |
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| 5 +1 | authorisation (power of attorney) |
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| 4 +1 | authorisation |
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Answers
13 mins confidence: 
peer agreement (net): +1
peer agreement (net): +1authorisation Explanation: Volmacht = the authorisation granted to the authorised agent (gevollmachtigd agent) by an underwriter. See A de Keizer's Financieel Economisch Lexicon, which is very reliable on insurance. |
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13 mins confidence: peer agreement (net): +1
peer agreement (net): +1authorisation (power of attorney) Explanation: "volmachten" are authorised agents who can make policy quotations without referring back to the insurer, because of their authorisation (literally = power of attorney) -------------------------------------------------- Note added at 16 mins (2006-04-23 16:14:02 GMT) -------------------------------------------------- They are also authorised to collect premiums See ref: join through an authorised agent- australia health insurance ...Authorised agents allow you to pay your Medibank Private premium through them. ... About Our Travel Insurance · Choosing a Plan For Your Trip ... www.medibank.com.au/join/overseas/authagent.asp |
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11 mins confidence: peer agreement (net): +3
peer agreement (net): +3underwriting authority Explanation: -------------------------------------------------- Note added at 19 mins (2006-04-23 16:16:46 GMT) -------------------------------------------------- gevolmachtigd verzekeringsagent = underwriting agent source: van Amerongen financial terminology -------------------------------------------------- Note added at 2 hrs (2006-04-23 18:12:44 GMT) -------------------------------------------------- You might want to have a look into the term 'binding authority/binding authorities/binding authority agreements' because perhaps that would work in some parts of the text. Sorry but don't know enough about it myself. Here's one ref: BINDING AUTHORITY An agreement for insurance or reinsurance whereby an Underwriter delegates underwriting authority to another party, usually a broker or a managing general agent. http://www.re-eval.co.uk/glossaryb.htm -------------------------------------------------- Note added at 4 hrs (2006-04-23 20:24:19 GMT) -------------------------------------------------- Hi Dave, I agree with your first statement below but I'm not at all sure that 'volmacht' is necessarily limited to the tasks you mention in your answer. For instance: Volledige volmacht Behalve makelaars in assurantiën zijn wij ook werkzaam als gevolmachtigd assuradeur voor een aantal vooraanstaande verzekeringsmaatschappijen. Dit brengt veel voordelen met zich mee. Zo kunnen we zelf producten ontwikkelen en zijn we bevoegd polissen op te maken en schadeclaims af te wikkelen. Dit maakt ons slagvaardig. En dat is erg belangrijk op momenten waarop directe actie noodzakelijk is http://www.kettlitz.nl/Default.aspx?tabid=80 |
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