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09:10 Dec 16, 2014 |
Spanish to English translations [PRO] Law/Patents - Insurance / informe ajustadores | |||||||
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| Selected response from: Charles Davis Spain Local time: 09:28 | ||||||
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4 +1 | prevent (the company) from exercising its salvage or subrogation rights |
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3 | stop exercising the right to recovery by physical salvaging or by legal process |
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prevent (the company) from exercising its salvage or subrogation rights Explanation: I agree with you that "recupero material" means salvage: if the car is written off and the insurance company pays out, the wrecked car becomes its property, for example. "Recupero legal" means recovery by legal means, and I believe this refers to subrogation. "SUBROGACIÓN (art. 22). Recupero Legal. Pagada la indemnización opera la subrogación legal (art. 553 C. Com). Consiste en: Ejercicio de derechos, recurso y acciones; Del asegurado (que tuviera ó pudieran corresponderle); Contra terceros con eventual responsabilidad civil ó penal. Deber del asegurado: Realizar y ejecutar actos “necesarios y razonables” Gastos son a expensas del asegurador Ello, para conservar los derechos a cobrar al tercero responsable." http://www.escueladeseguros.cl/content/docs/1120/04_incendio... "Subrogation is the right or rights of the insurer to assume the rights of the insured." http://en.wikipedia.org/wiki/Subrogation So it means that the company that has paid a claim assumes the insured's legal rights of recovery. "Salvage receipts will arise where an asset such as a motor vehicle is classified as an insurance write off and on payment of the sum insured the asset becomes the property of the insurance company. Where the asset has some value the net cost of the claim will be the insurance payout less the sums receivable on salvage. Subrogation is the process by which an insurer who has met a claim relating to injury caused by a third party acquires the rights of the policy holder against the third party in question, including the right to sue for damages. Enquiries are sometimes appropriate to ensure that salvage and subrogation receipts are correctly accounted for." http://www.hmrc.gov.uk/manuals/gimanual/gim6110.htm "Once an insurer acquires salvage or subrogation rights (generally by paying a claim under the insurance contract), the insurer has an asset." http://www.ifrs.org/Current-Projects/IASB-Projects/Insurance... -------------------------------------------------- Note added at 52 mins (2014-12-16 10:03:11 GMT) -------------------------------------------------- Hi Claudia, I'm sure it's the same thing, but in English I can't find any alternative term, like "legal recovery", in common use. I think it would be best to use "subrogation". |
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stop exercising the right to recovery by physical salvaging or by legal process Explanation: Unsure whether the process is as narrow as subrogation - though an ingenious extrapolation - perhaps the latter half of the term means using legal processes on paper like a contract or conveyance. Reference: http://www.linguee.es/espanol-ingles/traduccion/recupero+leg... |
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