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Versehensklausel

English translation: errors and omissions clause

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Versehensklausel
English translation:errors and omissions clause
Entered by: Alexander Schleber
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17:08 Jul 20, 2005
German to English translations [PRO]
Bus/Financial - Insurance
German term or phrase: Versehensklausel
The heading for a clause that is part of an insurance contract.

"Der Versicherungsschutz bezieht sich auch auf versehentlich nicht gemeldete, nach Beginn der Versicherung eingetretene Risiken ...."

References if possible, please.

TIA
Alexander Schleber
Belgium
Local time: 16:16
errors and omissions clause
Explanation:
http://www.gamma.co.nz/view_doc.php?view_doc=3

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Note added at 3 mins (2005-07-20 17:12:14 GMT)
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better reference:
http://www.findalink.net/reinsurance/def-e.php

\"Errors and Omissions Clause
A provision in reinsurance agreements which is intended to neutralize any change in liability or benefits as a result of an inadvertent error by either party. To the extent possible the parties are placed in the position they would have held if the error had not occurred. Also known as Oversight. \"
Selected response from:

Friderike Butler
United States
Local time: 10:16
Grading comment
Thanks to all for the learned input.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1"oversight clause"Allan Wier
5omissions clausesilfilla
4 +1errors and omissions clause
Friderike Butler


  

Answers


2 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
errors and omissions clause


Explanation:
http://www.gamma.co.nz/view_doc.php?view_doc=3

--------------------------------------------------
Note added at 3 mins (2005-07-20 17:12:14 GMT)
--------------------------------------------------

better reference:
http://www.findalink.net/reinsurance/def-e.php

\"Errors and Omissions Clause
A provision in reinsurance agreements which is intended to neutralize any change in liability or benefits as a result of an inadvertent error by either party. To the extent possible the parties are placed in the position they would have held if the error had not occurred. Also known as Oversight. \"

Friderike Butler
United States
Local time: 10:16
Native speaker of: German
PRO pts in category: 12
Grading comment
Thanks to all for the learned input.

Peer comments on this answer (and responses from the answerer)
agree  Teresa Reinhardt
1 hr
  -> thanks, Teresa
Login to enter a peer comment (or grade)

4 mins   confidence: Answerer confidence 5/5
omissions clause


Explanation:
Omissions clause

Provision of a treaty reinsurance contract stat­ing that if an insurer fails to report a risk that would normally be cov­ered, the reinsurer is still liable for the risk.
http://www.realestateagent.com/glossary/real-estate-glossary...

http://www.google.com/search?as_q=&num=10&hl=en&c2coff=1&btn...

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Note added at 9 mins (2005-07-20 17:18:19 GMT)
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According to my insurance dictionary, an \"errors and omissions insurance/clause\" refers to \"protection for negligent acts and/or omissions resulting in bodily injury ...\" whereas *ommisions clause* is defined as a provision \"stating that if an insurer fails to report a risk that would normally be covered, the re(insurer) is still liable for the risk.\"

silfilla
Local time: 10:16
PRO pts in category: 33
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52 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
"oversight clause"


Explanation:
1) Translation of "Versehensklausel" listed in the "Versicherungswörterbuch" published by Professor Dr. Heinz Leo Müller-Lutz, Munich

2) 80 plus hits on www.google.com


    Reference: http://www.google.com
Allan Wier
United States
Local time: 10:16
Specializes in field
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  Teresa Reinhardt
35 mins
  -> Thank you Teresa

neutral  silfilla: of those 80 googles, only about 30 apply to insurance, not to mention that many are Russian sites or apply to legislation
2 hrs
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