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cede

English translation: assign

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:ceder
English translation:assign
Entered by: kairosz (Mary Guerrero)
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12:23 Mar 27, 2003
Spanish to English translations [PRO]
Bus/Financial - Insurance / Insurance
Spanish term or phrase: cede
La compañía abridora emite un recibo para el cliente por el total de la prima y una vez cobrado éste, cede a las compañías aceptantes la proporción de prima que les corresponde en el reparto del coaseguro.
kairosz (Mary Guerrero)
Mexico
Local time: 06:40
assigns
Explanation:
hth
Claudia
Selected response from:

claudia bagnardi
Local time: 08:40
Grading comment
Muchas gracias, Caludia
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +5assigns
claudia bagnardi
5 +2cedesPaul Stevens
5Additional commentPaul Stevens


  

Answers


5 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
assigns


Explanation:
hth
Claudia

claudia bagnardi
Local time: 08:40
Native speaker of: Native in SpanishSpanish
PRO pts in category: 12
Grading comment
Muchas gracias, Caludia

Peer comments on this answer (and responses from the answerer)
agree  Parrot: or cedes
2 mins
  -> Hola Parrot! Thanks.

agree  María Eugenia Wachtendorff: or transfers
5 mins
  -> thx María Eugenia!

agree  Sabrina Eskelson: transfers, as Maria says
8 mins
  -> thx Sabrina

agree  Sheilann
10 mins
  -> Gracias Sheila

agree  xxxEDLING
11 mins
  -> Gracias , EDLING

agree  Mariana Solanet
1 hr

disagree  Paul Stevens: Sorry, but this is NOT insurance terminology
2 hrs
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2 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
cedes


Explanation:
This is specific insurance terminology when a company coinsures (in this case) or reinsures part of the risk with other companies.

"Assigns" is not insurance terminology.

Ref: 20 years' international insurance broking experience and an Associate of the Chartered Insurance Institute.

Paul Stevens
Local time: 12:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 217

Peer comments on this answer (and responses from the answerer)
agree  xxxcmwilliams: yes, definitely
10 mins
  -> Thank you

agree  María Isabel Estévez (maisa)
1 day1 hr
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3 hrs   confidence: Answerer confidence 5/5
Additional comment


Explanation:
I just thought that it would be appropriate to clarify my comments above and add that "assign" or "assignment" CAN be used in an insurance context, as follows:

- assignment of a policy, i.e. the transfer of rights under the contract; and

- assignment of the proceeds of the policy to an assignee.

I apologise for suggesting that the word cannot be used in an insurance context. However, when an insurance company shares a risk with other companies because he cannot or does not wish to retain the whole risk, it CEDES (and does not assign) part of the policy as coinsurance (as in this case)or reinsurance.

Hope this clarifies.

Paul Stevens
Local time: 12:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 217
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