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1 Excedente, 2 Excedente

English translation: First surplus, Second surplus (reinsurance treaties)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase: 1 Excedente, 2 Excedente
English translation:First surplus, Second surplus (reinsurance treaties)
Entered by: xxxcmwilliams
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19:23 Mar 13, 2008
Spanish to English translations [PRO]
Insurance
Spanish term or phrase: 1 Excedente, 2 Excedente
could it be appendix?
It is the subject of a letter but the letter refers to a contract.
bbt-ruth
United States
Local time: 12:32
First surplus, Second surplus (reinsurance)
Explanation:
From past experience, this is probably referring to first and second surplus reinsurance treaties (contracts).

SURPLUS TREATY

A form of PROPORTIONAL reinsurance treaty whereby the REINSURED CEDES and the REINSURER accepts that share of the risk which exceeds the reinsured’s retention (see LINE (2)). The agreed treaty limit will usually be expressed as a multiple of that retention. A reinsured may place several surplus treaties (First Surplus, Second Surplus etc.)
http://www.compre-group.com/glossarys.htm

CONTRATO DE REASEGURO (REINSURANCE TREATY) ... REASEGURO EN EXCEDENTE (SURPLUS REINSURANCE) ... REASEGURO OBLIGATORIO (TREATY REINSURANCE) ...
www.americanare.com/lr.htm

First Surplus Treaty
A term exclusive to pro rata reinsurance treaties which defines the amount of each cession as the amount of gross (policy) liability which exceeds, or is "surplus" to, an agreed net liability retention, up to the limit of (reinsurance) liability. Often a maximum net retention is specified in the treaty, with the primary company having the option to choose a lesser retention on individual risks. The amount of first surplus reinsurance provided will be limited to a fixed multiple of the selected retention in each case. Larger policy surpluses are termed "second," "third," and so on, each being the amount of reinsurance afforded once the prior surplus reinsurance capacity plus the true net retention have been exceeded. See Surplus Share Reinsurance.
http://www.guycarp.com/portal/extranet/utility/glossary_f.ht...
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xxxcmwilliams
United Kingdom
Local time: 17:32
Grading comment
Thank you
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3First surplus, Second surplus (reinsurance)xxxcmwilliams
4Excess Insurance [Policy] 1, Excess Insurance [Policy] 2
ClayWWatson


Discussion entries: 1





  

Answers


12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Excess Insurance [Policy] 1, Excess Insurance [Policy] 2


Explanation:
It's hard to decipher the meaning without more context, but in the realm of insurance, it may be that this refers to excess coverage in conjunction with some form of primary coverage, with the former triggered once the latter is exhausted. See web references below.



    Reference: http://www.haylor.com/inswords/eee/e049.htm
    Reference: http://insurance.cch.com/Rupps/excess-liability-insurance.ht...
ClayWWatson
United States
Local time: 11:32
Works in field
Native speaker of: Native in EnglishEnglish
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
First surplus, Second surplus (reinsurance)


Explanation:
From past experience, this is probably referring to first and second surplus reinsurance treaties (contracts).

SURPLUS TREATY

A form of PROPORTIONAL reinsurance treaty whereby the REINSURED CEDES and the REINSURER accepts that share of the risk which exceeds the reinsured’s retention (see LINE (2)). The agreed treaty limit will usually be expressed as a multiple of that retention. A reinsured may place several surplus treaties (First Surplus, Second Surplus etc.)
http://www.compre-group.com/glossarys.htm

CONTRATO DE REASEGURO (REINSURANCE TREATY) ... REASEGURO EN EXCEDENTE (SURPLUS REINSURANCE) ... REASEGURO OBLIGATORIO (TREATY REINSURANCE) ...
www.americanare.com/lr.htm

First Surplus Treaty
A term exclusive to pro rata reinsurance treaties which defines the amount of each cession as the amount of gross (policy) liability which exceeds, or is "surplus" to, an agreed net liability retention, up to the limit of (reinsurance) liability. Often a maximum net retention is specified in the treaty, with the primary company having the option to choose a lesser retention on individual risks. The amount of first surplus reinsurance provided will be limited to a fixed multiple of the selected retention in each case. Larger policy surpluses are termed "second," "third," and so on, each being the amount of reinsurance afforded once the prior surplus reinsurance capacity plus the true net retention have been exceeded. See Surplus Share Reinsurance.
http://www.guycarp.com/portal/extranet/utility/glossary_f.ht...

xxxcmwilliams
United Kingdom
Local time: 17:32
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 148
Grading comment
Thank you

Peer comments on this answer (and responses from the answerer)
agree  Neil Crockford: Or First Excess/Second Excess
1 hr
  -> thanks, but having seen Ruth's other questions, I'm now fairly certain that this is concerning a surplus treaty and don't think 'excess' would be appropriate here because it could be confused with excess of loss.

agree  Egmont
3 hrs
  -> thanks

agree  philippid
6 hrs
  -> thanks
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Changes made by editors
Mar 26, 2008 - Changes made by xxxcmwilliams:
Created KOG entryKudoZ term » KOG term


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