Jun 20, 2019 19:09
4 yrs ago
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Spanish term

cúmulo

Spanish to English Bus/Financial Insurance loans and credit
I have found in Insurance that cúmulo can be 'aggregates' but I don't think in this case. Funds? Loans? Can't find examples anywhere!

Toda solicitud de credito o cumulo obliga al prestatario a llenar una Declaracion Personal de Salud (DPS), declaracion que se incluye en la Solicitud de afiliacion al Seguro.

Las solicitudes por creditos o cumulos por debajo de US$150,000 o su equivalente en moneda nacional no requieren ser presentadas a La Compania para el proceso de suscripcion.

Proposed translations

33 mins
1 hr

(ins.) aggregate limit (for separate or consolidated credit facilities)

1. Could be an aggregate e.g. risk limit.

2. cúmulo de seguros can sometimes mean double (over-) insurance, so two or more policies taken out on the same risk.

3. the context of credits /credit facilities connotes to me that there is an aggregate cap for separate loans and advances or consolidated loans.
Example sentence:

An aggregate limit caps the total amount that an insurance company pays

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1230 days
Spanish term (edited): cúmulo (in an insurance contract/policy terms)

Accumulation of cover

According to: https://www.lawinsider.com/clause/accumulation-of-cover
- "accumulation of cover. Where the amount insured in good faith by one or more policies with the same insurer exceeds the insurable interest, either party shall have the right to reduce it accordingly". So it isn't a limit to sums payable but rather doubling up on insurance for the same risk.
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