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por siniestro a primer riesgo

English translation: per loss on a first loss basis

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07:22 Oct 3, 2001
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: por siniestro a primer riesgo
In insurance policy:Moldes, modelos, matrices, clichés y películas: 10 millones de ptas. por siniestro a primer riesgo.
mjnmc
Local time: 04:19
English translation:per loss on a first loss basis
Explanation:
Having worked in Latin American insurance for nearly 20 years, I can advise that a "first loss" policy is one that covers only part of the overall value at risk, and the sum insured is normally based on the maximum amount that the Insured might expect to lose.

This is different from the normal basis of cover which would be on a full value basis. "First loss" policies are often issued on industrial fire and all risks policies.

Here, cover is on a "per loss" basis rather than being a one-off payment; hence, the Insured can claim more thanonce during the policy period.

HTH.
Selected response from:

Paul Stevens
Local time: 03:19
Grading comment
According to the client, it is loss limit per loss - I feel you were the closest. Thanx
2 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2First-loss casualty/accidentdmwray
5per loss on a first loss basisPaul Stevens
5first-risk lossJenette Holyoak
4first-risk casualty
Henry Hinds


  

Answers


3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
first-risk casualty


Explanation:
Though I am not fully clear on what "first-risk" refers to.


    Exp.
Henry Hinds
United States
Local time: 20:19
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in pair: 26512
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22 mins   confidence: Answerer confidence 5/5
first-risk loss


Explanation:
Hi,
First-risk loss is what I normally use in wordings.
Good luck
J.

Jenette Holyoak
United Kingdom
Local time: 03:19
Native speaker of: English
PRO pts in pair: 351
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49 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
First-loss casualty/accident


Explanation:
....10 million ptas. coverage per first-loss casualty/accident

First-loss is the correct terminology in the insurance field.


    Reference: http://www.insurancetranslation.com/Language_Perils/98proper...
dmwray
PRO pts in pair: 8

Peer comments on this answer (and responses from the answerer)
agree  DR. RICHARD BAVRY: I think this is the best rendering
56 mins
  -> Well, thank you doctor

agree  Parrot
1 hr
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3 hrs   confidence: Answerer confidence 5/5
per loss on a first loss basis


Explanation:
Having worked in Latin American insurance for nearly 20 years, I can advise that a "first loss" policy is one that covers only part of the overall value at risk, and the sum insured is normally based on the maximum amount that the Insured might expect to lose.

This is different from the normal basis of cover which would be on a full value basis. "First loss" policies are often issued on industrial fire and all risks policies.

Here, cover is on a "per loss" basis rather than being a one-off payment; hence, the Insured can claim more thanonce during the policy period.

HTH.

Paul Stevens
Local time: 03:19
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 721
Grading comment
According to the client, it is loss limit per loss - I feel you were the closest. Thanx
Login to enter a peer comment (or grade)




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