Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
19:37 Nov 11, 2013
Swedish to English translations [PRO] Insurance / IT Manual
I do apologise for not noticing that Tom Thumb was bringing reinsurance into the equation. I misread it as just insurance, probably as the question was about "självrisk" which is defined as "skadebelopp som försäkringstagaren enligt försäkringsvillkoren själv får svara för och som alltid dras av vid utbetalning av försäkringsersättning" by Nationalencyklopedin. I must admit that I was not aware that the term "självrisk" could be used re. "återförsäkring", but there you go. I am neither a lawyer, nor an insurance/reinsurance broker.
Your glossary is from the US so does not apply to the UK, Australia and NZ. Perhaps you should take your own advice and not rely on foreign glossaries...
As for the usage in Australia, I can assure you, after 27 years in the country, that what in Swedish is called "självrisk" is most definitely referred to as "excess" here. And, no, I have not used a dictionary to achieve this knowledge, I have learned through experience, having had various types of insurance in Sweden as well as in Australia over the years, and most recently decided to do some repairs on my roof myself as the excess I would have to pay to have the insurance company pay for the job was a bit excessive in view of the minor damage the wild weather had caused. Unfortunately none of it is tax deductible....
On the British Isles and Oz/NZ, deductible and NOT excess is used on the reinsurance market: www.ewiretx.com/reinsurance/glossary-of-terms.asp Annual Aggregate Deductible. Better read up a textbook on re/insurance (law) than rely on muddled foreign-lingo dictionaries.
The term for "självrisk", i.e. the sum you have to pay yourself before the insurance company takes over, is "excess" in the UK, Australia and New Zealand. It appears that the North Americans are using the term "deductible" here, so the translation would have to reflect the usage of the part of the world it is intended for.
I am unaware of the existence of the term "excess insurance," which of course doesn't mean it doesn't exist -- it could be a matter of dialect. However, "excess insurance" strikes me as a misnomer, since a "självrisk" is what I described in my answer and has nothing to do with an excessive or extra amount of insurance.
The (Canadian) definition here also seems to agree with me: