insurance bound

13:40 Jan 7, 2020
English to Czech translations [PRO]
Bus/Financial - Insurance
English term or phrase: insurance bound
It is used in a terms of business agreement between the underwriter and an agent

"The person with overall responsibility for the issue of documents evidencing insurances bound is named in Section 3."
"The person authorised to bind insurances within the parameters agreed by the Underwriter..."
Dana Soukupova
Local time: 02:55

Summary of answers provided
4předběžné pojistné krytí
4pojistný závazek
Ondrej Medla



16 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
pojistný závazek

the act of imposing a duty to keep a commitment. In the insurance industry, binding refers to insurance coverage, and means that coverage is in place, although a policy has yet to be issued
Ondrej Medla
Czech Republic
Local time: 02:55
Specializes in field
Native speaker of: Native in CzechCzech
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
předběžné pojistné krytí

předběžné pojistné krytí dokládané příslušným potvrzením před vystavením pojistky pojišťovnou

"An insurancebinder is a temporary insurance policy. It is usually replaced by a policy within 30 to 90 days and dissolves once the policy has been issued. A typical binder consists of only a page or two but it is a valid insurance contract."
Local time: 02:55
Works in field
Native speaker of: Czech
PRO pts in category: 74
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