padidinta draudimo suma

English translation: overinsurance

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Lithuanian term or phrase:padidinta draudimo suma
English translation:overinsurance
Entered by: Valters Feists

07:02 Dec 26, 2017
Lithuanian to English translations [PRO]
Bus/Financial - Insurance / insurance policy
Lithuanian term or phrase: padidinta draudimo suma
Draudimas padidinta draudimo suma.
Olga Prisekina-Olrichs
Netherlands
Local time: 20:02
overinsurance
Explanation:
As used and defined in Lithuanian documents*, it appears to denote excessive/unjustified insurance amount, corresponding to the English “overinsurance”.


* “padidinta+draudimo+suma” (Google)
https://tinyurl.com/yccyalrk


[1]
“8.3 Draudimas padidinta draudimo suma
8.3.1 Jeigu draudimo suma, nurodyta draudimo sutartyje, viršija draudimo vertę, draudimo sutartis negalioja tai draudimo sumos daliai, kuri viršija draudimo vertę.”
(PDF)
http://static.manodraudimas.lt/salygos/PZU_KASKO_DRAUDIMO_Ta...

[2]
“Jei draudimo suma draudimo sutartyje yra nustatyta didesnė nei draudimo vertė, tuomet laikoma, kad tai yra draudi-
mas padidinta draudimo suma
. Įvykus draudžiamajam įvykiui ir paaiškėjus draudimo sumos ir draudimo vertės aukš-
čiau nurodytiems neatitikimams, Draudikas už draudimo vertę viršijančią ir tokiu būdu negaliojančią draudimo sumos
dalį atitinkamos draudimo įmokos dalies negrąžina ir draudimo išmokos dalies, viršijančios draudimo vertę, nemoka.”
http://www.ld.lt/sites/default/files/Verslo nutrūkimo draudi...

[3]
“overinsurance :
insurance (as from two or more policies) that exceeds the value of the thing covered
* overinsurance may lead to fraud by the insured; broadly : excessive insurance (as from needlessly duplicative coverage)
http://www.merriam-webster.com/legal/overinsurance

[4]
“overinsurance
(of goods or property) insurance in excess of actual value”
http://www.collinsdictionary.com/dictionary/english/overinsu...

[5]
“overinsurance
Situation where an insured has bought so much coverage that it exceeds the actual cash value (or the replacement cost) of the risk or property insured. For the insurance company overinsurance constitutes a moral hazard because the insured (overinsured) may be tempted to make a false claim to profit from a loss.”
http://www.businessdictionary.com/definition/overinsurance.h...

[6]
“Article 16. Over-Insurance
1. Over-insurance shall be possible only when seeking to avoid devaluation of currency or when an increase in the value of the subject matter is envisaged, if so provided for in the contract of insurance.
2. After establishing that the sum insured stated in the contract of insurance exceeds the value of the subject matter, parties to the contract of insurance shall have the right to demand a reduction of the sum insured. In such cases the insurance contribution shall be reduced accordingly.” - REPUBLIC OF LITHUANIA / LAW ON INSURANCE (obsolete version)
http://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.101598?jf...

Selected response from:

Valters Feists
Latvia
Local time: 21:02
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2overinsurance
Valters Feists
5increased sum insured
Gintautas Kaminskas
3an increased insurace amount
Ramunas Kontrimas


  

Answers


45 mins   confidence: Answerer confidence 5/5
increased sum insured


Explanation:
Draudimas padidinta draudimo suma. = Insurance of an increased sum insured.

Gintautas Kaminskas
Australia
Local time: 06:02
Native speaker of: Native in LithuanianLithuanian
PRO pts in category: 4
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
an increased insurace amount


Explanation:


Ramunas Kontrimas
Lithuania
Local time: 21:02
Native speaker of: Lithuanian
PRO pts in category: 4
Login to enter a peer comment (or grade)

8 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
overinsurance


Explanation:
As used and defined in Lithuanian documents*, it appears to denote excessive/unjustified insurance amount, corresponding to the English “overinsurance”.


* “padidinta+draudimo+suma” (Google)
https://tinyurl.com/yccyalrk


[1]
“8.3 Draudimas padidinta draudimo suma
8.3.1 Jeigu draudimo suma, nurodyta draudimo sutartyje, viršija draudimo vertę, draudimo sutartis negalioja tai draudimo sumos daliai, kuri viršija draudimo vertę.”
(PDF)
http://static.manodraudimas.lt/salygos/PZU_KASKO_DRAUDIMO_Ta...

[2]
“Jei draudimo suma draudimo sutartyje yra nustatyta didesnė nei draudimo vertė, tuomet laikoma, kad tai yra draudi-
mas padidinta draudimo suma
. Įvykus draudžiamajam įvykiui ir paaiškėjus draudimo sumos ir draudimo vertės aukš-
čiau nurodytiems neatitikimams, Draudikas už draudimo vertę viršijančią ir tokiu būdu negaliojančią draudimo sumos
dalį atitinkamos draudimo įmokos dalies negrąžina ir draudimo išmokos dalies, viršijančios draudimo vertę, nemoka.”
http://www.ld.lt/sites/default/files/Verslo nutrūkimo draudi...

[3]
“overinsurance :
insurance (as from two or more policies) that exceeds the value of the thing covered
* overinsurance may lead to fraud by the insured; broadly : excessive insurance (as from needlessly duplicative coverage)
http://www.merriam-webster.com/legal/overinsurance

[4]
“overinsurance
(of goods or property) insurance in excess of actual value”
http://www.collinsdictionary.com/dictionary/english/overinsu...

[5]
“overinsurance
Situation where an insured has bought so much coverage that it exceeds the actual cash value (or the replacement cost) of the risk or property insured. For the insurance company overinsurance constitutes a moral hazard because the insured (overinsured) may be tempted to make a false claim to profit from a loss.”
http://www.businessdictionary.com/definition/overinsurance.h...

[6]
“Article 16. Over-Insurance
1. Over-insurance shall be possible only when seeking to avoid devaluation of currency or when an increase in the value of the subject matter is envisaged, if so provided for in the contract of insurance.
2. After establishing that the sum insured stated in the contract of insurance exceeds the value of the subject matter, parties to the contract of insurance shall have the right to demand a reduction of the sum insured. In such cases the insurance contribution shall be reduced accordingly.” - REPUBLIC OF LITHUANIA / LAW ON INSURANCE (obsolete version)
http://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.101598?jf...




    Reference: http://www.ld.lt/sites/default/files/Verslo%20nutr%C5%ABkimo...
    Reference: http://www.businessdictionary.com/definition/overinsurance.h...
Valters Feists
Latvia
Local time: 21:02
Native speaker of: Latvian
PRO pts in category: 4
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Inga Jokubauske
6 mins

agree  Rita Vaicekonyte
20 hrs
Login to enter a peer comment (or grade)



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