capital patrimonial

English translation: sum insured for Business Interruption and/or Civil Liability

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:capital patrimonial
English translation:sum insured for Business Interruption and/or Civil Liability
Entered by: Comunican

19:42 Jun 24, 2020
Spanish to English translations [PRO]
Bus/Financial - Insurance / commercial insurance
Spanish term or phrase: capital patrimonial
This is from a business insurance contract:

"Se tomarán en consideración las sumas aseguradas para cada Bien Material y Capital Patrimonial, separadamente."

Is it simply "equity"?

Thanks for any pointers!

(UK English ideally, please)
Comunican
United Kingdom
Local time: 17:18
sum insured
Explanation:
capital asegurado (sum insured)
Valor atribuido por el titular de un contrato de seguro a los bienes cubiertos por la póliza y cuyo importe es la cantidad máxima que está obligado a pagar el asegurador, en caso de siniestro. En la práctica reaseguradora, se habla de capital asegurado (total suma del riesgo) para distinguirlo de capital retenido, capital aceptado o capital cedido.
@Comunican
I agree with your translation -in reply to Adrian-: "...viéndose reflejada dicha valoración en la Suma Asegurada..."
Selected response from:

Luis M. Sosa
Ecuador
Local time: 12:18
Grading comment
I have now heard back from the client: "Capitales patrimoniales son los capitales asegurados de las coberturas de Lucro Cesante y/o Responsabilidad Civil si estuvieran contratados". Hence: "sums insured for Business Interruption and/or Civil Liability". Many thanks for everyone's help and forbearance, it was quite a palaver this one!
4 KudoZ points were awarded for this answer



Summary of answers provided
4Equity capital
Lara Garau
3 +1capital resources
Michael Grabczan-Grabowski
4sum insured
Luis M. Sosa
4(ins.) proprietary fund
Adrian MM.
3heritage capital
Lisa Rosengard


Discussion entries: 16





  

Answers


13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Equity capital


Explanation:
El diccionario de Cabanellas dice que Equity Capital es el capital propio de una sociedad frente a terceros.

Lara Garau
Argentina
Local time: 14:18
Native speaker of: Native in SpanishSpanish
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
capital resources


Explanation:
In the Spanish-speaking world (much like in the English-speaking world), there seems to be much confusion between using terms like patrimonio (estate, assets, or capital resources), patrimonio social (corporate assets), capital social (share capital), patrimonio neto (equity) and, in this case, capital patrimonial.

I doesn't appear to me that capital patrimonial is a widely-used term nor does it appear to be a generally-accepted technical term, and I suspect they mean patrimonio or patrimonio social instead.

In the context of the original text, I would say it makes more sense to refer to corporate resources, as "equity" per se isn't something that you can logically insure.

According to the RAE, the relevant definition of the word patrimonio is as follows:

"2. m. Conjunto de los bienes y derechos propios adquiridos por cualquier título."

On the website https://bit.ly/2CuL3mr it says the following:

"De manera general cuando hablamos de patrimonio social nos referimos al conjunto de bienes y propiedades de una empresa, mientras que el capital social hace referencia a las aportaciones que realizan los dueños o socios de una compañía.

...

¿Qué es el patrimonio social?
Según el modelo de negocio de una compañía, el patrimonio social son los recursos financieros y económicos que usa la empresa para lograr sus objetivos relacionados con los bienes o servicios que ofrece a los consumidores.

Para conocer el verdadero patrimonio social de una empresa es necesarios sumar los activos (como por ejemplo vehículos e inmuebles) y los derechos y restarle las obligaciones que tenga la compañía con terceros (por ejemplo hacer frente a las cuotas de un crédito). De esta manera se conocerá realmente el valor del patrimonio social.
"

This fits the definition of capital resources, according to the website https://bit.ly/3dqyup6:

"What are Capital Resources?

Definition: The term capital resource is an economic concept that refers to man-made elements employed to produce goods or services. They are resources that allow the company to carry on with its productive activities.
"

It makes more sense to me that a company would want to insure their capital resources (machines, tools, etc. to produce a product or carry out a service) rather than their equity (the monetary value of a business beyond any amounts owed on it in liabilities or the interest of the owner of common stock).

One of the definitions of patrimonio in the Collins Spanish Dictionary is "3. (Com) net worth, capital resources."

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Note added at 1 hr (2020-06-24 20:53:10 GMT)
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Please excuse the typo in my second sentence, as it's meant to read "It doesn't appear to me that...". :-)

Michael Grabczan-Grabowski
Canada
Local time: 11:18
Works in field
Native speaker of: English
Notes to answerer
Asker: Thanks Michael. I agree that insuring equity seems unlikely.


Peer comments on this answer (and responses from the answerer)
agree  AllegroTrans
5 days
  -> Thank you. It seems you are the only one that agrees. I'm still convinced that capital resources must be the closest to the intended meaning. ;-)
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20 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
sum insured


Explanation:
capital asegurado (sum insured)
Valor atribuido por el titular de un contrato de seguro a los bienes cubiertos por la póliza y cuyo importe es la cantidad máxima que está obligado a pagar el asegurador, en caso de siniestro. En la práctica reaseguradora, se habla de capital asegurado (total suma del riesgo) para distinguirlo de capital retenido, capital aceptado o capital cedido.
@Comunican
I agree with your translation -in reply to Adrian-: "...viéndose reflejada dicha valoración en la Suma Asegurada..."



    Reference: http://www.fundacionmapfre.org/fundacion/es_es/publicaciones...
Luis M. Sosa
Ecuador
Local time: 12:18
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 4
Grading comment
I have now heard back from the client: "Capitales patrimoniales son los capitales asegurados de las coberturas de Lucro Cesante y/o Responsabilidad Civil si estuvieran contratados". Hence: "sums insured for Business Interruption and/or Civil Liability". Many thanks for everyone's help and forbearance, it was quite a palaver this one!
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8 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
(seg.) capital patrimonial
(ins.) proprietary fund


Explanation:
Capital is ambiguous in an insurance context as can also mean a professional indemnity etc. benefit payable. Capital asegurado: sum insured (ins. dictionary)

las sumas aseguradas para cada Bien Material y Capital Patrimonial > the sums insured for each Tangible Asset and (for each) ----.

Proprietary capital - proprietor's = owner's capital - or equity share capital, as the full title goes, of a company.

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Note added at 20 heures (2020-06-25 16:27:49 GMT)
--------------------------------------------------

My original hunch of the Benefit Insured leads me back inexorably to: 'valuation of / the capital sums for / the proprietary funds insured ...'

Example sentence(s):
  • Los seguros patrimoniales son aquellos que cubren los bienes del asegurado por los daños o perjuicios que puedan sufrir. Esto incluye tantos los *objetos físicos como incluso el capital financiero* del contratante.
  • Proprietor’s fund refers to total investment made by owner(s) of a business enterprise. In other words, it indicates the value of total assets of a business enterprise after deducting its long and short terms liabilities.

    Reference: http://economipedia.com/definiciones/seguro-patrimonial.htme...
    Reference: http://eng.proz.com/personal-glossaries/entry/17850127-aport...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24
Notes to answerer
Asker: Thank you Adrian. So, I would use "valuation of the proprietary funds insured" in the following sentence: "Si se contratase la cobertura de Lucro Cesante y/o Responsabilidad civil el Tomador del Seguro habrá tenido en cuenta los siguientes criterios para la valoración de los capitales patrimoniales asegurados, viéndose reflejada dicha valoración en la Suma Asegurada de estas coberturas..."?


Peer comments on this answer (and responses from the answerer)
neutral  Michael Grabczan-Grabowski: It seems your suggestion would be synonymous with equity in this case. Is equity or share capital something that can be insured? (I genuinely don't know for sure; I'm willing to change to this to an agree upon confirmation). Patrimonio = assets
12 hrs
  -> 'Ah don't fink so' - my original hunch - that the asker's > capitales patrimoniales > pluralisation now gravitates to - is not equity in the singular, but capital sums or benefits insured // for economic losses > seguros de daños patrimoniales puros ...
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5 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
heritage capital


Explanation:
Heritage or patrimonial capital is something from the past, considered as part of the inheritance of present day society.
According to the description, heritage or patrimonial capital is considered separately from other material benefits.

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Note added at 1 day 20 hrs (2020-06-26 16:28:16 GMT)
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In the description, 'heritage' or patrimonial capital could be a substantial fund, which I believed could be for the public good (or, for example, with a view to create a public asset such as a community centre or library). This might only be possible if there is no one from a family line left to inherit. In the other information provided I found the following:
"Capital patrimonial es perteneciente o relativo al patrimonio (conjunto de bienes y derechos proprios adquiridos por cualquier título)"
"Patrimonial (heritage) capital is belonging to or is relative to the inheritance or birthright (acquired assets and proprietary rights combined by any title)."
"O bienes pertenecientes a una persona natural o jurídica, afectos a un fin, susceptibles de estimación económica"
"Or assets belonging to a native or legal person, attached to a purpose or an end, with a possibility of (capable of) economic valuation"
"Capital es activos y bienes económicos destinados a producir mayor riqueza"
"Capital consists of fixed, frozen or invisible assets and economic gains which bring greater richness."
"Capital fijo u económico que se emplea con carácter permanente en la producción"
"Fixed or economic capital which is used with permanent character within production".
I understood it to be separate from other materialist benefits because it could belong to a group of people or society. The information provided states:
"Se tomarán en consideración las sumas aseguradas para cada Bien Material y Capital Patrimonial, separadamente".
"The insured amounts will be taken into consideration for every material asset and heritage capital (or property inherited from ancestors), separately." This could explain how it may appear in a business insurance policy.
For further information I found the web address: www.openknowledge.worldbank.org/handle/10986/20541
"The return of patrimonial capitalism: Capital in the 21st century by Thomas Piketty provides a unified theory of the functioning of the capitalist economy by linking theories of economic growth and functional and personal income distributors."

Lisa Rosengard
United Kingdom
Local time: 17:18
Native speaker of: English

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: You say it's from the past, so how does it appear in a business insurance policy? Can you supply a credible reference to back up your suggestion?
21 hrs
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