22:16 Feb 4 

OK Kevin, thanks! One doubt still niggles me, which is, it seems more logical to consider losses as future costs rather than claims, because aren't the losses what the company expects to pay out on claims?

21:55 Feb 4 

OK, given your answers I am certain that I would use "expected claims" or "expected claim amounts" in this context although "expected losses" is also acceptable.
My reasoning: the wording is used to express a term in the calculation of another value. The result of the calculation could result in an specific "loss" but the terms are values that are not losses in themselves.

In insurance texts I tend to use "loss" for a specific amount of money that the insurance company will lose/spend for a specific cause (declared loss, etc.) and "claim" for anything relating to a more generic level.

PS: The list of terms you pasted is very similar to my personal insurance glossary

20:32 Feb 4 

as per the context, being part of the future costs.

To answer your questions:
who wrote it? It was written by an insurance company.
who did they write it for? It's for internal use.
why did they write it? Other than to confuse me, I don't know :)
Lastly, the phrase appears in the given context and then again here:

Para cada cobertura k se obtendrá de la cotización teórica el número de siniestros esperados n como la suma de las tasas BE de todos los participantes redondeada a cero decimales:

n=round up (∑▒〖〖BEqx〗_k,0)〗

20:23 Feb 4 

Rich,
Please let us know where this phrase will appear: who wrote it? who did they write it for? why did they write it? Depending on the answers to these questions you should be able to work out the correct answer for the context.
Cheers.

19:10 Feb 4 

Even if I am still confused, everyone’s input is much appreciated, and considering that “siniestro”, in its many guises, appears a few hundred times in this document, if an underwriter, broker or adjuster happens by, please HELP!

19:09 Feb 4 

I thought I was confused before :) and you probably won’t have time to check all this out, but this is a summary of my continued confusion %-( :

The clearest examples of how “siniestro” is used for both “claim” and “loss” is shown with SLG and Claudia’s reference, http://tiny.cc/qq1dl
• siniestro (loss; claim)
• siniestro pagado (claim paid)
• siniestros al contado (cash loss)
• siniestro producido (declared loss)
• siniestro total (total loss)
• siniestro en tramitación (outstanding claim)
• siniestro parcial (partial loss)
• siniestro declarado (declared loss)
• siniestro pendiente (outstanding claim)
• siniestro liquidado (claim settled)
• siniestralidad esperada (expected loss)


Jane’s reference for “expected claims” is also sound although provides no translation http://tiny.cc/gpvdp

Jenni’s reference to “Loss ratio” seems to be Siniestralidad http://www.businessdictionary.com/definition/expected-claims...

Neil agrees with “expected claims” and mentions that “siniestro total” (total LOSS) means “the car is a write-off.

Emiliano’s reference describing “loss forecasting” as measuring “expected losses” is sound http://tiny.cc/yan74

18:07 Feb 4 

I think more than one of the suggested terms could be used depending on context. The key to choosing the correct term is the type of document where the term has been used; my guess is that it has been written in a document for internal use by the insurance company, possibly for actuarial purposes.
If this is the case, I think that it is talking about a cost or expense and not a loss. It says that the costs mentioned are equal to expected claims plus acquirement and administration costs, the capital cost and another amount based on the stated criteria. I would consider the sum of these values to be an entry in the debit columns of the accounts; they wouldn’t by themselves result in a loss. Therefore, if the context is correct, I would translate it as “expected claims”.
If my guess as to the document type is incorrect I reserve the right to change my mind!

10:00 Feb 4 

Is it possible that claim is more commonly used in the UK for siniestro in this context and loss more in the US? If there are any experts out there, I too would appreciate clarification on this!

09:36 Feb 4 

Have a look at http://en.wikipedia.org/wiki/Loss_ratio. I think that it may be the difference between profitable claim payouts and payouts that have cost the company money, but I'm not an expert. This article talks about the loss ratios. I believe that expected claims is what is being mentioned here. Diccionario técnico inglés español económico-financiero-actuarial: - Resultado de la Búsqueda de libros de Google
books.google.es/books?isbn=8497450256...
Josefina Martínez Barbeito, Julio G. Villalón - 2003 - Business & Economics - 862 páginas
Expected claims ratio Expandable Extensible. Expanded ... Expectation of life loss Probabilidad de fallecimiento. Expectation of ... Expected claim Siniestro esperado.

09:32 Feb 4 

It's 03:30 here so I'm off for some kip :)

09:19 Feb 4 

Al tratarse el tema de los gastos de "administración" entiendo que se refiere a los siniestros que se produzcan con independencia del curso que se dé a los mismos.

09:00 Feb 4 

The claim payment distributions, expected losses, expected claim payments, and standard
deviations for each policy are:
http://www.soa.org/files/pdf/P-21-05.pdf

Actuarially Fair: The price for insurance which exactly represents the expected losses.
http://www.ruralandgeneral.com.au/insurance-terms-e.php

technique of risk management (better known as retention or self insurance ) under which an individual or business firm assumes expected losses that are not catastrophic,

Source: http://www.allbusiness.com/glossaries/assumption-risk/494850...

http://tinyurl.com/7hbcugf
http://tinyurl.com/6rlccxu

08:41 Feb 4 

El presente documento establece las bases regulatorias y técnicas que regirán las cotizaciones de reaseguro en los mercados de xxx vida. En este documento se establecen primeramente las reglas generales como principios y estándares que regirán los procedimientos de cotización/suscripción de riesgos.

08:33 Feb 4 

If we are talking about insurance, then we could use the word "claims"