Glossary entry (derived from question below)
Spanish term or phrase:
capital patrimonial
English translation:
sum insured for Business Interruption and/or Civil Liability
Spanish term
capital patrimonial
"Se tomarán en consideración las sumas aseguradas para cada Bien Material y Capital Patrimonial, separadamente."
Is it simply "equity"?
Thanks for any pointers!
(UK English ideally, please)
4 | sum insured | Luis M. Sosa |
4 | Equity capital | Lara Garau |
3 +1 | capital resources | Michael Grabczan-Grabowski |
4 | (ins.) proprietary fund | Adrian MM. |
3 | heritage capital | Lisa Rosengard |
Proposed translations
sum insured
Valor atribuido por el titular de un contrato de seguro a los bienes cubiertos por la póliza y cuyo importe es la cantidad máxima que está obligado a pagar el asegurador, en caso de siniestro. En la práctica reaseguradora, se habla de capital asegurado (total suma del riesgo) para distinguirlo de capital retenido, capital aceptado o capital cedido.
@Comunican
I agree with your translation -in reply to Adrian-: "...viéndose reflejada dicha valoración en la Suma Asegurada..."
Equity capital
capital resources
I doesn't appear to me that capital patrimonial is a widely-used term nor does it appear to be a generally-accepted technical term, and I suspect they mean patrimonio or patrimonio social instead.
In the context of the original text, I would say it makes more sense to refer to corporate resources, as "equity" per se isn't something that you can logically insure.
According to the RAE, the relevant definition of the word patrimonio is as follows:
"2. m. Conjunto de los bienes y derechos propios adquiridos por cualquier título."
On the website https://bit.ly/2CuL3mr it says the following:
"De manera general cuando hablamos de patrimonio social nos referimos al conjunto de bienes y propiedades de una empresa, mientras que el capital social hace referencia a las aportaciones que realizan los dueños o socios de una compañía.
...
¿Qué es el patrimonio social?
Según el modelo de negocio de una compañía, el patrimonio social son los recursos financieros y económicos que usa la empresa para lograr sus objetivos relacionados con los bienes o servicios que ofrece a los consumidores.
Para conocer el verdadero patrimonio social de una empresa es necesarios sumar los activos (como por ejemplo vehículos e inmuebles) y los derechos y restarle las obligaciones que tenga la compañía con terceros (por ejemplo hacer frente a las cuotas de un crédito). De esta manera se conocerá realmente el valor del patrimonio social."
This fits the definition of capital resources, according to the website https://bit.ly/3dqyup6:
"What are Capital Resources?
Definition: The term capital resource is an economic concept that refers to man-made elements employed to produce goods or services. They are resources that allow the company to carry on with its productive activities."
It makes more sense to me that a company would want to insure their capital resources (machines, tools, etc. to produce a product or carry out a service) rather than their equity (the monetary value of a business beyond any amounts owed on it in liabilities or the interest of the owner of common stock).
One of the definitions of patrimonio in the Collins Spanish Dictionary is "3. (Com) net worth, capital resources."
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Note added at 1 hr (2020-06-24 20:53:10 GMT)
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Please excuse the typo in my second sentence, as it's meant to read "It doesn't appear to me that...". :-)
Thanks Michael. I agree that insuring equity seems unlikely. |
agree |
AllegroTrans
5 days
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Thank you. It seems you are the only one that agrees. I'm still convinced that capital resources must be the closest to the intended meaning. ;-)
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(ins.) proprietary fund
las sumas aseguradas para cada Bien Material y Capital Patrimonial > the sums insured for each Tangible Asset and (for each) ----.
Proprietary capital - proprietor's = owner's capital - or equity share capital, as the full title goes, of a company.
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Note added at 20 heures (2020-06-25 16:27:49 GMT)
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My original hunch of the Benefit Insured leads me back inexorably to: 'valuation of / the capital sums for / the proprietary funds insured ...'
Los seguros patrimoniales son aquellos que cubren los bienes del asegurado por los daños o perjuicios que puedan sufrir. Esto incluye tantos los *objetos físicos como incluso el capital financiero* del contratante.
Proprietor’s fund refers to total investment made by owner(s) of a business enterprise. In other words, it indicates the value of total assets of a business enterprise after deducting its long and short terms liabilities.
http://eng.proz.com/personal-glossaries/entry/17850127-aportación-patrimonial-capital-contribution
Thank you Adrian. So, I would use "valuation of the proprietary funds insured" in the following sentence: "Si se contratase la cobertura de Lucro Cesante y/o Responsabilidad civil el Tomador del Seguro habrá tenido en cuenta los siguientes criterios para la valoración de los capitales patrimoniales asegurados, viéndose reflejada dicha valoración en la Suma Asegurada de estas coberturas..."? |
neutral |
Michael Grabczan-Grabowski
: It seems your suggestion would be synonymous with equity in this case. Is equity or share capital something that can be insured? (I genuinely don't know for sure; I'm willing to change to this to an agree upon confirmation). Patrimonio = assets
12 hrs
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'Ah don't fink so' - my original hunch - that the asker's > capitales patrimoniales > pluralisation now gravitates to - is not equity in the singular, but capital sums or benefits insured // for economic losses > seguros de daños patrimoniales puros ...
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heritage capital
According to the description, heritage or patrimonial capital is considered separately from other material benefits.
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Note added at 1 day 20 hrs (2020-06-26 16:28:16 GMT)
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In the description, 'heritage' or patrimonial capital could be a substantial fund, which I believed could be for the public good (or, for example, with a view to create a public asset such as a community centre or library). This might only be possible if there is no one from a family line left to inherit. In the other information provided I found the following:
"Capital patrimonial es perteneciente o relativo al patrimonio (conjunto de bienes y derechos proprios adquiridos por cualquier título)"
"Patrimonial (heritage) capital is belonging to or is relative to the inheritance or birthright (acquired assets and proprietary rights combined by any title)."
"O bienes pertenecientes a una persona natural o jurídica, afectos a un fin, susceptibles de estimación económica"
"Or assets belonging to a native or legal person, attached to a purpose or an end, with a possibility of (capable of) economic valuation"
"Capital es activos y bienes económicos destinados a producir mayor riqueza"
"Capital consists of fixed, frozen or invisible assets and economic gains which bring greater richness."
"Capital fijo u económico que se emplea con carácter permanente en la producción"
"Fixed or economic capital which is used with permanent character within production".
I understood it to be separate from other materialist benefits because it could belong to a group of people or society. The information provided states:
"Se tomarán en consideración las sumas aseguradas para cada Bien Material y Capital Patrimonial, separadamente".
"The insured amounts will be taken into consideration for every material asset and heritage capital (or property inherited from ancestors), separately." This could explain how it may appear in a business insurance policy.
For further information I found the web address: www.openknowledge.worldbank.org/handle/10986/20541
"The return of patrimonial capitalism: Capital in the 21st century by Thomas Piketty provides a unified theory of the functioning of the capitalist economy by linking theories of economic growth and functional and personal income distributors."
neutral |
AllegroTrans
: You say it's from the past, so how does it appear in a business insurance policy? Can you supply a credible reference to back up your suggestion?
21 hrs
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Discussion
My instinct is still that the term is shorthand for Capital /the sum insured / por daños y perjuicios patrimoniales contracted into such a terse form that it's ambiguous for a Company's Equity Share Capital.
The EU Council mostly translates it as property damage, i.e., relating to assets.
Translating las sumas aseguradas para cada ... Capital Patrimonial could perhaps, in this instance, be translated as amounts insured for every ... Economic Loss, but the term Capital Patrimonial is capitalized, and you'd have to refer to it as Economic Loss all the way through. Besides, I think it's too indirect a translation and strays from the original a bit too far, no?
Would you agree with capital resources or corporate assets? If not, why?
"1. adj. Perteneciente o relativo al patrimonio."
The relevant definitions of patrimonio according to the RAE are:
"2. m. Conjunto de los bienes y derechos propios adquiridos por cualquier título."
"4. m. Der. Conjunto de bienes pertenecientes a una persona natural o jurídica, o afectos a un fin, susceptibles de estimación económica."
The relevant definition of capital according to the RAE is:
"7. m. Econ. Conjunto de activos y bienes económicos destinados a producir mayor riqueza."
And you also get capital fijo (fixed capital), which refers to assets used in production instead of cash:
"capital fijo
1. m. Econ. capital que se emplea con carácter permanente en la producción."
But, of course, you also get share capital. However, again, it makes more sense to me that they would insure "capital resources" or "corporate assets" instead of cash. With the term capital resources, you might get away with it referring to cash as well, although it's referring more to assets.
@Asker: does the original text not provide definitions for these terms anywhere? (I see the terms are capitalized, so maybe they're defined elsewhere.)