reserva

English translation: non-disclosure

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:reserva
English translation:non-disclosure
Entered by: Comunican

13:10 Jun 29, 2020
Spanish to English translations [PRO]
Bus/Financial - Insurance / business insurance
Spanish term or phrase: reserva
This is one of the options for a policy not being renewed:

"cuando se produzca una agravación del riesgo de acuerdo con lo estipulado en la Ley de contrato de seguro, cuando haya habido reserva o inexactitud en las declaraciones del Tomador del Seguro o cuando se produzca una variación en la situación jurídica del Tomador del Seguro o del Asegurado (como puede ser por ejemplo, concurso de acreedores)."

Dictionary and Proz not sounding right to me.

Thanks in advance for any help.
Comunican
United Kingdom
Local time: 14:40
non-disclosure
Explanation:
"reserva o inexactitud en las declaraciones" is usually translated in insurance: "non-disclosure or misrepresentation" -

Insurers may avoid liability under the policy in the event of if the insured fails to disclose all material circumstances (non-disclosure) or makes misrepresentations before the policy is concluded (misrepresentation).

Another way of expressing "reserva" in Spanish is "reticencia" and "inexactitud en las declaraciones" is also in Spanish: "falsa declaración"
so, to the best of my knowledge, "reticencia y falsa declaración" in insurance is the same as "reserva o inexactitud en las declaraciones" and both in English, "non-disclosure or misrepresentation".

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Note added at 1 hr (2020-06-29 15:03:46 GMT)
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my apologies for "in the event of if the insured ..." I chopped and changed and evidently didn't check properly before submitting.... the sentence is
"Insurers may avoid liability under the policy if the insured fails to disclose all material..."
Selected response from:

Patricia Tregoning
United Kingdom
Local time: 14:40
Grading comment
Many thanks Patricia and everyone else for your help with this.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +5non-disclosure
Patricia Tregoning
3 +3Omission
Déborah Gelardi
4reticence
Alicia Orfalian
3Reserved
Ninoslav Matijevic


Discussion entries: 3





  

Answers


17 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Reserved


Explanation:
Your submitted term: "Cuando haya habido reserva", I would translate in the following way: When is it reserved? Greetings

Ninoslav Matijevic
Serbia
Native speaker of: Native in SerbianSerbian

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: You can't translate straight from a dictionary here. Any credible references?
3 hrs
  -> I get a desire to contribute a answers to the questions here. I am not a professional for this language pair yet enough. Thanks. "Saludos sinceros".
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8 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
Omission


Explanation:
In this context, it seems to me that “reserva o inexactitudes” means omission or misrepresentation. It’s something that was not stated and that relates to the risk.

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Note added at 18 mins (2020-06-29 13:28:13 GMT)
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No es la acepción más común, pero significa “guardarse algo” y puede utilizarse en sentido amplio como de guardarse información. Mirá toda esta definición https://dle.rae.es/reserva

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Note added at 19 mins (2020-06-29 13:29:43 GMT)
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Por otro lado, en los contratos suelen usarse palabras que no son del habla cotidiana o se las usa con otro sentido.

Déborah Gelardi
Argentina
Local time: 11:40
Works in field
Native speaker of: Native in SpanishSpanish
Notes to answerer
Asker: Thanks, that's my best guess too - but would you use the word "reserva" as a synonym for "omisión" when speaking Spanish?

Asker: ja, es cierto que los contratos sí que tienen su propio vocabulario! Y tu explicación de "guardarse algo" tiene sentido. Gracias por tu ayuda.


Peer comments on this answer (and responses from the answerer)
agree  philgoddard: Reserva seems an unusual choice of word, but errors and omissions usually go together.
39 mins

agree  AllegroTrans
3 hrs

agree  neilmac: The idea is holding back information (keeping it "reserved") by omission.
17 hrs
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
non-disclosure


Explanation:
"reserva o inexactitud en las declaraciones" is usually translated in insurance: "non-disclosure or misrepresentation" -

Insurers may avoid liability under the policy in the event of if the insured fails to disclose all material circumstances (non-disclosure) or makes misrepresentations before the policy is concluded (misrepresentation).

Another way of expressing "reserva" in Spanish is "reticencia" and "inexactitud en las declaraciones" is also in Spanish: "falsa declaración"
so, to the best of my knowledge, "reticencia y falsa declaración" in insurance is the same as "reserva o inexactitud en las declaraciones" and both in English, "non-disclosure or misrepresentation".

--------------------------------------------------
Note added at 1 hr (2020-06-29 15:03:46 GMT)
--------------------------------------------------

my apologies for "in the event of if the insured ..." I chopped and changed and evidently didn't check properly before submitting.... the sentence is
"Insurers may avoid liability under the policy if the insured fails to disclose all material..."


    https://www.financial-ombudsman.org.uk/businesses/complaints-deal/insurance/misrep-and-non-disclosure
Patricia Tregoning
United Kingdom
Local time: 14:40
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 4
Grading comment
Many thanks Patricia and everyone else for your help with this.
Notes to answerer
Asker: Many thanks Patricia. Is it your reading of the text, therefore, that it is a *deliberate* leaving out (which is what I would take "non-disclosure" to mean), as opposed to omission which could be deliberate or accidental - or indeed altogether unwittingly...?


Peer comments on this answer (and responses from the answerer)
agree  Sergio Kot: This would be my choice as it conveys the meaning of the source better than "reticence".
10 mins
  -> Thank you

neutral  philgoddard: Same as omission.
24 mins

agree  Luis M. Sosa: Strongly agree.
1 hr
  -> Thank you Luis

agree  AllegroTrans
1 hr
  -> Thank you Chris

agree  Yvonne Gallagher
9 hrs
  -> Thank you Yvonne

agree  neilmac: Nothing wrong with a bit of synonymy. This seems more straightforward/less ambiguous to me.
15 hrs
  -> Thank you Neil
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
reticence


Explanation:
It may result in nullity of the insurance contract.

Please see:
Transparency in Insurance Contract Law
books.google.com.ar › books

2.5.6 Nullity for Fraud or Fraud The LCS sanctions fraud with the nullity of the contract. Moreover, this is the consequence of the fraudulent acts of the insured in the previous instances and ... Reticence and/or inaccurate misleading statement.

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Note added at 1 hr (2020-06-29 14:19:04 GMT)
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¿Qué es Reticencia en Seguros?

Dentro de lo que es el mundo de los seguros, el concepto de reticencia hace referencia al hecho de no decir todo lo que se sabe, básicamente muy parecido a lo que habíamos indicado antes en la definición.

En este sentido, cuando se contrata una póliza de seguros, el asegurado tiene la obligación y el deber de informar al asegurador acerca de todas las circunstancias que permiten evaluar los riesgos.

https://segurosyriesgos.com.ar/reticencia-significado/

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Note added at 4 hrs (2020-06-29 18:04:59 GMT)
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reticence noun

Definition of reticence

1 : the quality or state of being reticent : reserve, restraint
2 : an instance of being reticent
3 : reluctance sense 1

https://www.merriam-webster.com/dictionary/reticence

Alicia Orfalian
Argentina
Local time: 11:40
Works in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 64

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: English doesn't use "reticence" in this context - your reference is a poor translation.
18 mins

neutral  AllegroTrans: I agree with Phil - you wouldn't see "reticence" used in an insurance policy wording
22 hrs
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