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"Claims-Made-Prinzip"

English translation: Claims-made-Prinzip

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06:22 Sep 11, 2000
German to English translations [PRO]
German term or phrase: "Claims-Made-Prinzip"
Again an insurance document in German, but using the above expression. Can anyone tell me if "Claims Made" is used in English? Sounds weird to me!
Mary
Mary Lalevee
United Kingdom
Local time: 17:59
English translation:Claims-made-Prinzip
Explanation:
A standing term in insurance.
The claims-made principle means that the date on which the claim is made determines whether the claim is covered by the insurance policy or not (meaning the claim must be made (reported to the insurance company) during the policy term. There is no such short term in German, which is probably why the English version (Germanize) was used.

The opposite number is the "loss occurrence principle" which means that the date on which the loss occurred determines whether a loss is covered by the insurance policy (meaning the loss must have occurred during the policy term).
Selected response from:

Cornelia
Local time: 18:59
Grading comment
Thank you once again Cornelia. Very helpful indeed.
Mary
4 KudoZ points were awarded for this answer

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Summary of answers provided
naClaims-made-PrinzipCornelia
na"Claims made"Howard Corlett
naAnspruch geltend gemacht
Dr. Sahib Bleher


  

Answers


6 mins
Anspruch geltend gemacht


Explanation:
Some context would be necessary to decide how to phrase it, but a made claim is a "geltend gemachter Anspruch" and Claims-Made-Prinzip would suggest that this Prinzip assumes that a claim has been made, ergo es wird im Prinzip davon ausgegangen, dass ein Anspruch geltend gemacht wurde.


Dr. Sahib Bleher
Local time: 17:59
Native speaker of: Native in GermanGerman
PRO pts in pair: 219
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24 mins
"Claims made"


Explanation:
This is a valid insurance expression used mainly for casualty insurance. For example a person may be affected by a particular incident (Asbestos exposure) in 1999 but the full impact may not materialise until 2002. At this point a claim may be raised in 2002 but against an insurance policy which was issued in 1999.

Howard Corlett
United Kingdom
Local time: 17:59
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 14
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25 mins
Claims-made-Prinzip


Explanation:
A standing term in insurance.
The claims-made principle means that the date on which the claim is made determines whether the claim is covered by the insurance policy or not (meaning the claim must be made (reported to the insurance company) during the policy term. There is no such short term in German, which is probably why the English version (Germanize) was used.

The opposite number is the "loss occurrence principle" which means that the date on which the loss occurred determines whether a loss is covered by the insurance policy (meaning the loss must have occurred during the policy term).

Cornelia
Local time: 18:59
PRO pts in pair: 11
Grading comment
Thank you once again Cornelia. Very helpful indeed.
Mary
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