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Vermögensschaden-Haftpflichtversicherung

English translation: third party financial loss insurance

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09:29 Jan 13, 2008
German to English translations [PRO]
Bus/Financial - Insurance
German term or phrase: Vermögensschaden-Haftpflichtversicherung
Überschrift einer Versicherungspolice für einen Rechtsanwalt; weiter unten heißt es: Versichertes Risiko und Beitragsberechnung:
Versichert ist die gesetzliche Haftpflicht für Vermögensschäden in der Eigenschaft als Rechtsanwalt.
Mir ist nicht 100% klar, worum es sich handelt. Schützt diese Police einen Rechtsanwalt gegen Vermögensschäden, die er gegenüber Dritten verursacht? Ist es einfach professional indemnity insurance oder mehr?
Ist unter Euch vielleicht ein Versicherungsexperte, der mir weiterhelfen könnte? Vielen Dank im Voraus für jede Hilfe!
Daniela Gieseler-Higgs
English translation:third party financial loss insurance
Explanation:
You won't find a lot of hits on this, because outside of Germany this coverage is usually bundled with other things (an example is Abbott Insurance and the "Tradesmans Insurance" bundle offered). However, searching just "third party financial loss" will show this as a usual term for the coverage.

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Note added at 6 hrs (2008-01-13 15:32:30 GMT)
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Oops. Hyphenate that "third-party"

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Note added at 7 hrs (2008-01-13 17:22:07 GMT)
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>> aber eine gesetzliche Haftpflicht für Anwälte
>> ist Malpractice insurance -- ohne dürfen sie
>> eigentlich gar nicht arbeiten (US)

Wichtig ist aber die genaue Art, wie die Deckung der jeweiligen Versicherungen aufgeteilt ist. In den USA, UK, usw. gibt es zwar Versicherungen, die Vermögensschäden auch decken, aber in Deutschland wird das als getrennte Versicherung gemacht. "Malpractice insurance" kan u.U. auch für immaterielle Schäden gelten, diese aber nicht. Es muß eine Beschädigung des Vermögens geben. Dieses Thema habe ich bis zum geht-nicht-mehr mit meinem Versicherungsberater diskutiert. In anderen Ländern ist diese Deckung meist gebündelt - genau das hat mich am Anfang verwirrt.

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Note added at 7 hrs (2008-01-13 17:23:41 GMT)
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Lästig wenn man Tippfehler nicht korrigieren kann :-(

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Note added at 10 hrs (2008-01-13 19:29:40 GMT)
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It's hard to compare these things sometimes. Elizabeth is partially right here in that malpractice insurance covers this. However, malpractice insurance in the US, like that Tradesmans Insurance from Abbott, is a collection of various coverages in a single policy. In Germany this element is covered in a policy all by itself. That surprised me quite a bit when I first got such coverage. Insurance is one of those areas where one must tread very carefully with comparisons. In any area. Don't even get me started on car insurance....
Selected response from:

KSL Berlin
Portugal
Local time: 14:17
Grading comment
Thanks, Kevin - I think in the end you were right: malpractice insurance is too unspecific and includes too many other things. Thanks for your help.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4third party financial loss insurance
KSL Berlin
4malpractice insurance/professional liability insurance
Elisabeth Moser


  

Answers


17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
malpractice insurance/professional liability insurance


Explanation:
it covers what personal and business liability doesn't cover.
In this case it would be legal malpractice insurance -- covers professional liability
http://de.wikipedia.org/wiki/Vermögensschaden

InsureTech® > Library > Article
General liability insurance provides coverage to the named insured against third party liability, property damage, and personal liability claims. ...
insure-tech.com/website/news6.htm - 17k

LPL - ABA
Legal Malpractice Insurance Resources - What You Need to Know Before You ... The committee surveyed insurers that provide legal malpractice insurance about ...
www.abanet.org/legalservices/lpl/ - 23k - Cached - Similar pages - Note this

Elisabeth Moser
United States
Local time: 09:17
Native speaker of: Native in GermanGerman
PRO pts in category: 11
Notes to answerer
Asker: Danke, Elisabeth!


Peer comments on this answer (and responses from the answerer)
neutral  KSL Berlin: Not *quite* the same thing I think. Malpractice has broader coverage; here it is specifically for financial losses suffered by third parties as a result of the insured's actions. Many of us as translators have this.
5 hrs
  -> aber eine gesetzliche Haftpflicht für Anwälte ist Malpractice insurance -- ohne dürfen sie eigentlich gar nicht arbeiten (US)
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
third party financial loss insurance


Explanation:
You won't find a lot of hits on this, because outside of Germany this coverage is usually bundled with other things (an example is Abbott Insurance and the "Tradesmans Insurance" bundle offered). However, searching just "third party financial loss" will show this as a usual term for the coverage.

--------------------------------------------------
Note added at 6 hrs (2008-01-13 15:32:30 GMT)
--------------------------------------------------

Oops. Hyphenate that "third-party"

--------------------------------------------------
Note added at 7 hrs (2008-01-13 17:22:07 GMT)
--------------------------------------------------

>> aber eine gesetzliche Haftpflicht für Anwälte
>> ist Malpractice insurance -- ohne dürfen sie
>> eigentlich gar nicht arbeiten (US)

Wichtig ist aber die genaue Art, wie die Deckung der jeweiligen Versicherungen aufgeteilt ist. In den USA, UK, usw. gibt es zwar Versicherungen, die Vermögensschäden auch decken, aber in Deutschland wird das als getrennte Versicherung gemacht. "Malpractice insurance" kan u.U. auch für immaterielle Schäden gelten, diese aber nicht. Es muß eine Beschädigung des Vermögens geben. Dieses Thema habe ich bis zum geht-nicht-mehr mit meinem Versicherungsberater diskutiert. In anderen Ländern ist diese Deckung meist gebündelt - genau das hat mich am Anfang verwirrt.

--------------------------------------------------
Note added at 7 hrs (2008-01-13 17:23:41 GMT)
--------------------------------------------------

Lästig wenn man Tippfehler nicht korrigieren kann :-(

--------------------------------------------------
Note added at 10 hrs (2008-01-13 19:29:40 GMT)
--------------------------------------------------

It's hard to compare these things sometimes. Elizabeth is partially right here in that malpractice insurance covers this. However, malpractice insurance in the US, like that Tradesmans Insurance from Abbott, is a collection of various coverages in a single policy. In Germany this element is covered in a policy all by itself. That surprised me quite a bit when I first got such coverage. Insurance is one of those areas where one must tread very carefully with comparisons. In any area. Don't even get me started on car insurance....

KSL Berlin
Portugal
Local time: 14:17
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Thanks, Kevin - I think in the end you were right: malpractice insurance is too unspecific and includes too many other things. Thanks for your help.
Notes to answerer
Asker: Thank you, Kevin, I've got the same impression, most often it seems to be part of a package...

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