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understödsförening

English translation: mutual (benefit or aid society)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Swedish term or phrase:understödsförening
English translation:mutual (benefit or aid society)
Entered by: Charlesp
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19:00 Nov 23, 2008
Swedish to English translations [PRO]
Bus/Financial - Insurance
Swedish term or phrase: understödsförening
"försäkringsbolag och en understödsförening "

This referrs to entities mentioned in Chapter 1. Section 1 of the Mutual Benefit Societies Act (1972:262)

I've seen this as "supporters' association" but this is not correct (too odd).

There must be a technical term for this used in the insurance industry.
Charlesp
Sweden
Local time: 03:22
mutual (benefit or aid society)
Explanation:
In the UK at least, they may just be called 'mutuals'.
Selected response from:

xxxAdrian MM.
Local time: 03:22
Grading comment
many possibilities, depending upon jurisdiction. However mutual benefit or aid society seems to be the most generic.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4reciprocal interinsurance exchange
Anna Herbst
3mutual (benefit or aid society)xxxAdrian MM.
3friendly societyCharlotte Merton


  

Answers


7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
reciprocal interinsurance exchange


Explanation:
According to Merriam Webster's Dictionary of Law:

reciprocal exchange
(n)

:an unincorporated association in which members (as individuals, partnerships, trustees, or corporations) exchange contracts and pay premiums through an attorney-in-fact for the insurance of each other liability of each member of the reciprocal exchange was limited to ten times the annual premium called also interinsurance exchange, reciprocal insurance exchange, reciprocal interinsurance exchange



    Reference: http://dictionary.getlegal.com/reciprocal-exchange
Anna Herbst
Australia
Local time: 11:22
Native speaker of: Native in SwedishSwedish, Native in EnglishEnglish
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
neutral  Charlotte Merton: US
10 hrs
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17 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
friendly society


Explanation:
I suspect something along the lines of friendly society is called for.

There is some background at the Association of Friendly Societies (first ref)
"A friendly society (sometimes called a mutual society, benevolent society or fraternal organization) is a mutual association for insurance-like purposes" (second ref)

All friendly societies are benefit societies, but not all benefit societies are friendly societies. There are lots of different kinds of benefit society, many with interests far removed from insurance and mutual relief: 'Examples of benefit societies include trade unions, friendly societies, credit unions, self-help groups, landsmanshaftn, Fraternal organizations such as Freemasons and Oddfellows and many others.' (Wikip.).

- Benevolent society might be clearer than friendly society, depending on the rest of the text. The downside is the general tendency to confuse benevolent society (specific) with benefit society (broad).
- Mutual society is better avoided, as it could be misinterpreted in the US context and is generally more associated with building societies in the UK.
- I wouldn't use fraternal organisation in this context mesself, because of its connotations of men in fancy dress with interesting handshakes.





    Reference: http://www.afs.org.uk/
    Reference: http://en.wikipedia.org/wiki/Friendly_society
Charlotte Merton
Sweden
Local time: 03:22
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
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22 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
mutual (benefit or aid society)


Explanation:
In the UK at least, they may just be called 'mutuals'.

Example sentence(s):
  • 3 Oct 2008 ... A benefit society or mutual aid society is an organization or voluntary association formed to provide mutual aid, benefit or insurance for ...

    Reference: http://en.wikipedia.org/wiki/Benefit_society
xxxAdrian MM.
Local time: 03:22
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 96
Grading comment
many possibilities, depending upon jurisdiction. However mutual benefit or aid society seems to be the most generic.

Peer comments on this answer (and responses from the answerer)
neutral  Charlotte Merton: See third paragraph of my 'friendly society' answer for problems associated with 'benefit society', fourth paragraph for problems with 'mutual society'
18 hrs
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