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seguir la suerte - in this context

English translation: follow the fortunes

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:seguir la suerte - in this context
English translation:follow the fortunes
Entered by: Jenette Holyoak

15:34 Jul 2, 2004
Spanish to English translations [PRO]
Bus/Financial - Insurance
Spanish term or phrase: seguir la suerte - in this context
Hi Proz,
Insurance wording that says:
Si la Cedente se viera obligada por sentencia judicial firme a hacer frente a responsabilidades distintas de la pactadas el Reasegurador seguira la suerte de la Cedente y asumira su parte de la responsabilidad..

Normally I would use "follow the prescribed procedures of the Cedant" but that doesn't look right in this context!
Any suggestions appreciated!
Jenette Holyoak
United Kingdom
Local time: 13:38
follow the fortunes
Explanation:
normal clause in reinsurance

follow the fortunes. A reinsurance contract provision that the reinsurer
is bound by the ceding insurer's settlement decisions on ...
insurance.cch.com/rupps/follow-the-fortunes.htm

Larry Schiffer explains "follow-the-fortunes," a bedrock doctrine in reinsurance
that exemplifies the unique business partnership between the reinsured and ...
www.irmi.com/expert/Articles/2001/Schiffer10.aspx

... Follow The Fortunes - But Not For Ex Gratia Payments. Mound Cotton &
Wollan By Mitchell D. Otto. In Lexington Insurance Co. v. Prudential ...
articles.corporate.findlaw.com/.../ filename/insurancelaw_1_426 - 45k



--------------------------------------------------
Note added at 5 hrs 6 mins (2004-07-02 20:40:53 GMT)
--------------------------------------------------

It\'s usually expressed as something like \'the reinsurer shall follow the fortunes of the Ceding Company...\'

...A concept inherent in any reinsurance relationship which, when expressed in an agreement, generally runs to a statement that the reinsurer \"shall follow the fortunes of the ceding company in all matters falling under this Agreement\" or shall do so \"...in all respects as if being a party to the insurance,\" or similar language. Expressed or not, the concept speaks to a relationship under which the reinsured\'s duty – to treat reinsured policy rights and obligations as if there were no reinsurance – is extended into a right.
www.guycarp.com/portal/extranet/glossary_a-f.html

... of Reinsurer shall begin simultaneously and automatically with that of Ceding Company and shall continue and follow the fortunes of Ceding Company throughout ...
www.pds-gaic.com/pds/downloads/ agreements/VSCReinsuranceAgreement.pdf

Selected response from:

cmwilliams (X)
United Kingdom
Local time: 13:38
Grading comment
Thanks! :)
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +6will follow suit
Judy Rojas
5 +4follow the fortunes
cmwilliams (X)
5shall be bound by any final decree pronounced against the Grantor
Gloria Colon
5shall follow the Cedant's lead and shall assume
Jane Lamb-Ruiz (X)


  

Answers


9 mins   confidence: Answerer confidence 5/5 peer agreement (net): +6
will follow suit


Explanation:
It means that the insurance company will do the same

Judy Rojas
Chile
Local time: 08:38
Works in field
Native speaker of: Spanish
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  christopher bolton
3 mins
  -> Thank you Christoper
agree  Tom2004: definitely!
5 mins
  -> Thank you Tom
agree  David Jessop
25 mins
  -> Thank you, David
agree  Rosa Diez Tagarro
34 mins
  -> Gracias Rosa
agree  Cristian Garcia
40 mins
  -> Gracias
agree  Xenia Wong
5 hrs
  -> Gracias, Xenia
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13 mins   confidence: Answerer confidence 5/5
shall be bound by any final decree pronounced against the Grantor


Explanation:
aquí lo que significa es que el Reasegurador se verá afectado por el dictamen en contra de la Cedente y tendrá que responder una vez exista un dictamen final en contra de la Cedente

Gloria Colon
Local time: 08:38
Specializes in field
Native speaker of: Native in SpanishSpanish
Login to enter a peer comment (or grade)

46 mins   confidence: Answerer confidence 5/5
shall follow the Cedant's lead and shall assume


Explanation:
Reinsurance is complicated..it's cedant,right? Anyway, follow the lead is right

Jane Lamb-Ruiz (X)
Works in field
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in category: 103
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +4
follow the fortunes


Explanation:
normal clause in reinsurance

follow the fortunes. A reinsurance contract provision that the reinsurer
is bound by the ceding insurer's settlement decisions on ...
insurance.cch.com/rupps/follow-the-fortunes.htm

Larry Schiffer explains "follow-the-fortunes," a bedrock doctrine in reinsurance
that exemplifies the unique business partnership between the reinsured and ...
www.irmi.com/expert/Articles/2001/Schiffer10.aspx

... Follow The Fortunes - But Not For Ex Gratia Payments. Mound Cotton &
Wollan By Mitchell D. Otto. In Lexington Insurance Co. v. Prudential ...
articles.corporate.findlaw.com/.../ filename/insurancelaw_1_426 - 45k



--------------------------------------------------
Note added at 5 hrs 6 mins (2004-07-02 20:40:53 GMT)
--------------------------------------------------

It\'s usually expressed as something like \'the reinsurer shall follow the fortunes of the Ceding Company...\'

...A concept inherent in any reinsurance relationship which, when expressed in an agreement, generally runs to a statement that the reinsurer \"shall follow the fortunes of the ceding company in all matters falling under this Agreement\" or shall do so \"...in all respects as if being a party to the insurance,\" or similar language. Expressed or not, the concept speaks to a relationship under which the reinsured\'s duty – to treat reinsured policy rights and obligations as if there were no reinsurance – is extended into a right.
www.guycarp.com/portal/extranet/glossary_a-f.html

... of Reinsurer shall begin simultaneously and automatically with that of Ceding Company and shall continue and follow the fortunes of Ceding Company throughout ...
www.pds-gaic.com/pds/downloads/ agreements/VSCReinsuranceAgreement.pdf



cmwilliams (X)
United Kingdom
Local time: 13:38
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 148
Grading comment
Thanks! :)

Peer comments on this answer (and responses from the answerer)
agree  Jane Lamb-Ruiz (X): OH BOY...UNREAL...isn't that too much!! Great...GOLD STAR!!!!!!!
24 mins
  -> Thanks Jane! There are some strange terms in reinsurance!
agree  Tom2004: yes, indeed, very interesting, but perhaps should be referred to as the "follow-the-fortunes doctrine" or how exactly would you phrase the sentence?
1 hr
  -> Thanks Tom. Please refer to my additional note.
agree  Gloria Colon: thanks for the info! very useful.
2 hrs
  -> Thanks Gloria.
agree  Paul Stevens: Absolutely right! How long did you work in reinsurance? I managed to survive about 20 years in it!
14 hrs
  -> Thanks Paul - nowhere near as long as you!!
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