May 17, 2022 13:09
1 yr ago
21 viewers *
Spanish term
Honduras
English/Spanish Professional Translator
Native in: Spanish 
, English
Works in: English to Spanish, Spanish to English
parte directa y cedida
Spanish to English
Bus/Financial
Insurance
Manual de Atención de Reclamaciones / Claims Handling Manual
Please help! I'm translating a Claims Handling Manual for an Insurance Company and in the below paragraph, I am stuck on how to translate the last part of the paragraph, i.e., the phrase "...en la parte directa y cedida." Below is my translations so far for this paragraph.
Source text:
Area de Operaciones
Área responsable de validad la calidad de la información para garantizar que el proceso de emisión de fianzas se realice de manera adecuada y apegada a los controles y políticas de X, así como revisar que las gestiones registradas en sistema se afecten a las cuentas contables correspondientes, para que en conjunto con el área de finanzas (coordinador de contabilidad) validen que las gestiones de reclamaciones estén debidamente registradas contablemente en la parte directa y cedida.
Translation:
Operations Area
Area responsible for validating the quality of the information to ensure that the issuance of bonds is carried out properly and in accordance with X’s controls and policies, as well as reviewing that the procedures recorded in the system affect the corresponding accounts, so that together with the Finance Area (Accounting Coordinator), they validate that the claims procedures are duly registered in the accounting records
Thanks in advance for any help you might provide!
Source text:
Area de Operaciones
Área responsable de validad la calidad de la información para garantizar que el proceso de emisión de fianzas se realice de manera adecuada y apegada a los controles y políticas de X, así como revisar que las gestiones registradas en sistema se afecten a las cuentas contables correspondientes, para que en conjunto con el área de finanzas (coordinador de contabilidad) validen que las gestiones de reclamaciones estén debidamente registradas contablemente en la parte directa y cedida.
Translation:
Operations Area
Area responsible for validating the quality of the information to ensure that the issuance of bonds is carried out properly and in accordance with X’s controls and policies, as well as reviewing that the procedures recorded in the system affect the corresponding accounts, so that together with the Finance Area (Accounting Coordinator), they validate that the claims procedures are duly registered in the accounting records
Thanks in advance for any help you might provide!
Proposed translations
(English)
| 4 +1 | under direct and ceded |
philgoddard
|
| 4 | in the duly appointed section |
Andrew Bramhall
|
| 4 -1 | inwards and outwards part |
Adrian MM.
|
Proposed translations
+1
3 hrs
philgoddard
United States
United States
Native in English
Specializes in field
United States
Six languages into flawless English
Native in: English
Works in: German to English, French to English, Spanish to English, and 4 more.
Related KudoZ points
:
132
Selected
under direct and ceded
In the insurance industry, gross premiums written is the sum of both direct premiums written ... and assumed premiums written, before deducting ceded reinsurance.
http://en.m.wikipedia.org/wiki/Gross_premiums_written
I think you should keep it literal. The company writes some of its business direct, and cedes some of it to other insurance and reinsurance companies to spread the burden, so that it's not too exposed to individual risks and classes of risk.
I used to work in a reinsurance company, so this is a specialist subject of mine.
http://en.m.wikipedia.org/wiki/Gross_premiums_written
I think you should keep it literal. The company writes some of its business direct, and cedes some of it to other insurance and reinsurance companies to spread the burden, so that it's not too exposed to individual risks and classes of risk.
I used to work in a reinsurance company, so this is a specialist subject of mine.
Note from asker:
| Thanks philgoddard for your help! And thanks to everyone else for your input! |
Peer comment(s):
| agree |
Z-Translations Translator
17 mins
|
| neutral |
Andrew Bramhall
: Possibly ' direct and via third parties', or ' direct and indirect';
17 hrs
|
|
No, "ceded" is the term used for reinsurance, as my reference shows.
|
4 KudoZ points awarded for this answer.
Comment: "Thanks so much for your help philgoddard!"
11 mins
Andrew Bramhall
United Kingdom
United Kingdom
Native in English
United Kingdom
Flair and accuracy tailored to your text
Native in: English
Works in: Spanish to English, German to English
Related KudoZ points
:
8
in the duly appointed section
...of the accounting records.
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Note added at 12 mins (2022-05-17 13:22:03 GMT)
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Your version sounds fine to me;
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Note added at 12 mins (2022-05-17 13:22:03 GMT)
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Your version sounds fine to me;
Note from asker:
| Thanks but my translation is incomplete; it's missing the last phrase, with which I need help. |
-1
38 mins
Adrian MM.
Austria
Austria
Native in English
Specializes in field
Austria
Retd.T&I, Barrister & Austro-Advokat
Native in: English (Variants: British, Scottish)
Works in: Spanish to English, English to Spanish, French to English, and 5 more.
Related KudoZ points
:
24
inwards and outwards part
estén debidamente registradas contablemente en la parte directa y cedida : may be duly recorded in the books ('on paper') > in the inwards and outwards section.
Literally in the direct and ceded-premium (*re-insured*) bond claims - back and over to Luis M. S. who knows his stuff.
Literally in the direct and ceded-premium (*re-insured*) bond claims - back and over to Luis M. S. who knows his stuff.
Example sentence:
nsurance Co A can get its policies reinsured from Insurance Co B For A it is reinsurance ceded or reinsurance outward For B it is reinsurance accepted or reinsurance inward
Reference:
http://www.proz.com/kudoz/spanish-to-english/insurance/2474690-prima-cedida.html
http://www.proz.com/kudoz/english-to-spanish/insurance/7061098-outwards-reinsurance.html
Note from asker:
| Thank you all for your help and input! |
Peer comment(s):
| disagree |
Andrew Bramhall
: Based on your explanation it should be "insured" and " reinsured" with a third party."Inwards and "outwards" is for factory goods; Once again your links prove nothing in your favour. Agre with Phil below; this can't possibly stand as a translation,sorry.
23 mins
|
| neutral |
philgoddard
: I was in two minds about this. It is indeed about reinsurance, but I don't think "inwards and outwards" works as a translation.
2 hrs
|
Discussion
I can see they are trying to make sure the accountants do a good job about booking claims in the right accounts. Some claims may well exceed the value of the retained risk, so they need to affect the direct and the ceded accounts, ‘indirect’ is not used at all.
A few references:
https://www.lawinsider.com/dictionary/inward-reinsurance
https://actuarialtoolkit.soa.org/tool/glossary/outwards-rein...
https://www.fundacionmapfre.org/publicaciones/diccionario-ma...
https://www.fundacionmapfre.org/publicaciones/diccionario-ma...
Adrian's take could also be used IMO.