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Jun 29, 2022 14:03
1 yr ago
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Norwegian term

driftsforsikring

Norwegian to English Bus/Financial Insurance
Part of the insurance specifications in a contract for cooling systems:

"Kunden må selv tegne og opprettholde øvrige forsikringer, herunder blant annet avbrudds- og driftsforsikring, tap av fortjeneste mv."

I found this but it's not much help so far:

"- Driftsforsikring
Inkluderer bygg, maskiner, inventar, løsøre og varer. Dekker plutselige og uforutsette skader og er en ”all risk dekning”.
- Avbruddsforsikring
Avbruddsforsikringen sikrer ditt resultat selv om skade skulle oppstå."

I don't need any assistance with the interruption part.

Discussion

Charles Ek (asker) Jun 29, 2022:
This example from elsewhere will either clarify or further muddy the waters:

"Konsesjonsinnehaver vil måtte stå for nødvendige forsikringer av bygningsmasse, driftsløsøre og inventar og eventuelt driftsforsikring."

I'm starting to think it's best combined with the interruption part under the catch-all term "business interruption insurance".
Charles Ek (asker) Jun 29, 2022:
That's what makes it liability insurance. I sold, underwrote and purchased completed operations insurance for a few decades. :-)
"All risk" is never used in reference to liability insurance. It is strictly a form of property insurance. "Property damage" is a term of art generally used to describe liability insurance, not damage to property owned by the insured.
eodd Jun 29, 2022:
Did you look at the Investopedia definition. It says the following and more: Completed operations insurance covers a contractor's liability for property damage or injuries to a third party once contracted operations cease.
Charles Ek (asker) Jun 29, 2022:
Yeah, I've already considered and rejected that possibility. The problem is that completed operations insurance is a form of liability coverage, not property coverage as the example I cited indicates.
eodd Jun 29, 2022:
I had a look online and found the following (Danish) reference which refers to "Gjennomført driftsforsikring",fullført driftsforsikring"or afsluttet driftsforsikringhttps://www.netinbag.com/no/finance/what-is-completed-operat...
COMPLETED OPERATIONS INSURANCE – A form of liability insurance which covers accidents arising out of operations which have been completed or abandoned provided the accident occurs away from premises owned, rented, or controlled by the insured. This coverage is commonly endorsed to General Liability Policies. https://rmas.fad.harvard.edu/pages/risk-insurance-glossary-c

https://www.investopedia.com/terms/c/completed-operations-in...

Proposed translations

2 hrs

plant & equipment (casualty all-risks) insurance

Plant + eqipment to cover inventar as heavy plant I've steered clear of operational, liability and - commoner or more common for the UK - indemnity insurance, if readers can get my 'drift'.

Query: 'casualty insurance' that is my Lloyds of London marine insurance -> assurance favo(u)rite, but means different things from Oz (general liability) to the USA / equipment casualty - damaged military equipment.

Example sentence:

Plant & Equipment Insurance provides cover for a range of construction equipment such as portable tools, bobcats and forklifts.

The Equipment All Risks policy covers loss of or damage to the mobile equipment, its accessories and spare parts whilst attached thereon as a result of:

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