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Portuguese to English translations [PRO] Bus/Financial - Insurance / D&O insurance
Portuguese term or phrase:indenização securitária
Hi, this keeps on appearing throughout the policy and I can't see that it stands for anything but the standard "compensation", what's with the "securitária" bit? I can't find anything particularly enlightening on the Web, either. Thanks in advance for a prompt response, need to deliver tomorrow.
Thank you very much, it was the indemnity element I was lacking! I ended up saying "indemnity compensation" because even the PT expression is not very current. Your answer came closest to what I needed. 3 KudoZ points were awarded for this answer
Floriana Leary United States Local time: 02:22 Works in field Native speaker of: English, Portuguese PRO pts in category: 15
Thank you very much, it was the indemnity element I was lacking! I ended up saying "indemnity compensation" because even the PT expression is not very current. Your answer came closest to what I needed.
See also: prize indemnity insurance
Indemnity insurance compensates the beneficiaries of the policies for their actual economic losses, up to the limiting amount of the insurance policy. It generally requires the insured to prove the amount of its loss before it can recover. Recovery is limited to the amount of the provable loss even if the face amount of the policy is higher. This is in contrast to, for example, life insurance, where the amount of the beneficiary's economic loss is irrelevant. The death of the person whose life is insured for reasons not excluded from the policy obligate the insurer to pay the entire policy amount to the beneficiary.
What Does Indemnity Insurance Mean?
An insurance policy that aims to protect business owners and employees when they are found to be at fault for a specific event such as misjudgment. Typical examples of indemnity insurance include professional insurance policies such as malpractice insurance and errors and omissions insurance, which indemnifies the professional against claims made in the workplace.
Health indemnity insurance is sometimes used when a person is in between health plans, and will cover some (but not all) expenses.
Investopedia explains Indemnity Insurance
Errors and omissions insurance is commonly sought (and often required) in financial industries, while deferred compensation indemnity insurance has become popular as a way for company executives to protect future money owed to them, even if the company has filed for bankruptcy.