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ansvars- og garantiforsikring


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16:59 Apr 30, 2010
This question was closed without grading. Reason: Other

Norwegian to English translations [PRO]
Bus/Financial - Insurance
Norwegian term or phrase: ansvars- og garantiforsikring
"ansvarsforsikring" = third party liability insurance
"garantiforsikring" = ?
Brigid McCauley
Local time: 12:24


Summary of answers provided
5(third party) liability insurance and surety bond(s)
Charles Ek
4(third-party) liability and indemnity insurance
Tom Thumb
3 -1Errors and Omissions InsuranceJennifer Andersen


Discussion entries: 3





  

Answers


30 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
Errors and Omissions Insurance


Explanation:
For professional liability issues, there is something called Errors and Omissions Insurance. I've also see it referred to as Professional Liability Insurance. It is likely that exact terms will depend on the field - IT, business consultant, etc. You might find what you're looking for by searching insurance websites. Hope this helps!


    Reference: http://www.techinsurance.com/
Jennifer Andersen
Local time: 06:24
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
disagree  Charles Ek: E&O liability insurance is a subset of liability insurance. "garantiforsikring" has nothing to do with professional errors and omissions, but rather contractor performance and/or payment for materials, labor, taxes, etc.
3 hrs
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
(third-party) liability and indemnity insurance


Explanation:
Guarantee in Romance and German lingos is often not a true guarantor-creditor guarantee, but insurance cover or a guarantor-debtor indemnity.

As Jennifer A. implies, the context is all-important and might edven move into the realms of occupiers' or product liability.




Example sentence(s):
  • Great value professional indemnity insurance,liability insurance for 100+ freelance trades.Instant freelance professional insurance cover.

    Reference: http://www.proz.com/kudoz/norwegian_to_english/bus_financial...
    Reference: http://www.coulsonpritchard.com/
Tom Thumb
Local time: 12:24
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
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3 hrs   confidence: Answerer confidence 5/5
(third party) liability insurance and surety bond(s)


Explanation:
You apparently are dealing with the typical requirements for a building contractor or someone in a similar situation. A building owner wants the job done on time, without being tagged with liability claims arising from the contractor's operations and completed work. Nor does the owner want an unfinished project, or bills from subcontractors who haven't been paid. So the owner requires liability insurance and one or more surety bonds to be sure the bills are paid and the job is done on time. If the contractor fails to perform, the owner can use the bond proceeds to pay another contractor or to pay the materials and labor bills.
The first example sentence is from Vesta itself at the first link. The second example is from the second link. See http://www.marsh.co.uk/service/surety/index.php for a U.K. example.

Example sentence(s):
  • Vesta Garanti is the largest provider of surety bonds and guarantees in the Nordic area.
  • A surety bond is not an insurance policy. A surety bond is a guarantee, in which the surety guarantees that the contractor, called the “principal” in the bond, will perform the “obligation” stated in the bond.

    Reference: http://www.vestagaranti.se/files/0909_TO_WHOM_VG_UK.pdf
    Reference: http://www.attny.com/gci32djd.html
Charles Ek
United States
Local time: 06:24
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
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