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manda
decidir la portada del juego
Feb 4, 2012 07:39
12 yrs ago
1 viewer *
Spanish term

siniestros esperados

Spanish to English Bus/Financial Business/Commerce (general) Insurance
Does this refer to losses or claims?

Entendiéndose por costos futuros los siniestros esperados más los gastos de adquisición y administración, el costo de capital y un mínimo de resultado esperado que deberá depender del volumen y rangos mínimos estipulados mediante MCEV pricing.

Thanks
Proposed translations (English)
3 +6 expected claims
4 +1 expected losses
4 anticipated/estimated/forecasted claims
4 expected claim payments
3 Expected casualties/Expected disasters
References
Siniestralidad esperada

Discussion

Richard Hill (asker) Feb 4, 2012:
OK Kevin, thanks! One doubt still niggles me, which is, it seems more logical to consider losses as future costs rather than claims, because aren't the losses what the company expects to pay out on claims?
Kevin G Feb 4, 2012:
OK, given your answers I am certain that I would use "expected claims" or "expected claim amounts" in this context although "expected losses" is also acceptable.
My reasoning: the wording is used to express a term in the calculation of another value. The result of the calculation could result in an specific "loss" but the terms are values that are not losses in themselves.

In insurance texts I tend to use "loss" for a specific amount of money that the insurance company will lose/spend for a specific cause (declared loss, etc.) and "claim" for anything relating to a more generic level.

PS: The list of terms you pasted is very similar to my personal insurance glossary
Richard Hill (asker) Feb 4, 2012:
I'm pretty much set on "expected losses" as per the context, being part of the future costs.

To answer your questions:
who wrote it? It was written by an insurance company.
who did they write it for? It's for internal use.
why did they write it? Other than to confuse me, I don't know :)
Lastly, the phrase appears in the given context and then again here:

Para cada cobertura k se obtendrá de la cotización teórica el número de siniestros esperados n como la suma de las tasas BE de todos los participantes redondeada a cero decimales:

n=round up (∑▒〖〖BEqx〗_k,0)〗
Kevin G Feb 4, 2012:
Rich,
Please let us know where this phrase will appear: who wrote it? who did they write it for? why did they write it? Depending on the answers to these questions you should be able to work out the correct answer for the context.
Cheers.
Richard Hill (asker) Feb 4, 2012:
Even if I am still confused, everyone’s input is much appreciated, and considering that “siniestro”, in its many guises, appears a few hundred times in this document, if an underwriter, broker or adjuster happens by, please HELP!
Richard Hill (asker) Feb 4, 2012:
siniestro can be loss or claim I thought I was confused before :) and you probably won’t have time to check all this out, but this is a summary of my continued confusion %-( :

The clearest examples of how “siniestro” is used for both “claim” and “loss” is shown with SLG and Claudia’s reference, http://tiny.cc/qq1dl
• siniestro (loss; claim)
• siniestro pagado (claim paid)
• siniestros al contado (cash loss)
• siniestro producido (declared loss)
• siniestro total (total loss)
• siniestro en tramitación (outstanding claim)
• siniestro parcial (partial loss)
• siniestro declarado (declared loss)
• siniestro pendiente (outstanding claim)
• siniestro liquidado (claim settled)
• siniestralidad esperada (expected loss)


Jane’s reference for “expected claims” is also sound although provides no translation http://tiny.cc/gpvdp

Jenni’s reference to “Loss ratio” seems to be Siniestralidad http://www.businessdictionary.com/definition/expected-claims...

Neil agrees with “expected claims” and mentions that “siniestro total” (total LOSS) means “the car is a write-off.

Emiliano’s reference describing “loss forecasting” as measuring “expected losses” is sound http://tiny.cc/yan74
Kevin G Feb 4, 2012:
I think more than one of the suggested terms could be used depending on context. The key to choosing the correct term is the type of document where the term has been used; my guess is that it has been written in a document for internal use by the insurance company, possibly for actuarial purposes.
If this is the case, I think that it is talking about a cost or expense and not a loss. It says that the costs mentioned are equal to expected claims plus acquirement and administration costs, the capital cost and another amount based on the stated criteria. I would consider the sum of these values to be an entry in the debit columns of the accounts; they wouldn’t by themselves result in a loss. Therefore, if the context is correct, I would translate it as “expected claims”.
If my guess as to the document type is incorrect I reserve the right to change my mind!
SLG Feb 4, 2012:
Loss/claim? Is it possible that claim is more commonly used in the UK for siniestro in this context and loss more in the US? If there are any experts out there, I too would appreciate clarification on this!
Jenni Lukac (X) Feb 4, 2012:
Have a look at http://en.wikipedia.org/wiki/Loss_ratio. I think that it may be the difference between profitable claim payouts and payouts that have cost the company money, but I'm not an expert. This article talks about the loss ratios. I believe that expected claims is what is being mentioned here. Diccionario técnico inglés español económico-financiero-actuarial: - Resultado de la Búsqueda de libros de Google
books.google.es/books?isbn=8497450256...
Josefina Martínez Barbeito, Julio G. Villalón - 2003 - Business & Economics - 862 páginas
Expected claims ratio Expandable Extensible. Expanded ... Expectation of life loss Probabilidad de fallecimiento. Expectation of ... Expected claim Siniestro esperado.
Richard Hill (asker) Feb 4, 2012:
Thanks Emiliano and Jane It's 03:30 here so I'm off for some kip :)
Emiliano Pantoja Feb 4, 2012:
Al tratarse el tema de los gastos de "administración" entiendo que se refiere a los siniestros que se produzcan con independencia del curso que se dé a los mismos.
Richard Hill (asker) Feb 4, 2012:
I wonder how interchangeable these terms are? The claim payment distributions, expected losses, expected claim payments, and standard
deviations for each policy are:
http://www.soa.org/files/pdf/P-21-05.pdf

Actuarially Fair: The price for insurance which exactly represents the expected losses.
http://www.ruralandgeneral.com.au/insurance-terms-e.php

technique of risk management (better known as retention or self insurance ) under which an individual or business firm assumes expected losses that are not catastrophic,

Source: http://www.allbusiness.com/glossaries/assumption-risk/494850...

http://tinyurl.com/7hbcugf
http://tinyurl.com/6rlccxu
Richard Hill (asker) Feb 4, 2012:
more context: El presente documento establece las bases regulatorias y técnicas que regirán las cotizaciones de reaseguro en los mercados de xxx vida. En este documento se establecen primeramente las reglas generales como principios y estándares que regirán los procedimientos de cotización/suscripción de riesgos.
Toby Wakely Feb 4, 2012:
any more context? If we are talking about insurance, then we could use the word "claims"

Proposed translations

+6
1 hr
Selected

expected claims

I think this is the phrase needed. See definition below.
Reference:

http://www.businessdictionary.com/definition/expected-claims.html

Note from asker:
The term "siniestros" is used throughout the document, sometimes meaning losses and sometimes claims, and as insurance is not my field, it can get confusing, especially as I get the feeling that sometimes they are interchangeable and other times not so %-(
Peer comment(s):
agree Jenni Lukac (X)
50 mins
Rich, I recently did a CV for someone who worked in the car insurance field and I had exactly the same problem. I ended up translating 'siniestros' as either 'accidents' or 'claims' depending on the context.
agree neilmac : It usually means a crashed or damaged vehicle... for example "siniestro total" means the car is a write-off.
1 hr
agree James A. Walsh
3 hrs
agree Rafael Molina Pulgar
5 hrs
agree Sergio Gaymer
6 hrs
agree Yvonne Gallagher
14 hrs
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4 KudoZ points awarded for this answer. Comment: "Went with this in the end. Thanks Jane :)"
+1
2 hrs

expected losses

http://www.irmi.com/online/insurance-glossary/terms/e/expect...
expected loss
Estimated loss frequency multiplied by estimated loss severity, summed for all exposures. This measure of loss refers to a best estimate of the total losses of a particular type, e.g., workers compensation or general liability, of an organization that is expected during a given period (normally a year).

http://www.mapfre.com/wdiccionario/terminos/vertermino.shtml...
siniestralidad esperada (expected loss)

http://www.mapfre.com/wdiccionario/terminos/vertermino.shtml...
siniestro (loss; claim)
Es la manifestación concreta del riesgo asegurado, que produce unos daños garantizados en la póliza hasta determinada cuantía. Siniestro es el incendio que origina la destrucción total o parcial de un edificio asegurado; el accidente de circulación del que resultan lesiones personales o daños materiales; el naufragio en el que se pierde un buque o las mercancías transportadas; el granizo que destruye una plantación agrícola, etc. Siniestro es pues, un acontecimiento que, por originar unos daños concretos previstos en la póliza, motiva la aparición del principio indemnizatorio, obligando a la entidad aseguradora a satisfacer, total o parcialmente, al asegurado o a sus beneficiarios, el capital garantizado en el contrato.
Importe de los siniestros que, de acuerdo con experiencias anteriores, se calcula que deberán ser satisfechos.

--------------------------------------------------
Note added at 2 hrs (2012-02-04 10:26:54 GMT)
--------------------------------------------------

http://www.irmi.com/online/insurance-glossary/terms/l/loss.a...
loss
(1) The basis of a claim for damages under the terms of a policy. (2) Loss of assets resulting from a pure risk. Broadly categorized, the types of losses of concern to risk managers include personnel loss, property loss, time element loss, and legal liability loss.

http://www.irmi.com/online/insurance-glossary/terms/c/claim....
claim
Used in reference to insurance, a claim may be a demand by an individual or corporation to recover, under a policy of insurance, for loss which may come within that policy.
Peer comment(s):
agree Alicia Orfalian : De acuerdo, loss es el siniestro (la pérdida) y claim es el reclamo/reclamación para obtener la indemnización correspondiente
4 hrs
Gracias Alicia. Saludos
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4 hrs

Expected casualties/Expected disasters

Siniestro (seguros) = casualty, loss
From the Merl Bilingual Law Dictionary.
So expected losses or expected casualties are possible.
Expected disasters.
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9 hrs

anticipated/estimated/forecasted claims

this seems to be about the future estimate of claims
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2 days 23 hrs

expected claim payments

Based on the context, the focus is insurer operating costs, including how much the insurer expects to pay out in claims. Keep in mind the total amount of the loss for an insured event may be greater than what the insurer must pay since there may be deductibles, policy limits, etc.
Reference:

http://www.actuarialoutpost.com/actuarial_discussion_forum/archive/index.php/t-211037.html

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Reference comments

2 hrs
Reference:

Siniestralidad esperada

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