Glossary entry (derived from question below)
Spanish term or phrase:
Liberación de gastos
English translation:
defense outside limits (of liability)
Added to glossary by
Nikki Graham
Oct 4, 2001 10:30
22 yrs ago
21 viewers *
Spanish term
Liberación de gastos
Spanish to English
Bus/Financial
Insurance
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?
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?
Proposed translations
(English)
Change log
Jun 6, 2005 15:03: Nikki Graham changed "Field (specific)" from "(none)" to "Insurance"
Proposed translations
21 hrs
Selected
defense outside limits (of liability)
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.
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.
4 KudoZ points awarded for this answer.
Comment: "Exactly! Thank you very much, Amara."
12 mins
44 mins
liquidation of expenses (included)
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.
4 hrs
5 hrs
expenses clearance/ settlement
espero que te sirva
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