Glossary entry (derived from question below)
Italian term or phrase:
primo rischio asssoluto
English translation:
on an absolute first loss basis
Added to glossary by
Neil Crockford
Feb 11, 2009 08:49
15 yrs ago
7 viewers *
Italian term
primo rischio asssoluto
Italian to English
Other
Insurance
Insurance policy for hang glider - type of insurance cover which, I am told, means insuring something for a proportion of its value and being refunded the same proportion in damages as opposed to "valore intero" which refers to insurance at 100% of value and full refund on damamges.
Proposed translations
(English)
| 5 +1 | on an absolute first loss basis |
Neil Crockford
|
| 5 | actual cash value (ACV) |
Rosanna Palermo
|
Change log
Feb 12, 2009 09:09: Neil Crockford Created KOG entry
Proposed translations
+1
18 mins
Neil Crockford
Native in English
Specializes in field
40 years' industry experience
Native in: English 
Works in: German to English, Portuguese to English, Spanish to English, and 7 more.
Related KudoZ points
:
99
Selected
on an absolute first loss basis
This is the normal UK term for this arrangement.
The insured fixed the sum insured at an amount lower than the full value of the property insured. The insurer will pay claims up to that amount, but if the loss exceeds that amount, the insured has no cover for the part that exceeds it.
The insured fixed the sum insured at an amount lower than the full value of the property insured. The insurer will pay claims up to that amount, but if the loss exceeds that amount, the insured has no cover for the part that exceeds it.
Note from asker:
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4 KudoZ points awarded for this answer.
5 hrs
Rosanna Palermo
Native in Italian
&
English
Accuracy matters - La precisione conta
Native in: Italian 
, English (Variant: US)
Works in: Italian to English
Related KudoZ points
:
15
actual cash value (ACV)
The US version of the same
It is not "market value", but the value of the item prior to the damage which includes depreciation
Actual cash value
From Wikipedia, the free encyclopedia
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In the property and casualty insurance industry, actual cash value (ACV) is a method of computing what an insurer will pay an insured, after a loss, for a specific insured item. It is often a less costly method of insuring articles or structures, but it is also less preferred.
ACV is computed by subtracting depreciation from replacement cost. Replacement cost is the preferred method of insuring.
An example would be as follows: a man purchases a television set for $2,000 in 1990. If he were to attempt to sell the TV today, it may only be worth $100 to a buyer. ACV insurance would only pay $100 if the TV were stolen or damaged in a fire. Conversely, replacement cost insurance would pay the cost of purchasing an equivalent or like kind and quality TV in today's prices.
It is not "market value", but the value of the item prior to the damage which includes depreciation
Actual cash value
From Wikipedia, the free encyclopedia
Jump to: navigation, search
In the property and casualty insurance industry, actual cash value (ACV) is a method of computing what an insurer will pay an insured, after a loss, for a specific insured item. It is often a less costly method of insuring articles or structures, but it is also less preferred.
ACV is computed by subtracting depreciation from replacement cost. Replacement cost is the preferred method of insuring.
An example would be as follows: a man purchases a television set for $2,000 in 1990. If he were to attempt to sell the TV today, it may only be worth $100 to a buyer. ACV insurance would only pay $100 if the TV were stolen or damaged in a fire. Conversely, replacement cost insurance would pay the cost of purchasing an equivalent or like kind and quality TV in today's prices.
Note from asker:
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