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accres/decres

English translation: accres/decres

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Dutch term or phrase:Increase/Decrease clause or adjustment clause
English translation:accres/decres
Entered by: Marijke Mayer
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04:28 Jan 16, 2002
Dutch to English translations [PRO]
Bus/Financial - Insurance / insurance
Dutch term or phrase: accres/decres
Hello colleagues, I would like to know the English term for accres/decres in an insurance policy. There is not a lot on the web, this is what was able to find:

accres/ decres-clausule van toepassing. Deze clausule zorgt er voor dat het verzekerd bedrag wordt verhoogd als er onderverzekering wordt geconstateerd.
Art. 6 Accres-Decres
Indien bij schade de voor deze verzekering geldende verzekerde som te laag blijkt te zijn, geldt er een automatische overdekkingsmarge van 30%. Na afloop van elk boekjaar is de verzekerde verplicht zo spoedig mogelijk een verklaring van zijn accountant of boekhouder aan de verzekeraar te over leggen, waaruit de werkelijke grootte van het verzekerd belang over dat boekjaar blijkt. Als dit belang groter of kleiner is dan de geldende verzekerde som, is bijbetaling of restitutie van premie verschuldigd, echter ten hoogste over een bedrag gelijk aan de maximale overdekking over dat boekjaar. Indien voornoemde verklaring niet binnen 12 maanden na afloop van een boekjaar door de verzekeraar is ontvangen, is de verzekerde ongeacht de grootte van het werkelijk belang, de maximaal aanvullende premie verschuldigd.

Alvst bedankt,

Marijke
Marijke Mayer
Netherlands
Local time: 05:01
Increase/decrease clause or Adjustment clause
Explanation:
While I found two sources which list "accres/decres", I am not overimpressed with the translation they provide.
The first (Assurantietermen en wetsartikelen, by R.A. Haverkorn Van Rijsewijk ISBN 90 6007 6141) gives 'Increase/decrease clause' as a solution, and the second (Woordenboek Verzekeringsbedrijf Ne>En, En>Ne by W.B. Vermeij, Kluwer Bedrijfsinformatie, ISBN 9026725671) suggests simply 'Increase/decrease'.

Although I was unable to confirm (sum insured or insurance cover) 'adjustment clause' as a specific insurance term, I would personally have no hesitation in using it in this context since it makes it quite clear what is meant.
Selected response from:

xxxjarry
South Africa
Local time: 06:01
Grading comment
Thank you so much for coming to my rescue, Jarry, as despite everything I have always valued your opinion and will continue to do so. I wholly agree with 'adjustment clause' as that rang a bell immediately as it used to be in our USA fire policy I now belatedly remember, I might do some more Googling with that term. I also appreciate the references quoted as even Van den End did not come up with anything. In addition I also thank Sandra Nortje for both providing me with her term, which, incidentally, I think would have been adequate, as well as for the site. It is great to have such good colleagues in times of need as I was flummoxed!
Marijke
4 KudoZ points were awarded for this answer

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Summary of answers provided
5Always a pleasure. This is what we are here for. Thexxxjarry
4 +1Increase/decrease clause or Adjustment clausexxxjarry
4accretion and depreciation
Sandra Nortje


  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
accretion and depreciation


Explanation:
Marijke
The above seems to me to be relevant. Depending on the context it could also be accretion and reduction, but I think the first more likely.
a useful site I found while searching:
http://www.investorwords.com/cgi-bin/search.cgi?kywrd=accret...

Sandra Nortje
South Africa
Local time: 06:01
Native speaker of: Native in AfrikaansAfrikaans, Native in EnglishEnglish
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Increase/decrease clause or Adjustment clause


Explanation:
While I found two sources which list "accres/decres", I am not overimpressed with the translation they provide.
The first (Assurantietermen en wetsartikelen, by R.A. Haverkorn Van Rijsewijk ISBN 90 6007 6141) gives 'Increase/decrease clause' as a solution, and the second (Woordenboek Verzekeringsbedrijf Ne>En, En>Ne by W.B. Vermeij, Kluwer Bedrijfsinformatie, ISBN 9026725671) suggests simply 'Increase/decrease'.

Although I was unable to confirm (sum insured or insurance cover) 'adjustment clause' as a specific insurance term, I would personally have no hesitation in using it in this context since it makes it quite clear what is meant.

xxxjarry
South Africa
Local time: 06:01
Specializes in field
Native speaker of: English
PRO pts in category: 152
Grading comment
Thank you so much for coming to my rescue, Jarry, as despite everything I have always valued your opinion and will continue to do so. I wholly agree with 'adjustment clause' as that rang a bell immediately as it used to be in our USA fire policy I now belatedly remember, I might do some more Googling with that term. I also appreciate the references quoted as even Van den End did not come up with anything. In addition I also thank Sandra Nortje for both providing me with her term, which, incidentally, I think would have been adequate, as well as for the site. It is great to have such good colleagues in times of need as I was flummoxed!
Marijke

Peer comments on this answer (and responses from the answerer)
agree  Dave Greatrix: Could not be a subject of criticism by the client IMHO
26 mins
  -> Merci!
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9 hrs   confidence: Answerer confidence 5/5
Always a pleasure. This is what we are here for. The


Explanation:
KudoZ points, as far as I am concerned, are merely the means that make it possible and are very much a secondary consideration.

xxxjarry
South Africa
Local time: 06:01
Specializes in field
Native speaker of: English
PRO pts in category: 152
Login to enter a peer comment (or grade)




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