Glossary entry (derived from question below)
Swedish term or phrase:
teckna försäkring
English translation:
bind coverage
Added to glossary by
Oliver Dirs
Nov 11, 2010 20:30
13 yrs ago
3 viewers *
Swedish term
teckna försäkring
Swedish to English
Bus/Financial
Insurance
In an insurance broker's marketing blurb:"Som kund ska du vara säker på, att när du vänder dig till oss, vänder du dig till en partner som har mandat att teckna försäkring." I'm familiar with customers who "tecknar försäkring" - take out/contract insurance, but how would you translate in this context?
Proposed translations
(English)
| 5 +2 | bind coverage |
Charles Ek
|
| 4 -1 | underwrite |
Mark Thompson
|
| 4 -1 | authoris(z)ed to issue insurance |
Madeleine MacRae Klintebo
|
| 4 -1 | (BrE/insurer) write insurance |
Adrian MM. (X)
|
| 3 -1 | take out insurance |
Diarmuid Kennan
|
Proposed translations
+2
20 mins
Charles Ek
United States
United States
Native in English
Specializes in field
United States
Your meaning, from your words and mine
Native in: English 
Works in: Norwegian to English, Danish to English, Swedish to English, and 2 more.
Related KudoZ points
:
24
Selected
bind coverage
Been there, did that, in all three roles in the insurance transaction (as insured, broker/agent, and underwriter.)
In your case, the broker is advertising the fact that it is no mere sales agent that only sells insurance. It has actual authority granted from the insurer to bind the insurer to a policy. In other words, the broker acts as the insurer's underwriter in the sense of someone who examines offered risks and agrees to bind the insurer to the coverage.
I would translate "som har mandat att teckna försäkring" as "who has authority to bind coverage".
See the link for examples of "authority to bind coverage".
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Note added at 5 hrs (2010-11-12 01:38:51 GMT)
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See http://www.irmi.com/online/insurance-glossary/terms/m/managi... for a good brief description of the role such a broker is playing.
In your case, the broker is advertising the fact that it is no mere sales agent that only sells insurance. It has actual authority granted from the insurer to bind the insurer to a policy. In other words, the broker acts as the insurer's underwriter in the sense of someone who examines offered risks and agrees to bind the insurer to the coverage.
I would translate "som har mandat att teckna försäkring" as "who has authority to bind coverage".
See the link for examples of "authority to bind coverage".
--------------------------------------------------
Note added at 5 hrs (2010-11-12 01:38:51 GMT)
--------------------------------------------------
See http://www.irmi.com/online/insurance-glossary/terms/m/managi... for a good brief description of the role such a broker is playing.
Reference:
4 KudoZ points awarded for this answer.
Comment: "Thanks - this translation was actually confirmed by a similar job later on which mentions that the company is a "binder" of insurance."
-1
3 mins
Diarmuid Kennan
Ireland
Ireland
Native in English
Ireland
Reliable and accurate
Native in: English
Works in: Danish to English, Norwegian to English, Swedish to English
Related KudoZ points
:
10
take out insurance
my suggestion
-1
15 mins
Mark Thompson
United Kingdom
United Kingdom
Native in English
Works in field
United Kingdom
Friendly, conscientious, reliable
Native in: Finnish 
, English
Works in: English to Finnish, English to Swedish, Finnish to English, and 1 more.
underwrite
In case of a broker, acting on behalf of another company or an intermediate; underwriting an insurance by an authorised party, i.e. signing it on behalf of and for the end customer. This is how I would understand the sentence.
Peer comment(s):
| disagree |
Charles Ek
: Describing this as "signing it on behalf of and for the end customer" is incorrect. The signing here is on behalf of the insurer, not the insured customer, and touted as a business advantage for this broker.
5 hrs
|
-1
29 mins
Madeleine MacRae Klintebo
United Kingdom
United Kingdom
Native in Swedish
&
English
United Kingdom
Bilingual and bicultural (SE-UK & UK-SE)
Native in: English , Swedish
Works in: Swedish to English, English to Swedish, English, and 1 more.
authoris(z)ed to issue insurance
An insurer who is authorised by the relevant regulator is able to issue insurance.
Reference:
http://www.totalfrance.com/france/forum/viewtopic.php?p=825275&sid=a61105222db87ade890561712cecbb56
Peer comment(s):
| disagree |
Charles Ek
: This case involves a broker with underwriting authority to act on behalf of an insurer, not the licensed insurer itself. Such a broker (called a "managing general agent") might even issue policies, but these would be in the name of the insurer.
4 hrs
|
-1
1 day 1 hr
(BrE/insurer) write insurance
The asker is British, so must be looking for a British and not a binding-coverage AmE answer.
Peer comment(s):
| disagree |
Charles Ek
: The previous ProZ question you cite was answered incorrectly. And it's irrelevant in this instance re: British usage -- see the link I provided above in response to your comment.
29 mins
|
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