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Liberación de gastos

English translation: defense outside limits (of liability)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Liberación de gastos
English translation:defense outside limits (of liability)
Entered by: Nikki Graham
Options:
- Contribute to this entry
- Include in personal glossary

10:30 Oct 4, 2001
Spanish to English translations [PRO]
Bus/Financial - Insurance
Spanish term or phrase: Liberación de gastos
en una clausula de un seguro:
Fianzas y Defensa: -xx.000 ptas. por siniestro
Liberación de Gastos:incluida
I know what it means - that the insurer must pay up the whole sum if the peril occurs and cannot deduct expenses for lawyers, litigation erc. Any help?
mjnmc
Local time: 18:25
defense outside limits (of liability)
Explanation:
Given that:
Liberación de Gastos

La garantía de responsabilidad civil se entenderá liberada de cualquier deducción por gastos judiciales o extrajudiciales, que, como consecuencia de la tramitación del expediente del siniestro se hayan producido a la aseguradora, cuando aquellos gastos sumados a la indemnización satisfecha escedan de la citada garantía.

I eventually came across this:
DEFENSE COVERAGE
Defense or supplementary payments can be handled in two ways. The first option is commonly known as "defense outside the limits of liability." This is the most desirable option.

Suppose you are undergoing a lawsuit. If your policy provides defense outside limits, then the legal cost to defend (lawyers' fees and court costs) do not erode or effect your policy limits. The policy limits only apply to damages that may be incurred.

The second option is commonly known as "defense inside limits of liability." This means that the policy limits as stated on your policy are the total costs that the insurance company will pay on your behalf for any given loss, legal costs and damages.

have also come across "defense costs paid in addition (to the limit of liability). Both came up with about 25 hits each in Google

Attaching two insurance glossaries - the first has the term.
Selected response from:

Nikki Graham
United Kingdom
Local time: 17:25
Grading comment
Exactly! Thank you very much, Amara.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5defense outside limits (of liability)
Nikki Graham
5expenses clearance/ settlement
Karina Fabrizzi
5Charge release
José Cavalcante
4liquidation of expenses (included)
Parrot
4Release from expenses
Henry Hinds


  

Answers


12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Release from expenses


Explanation:
Will this do it for you?


    Exp.
Henry Hinds
United States
Local time: 10:25
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 315
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44 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
liquidation of expenses (included)


Explanation:
I.e., any expenses of the type incurred are included and cannot be charged apart, as I understand. Otherwise, I am unable to locate a specific glossary for this.

Parrot
Spain
Local time: 18:25
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 74
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4 hrs   confidence: Answerer confidence 5/5
Charge release


Explanation:
Gastos is more frequently use as charges in English.


    SAP Glossary
José Cavalcante
Brazil
Local time: 15:25
Native speaker of: Native in PortuguesePortuguese
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5 hrs   confidence: Answerer confidence 5/5
expenses clearance/ settlement


Explanation:
espero que te sirva

Karina Fabrizzi
Argentina
Local time: 14:25
Native speaker of: Spanish
Login to enter a peer comment (or grade)

21 hrs   confidence: Answerer confidence 5/5
defense outside limits (of liability)


Explanation:
Given that:
Liberación de Gastos

La garantía de responsabilidad civil se entenderá liberada de cualquier deducción por gastos judiciales o extrajudiciales, que, como consecuencia de la tramitación del expediente del siniestro se hayan producido a la aseguradora, cuando aquellos gastos sumados a la indemnización satisfecha escedan de la citada garantía.

I eventually came across this:
DEFENSE COVERAGE
Defense or supplementary payments can be handled in two ways. The first option is commonly known as "defense outside the limits of liability." This is the most desirable option.

Suppose you are undergoing a lawsuit. If your policy provides defense outside limits, then the legal cost to defend (lawyers' fees and court costs) do not erode or effect your policy limits. The policy limits only apply to damages that may be incurred.

The second option is commonly known as "defense inside limits of liability." This means that the policy limits as stated on your policy are the total costs that the insurance company will pay on your behalf for any given loss, legal costs and damages.

have also come across "defense costs paid in addition (to the limit of liability). Both came up with about 25 hits each in Google

Attaching two insurance glossaries - the first has the term.



    Reference: http://www.aigdirect.com/glossary/glossary.cfm
    Reference: http://www.insurancenoodle.com/glossary.asp
Nikki Graham
United Kingdom
Local time: 17:25
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 76
Grading comment
Exactly! Thank you very much, Amara.
Login to enter a peer comment (or grade)




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Changes made by editors
Jun 6, 2005 - Changes made by Nikki Graham:
Field (specific)(none) » Insurance


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