23:28 May 18, 2017 |
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Russian to English translations [PRO] Bus/Financial - Insurance / Automobile insurance | |||||||
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Summary of answers provided | ||||
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3 +1 | Easy reimbursement insurance |
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3 | “One stop shop” insurance indemnity |
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3 | no-fault insurance |
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Easy reimbursement insurance Explanation: This probably means that Insured person will get his reimbursement from his own insurance company, rather than going to the Third party's insurance company. First option is considered to be easier for the Insured person, because he knows his company already. Second option was the traditional one for OSAGO (Russian compulsory civil liability motor-vehicle insurance) |
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“One stop shop” insurance indemnity Explanation: Insurance indemnity is paid based on the “one stop shop” principle. |
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no-fault insurance Explanation: In its broadest sense, no-fault insurance is any type of insurance contract under which insureds are indemnified for losses by their own insurance company, regardless of fault in the incident generating losses. In this sense, it is no different from first-party coverage. However, the term "no-fault" is most commonly used in the context of state/provincial automobile insurance laws in the United States, Canada, and Australia, in which a policyholder (and his/her passengers) are not only reimbursed by the policyholder’s own insurance company without proof of fault, but also restricted in the right to seek recovery through the civil-justice system for losses caused by other parties. https://en.wikipedia.org/wiki/No-fault_insurance |
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