English translation of "acquis" - "earned"

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164 months ago

Kate (a guest user) asked this question:

Language pair:	French > English
Subject:	Law / Certificates
Level of diffculty:	Easy / medium
Word or term in question:	acquis
Context:	Sans préjudice de nos autres droits, la portion de prime ...
Keywords:	... afférente à la période non courue nous reste alors acquise à titre d'indemnité -- I need help understand this whole part "nous reste alors acquise à titre d'indemnité", I'm just not getting this. The "nous" refers to the insurer (this is in general provisions of a professional liability policy). thx

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Complete list of answers and comments

164 months ago

wrote:

shall remain definitely granted as indemnity

164 months ago

wrote:

Without prejudice to our other rights, the share of premium pertaining to the period not as yet expired shall remain ours as compensation

164 months ago

wrote:

earned

My comment:

the portion of the premium for the unexpired period is earned by us

earned and unearned premium is the concept

My references:

The premium corresponding to the time period remaining on an insurance policy. Unearned premiums are proportionate to the unexpired portion of the risk, for which coverage has been sought by the insured party. Thus, it is deemed to have not yet been earned, or "unearned," by the insurer. It appears as a liability on the insurer's balance sheet, as it would have to be paid back upon cancellation of the insurance policy.

Read more: http://www.investopedia.com/terms/u/unearned-premium.asp#ixzz2AEYUeMJn

Comments by other colleagues on this answer:

164 months ago

wrote:

I agree

164 months ago

wrote:

I agree

The asker rated this answer best