settlement or award

English translation: voluntary payment or payment imposed by a court or tribunal

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	settlement or award
Selected answer:	voluntary payment or payment imposed by a court or tribunal
Entered by:	B D Finch

17:07 Feb 29, 2020

English language (monolingual) [PRO]
Insurance

English term or phrase: settlement or award

Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado division of insurance within the department of regulatory agencies.

Masoud Kakouli Varnousfaderani KudoZ activity Questions: 561 (1 open) (1 without valid answers) (72 closed without grading) Answers: 103 Türkiye
Local time: 03:33

voluntary payment or payment imposed by a court or tribunal

Explanation:
"https://rhahn.com/personal-injury/the-difference-between-a-s...
There are only two ways to receive payments from insurance companies. If payment is voluntary, it’s considered a settlement. If the defendant to an injury case is sued, then the insurance company hires counsel to defend the action on behalf of the defendant. If the case is taken to trial and the plaintiff wins, then the defendant is ordered to pay the plaintiff, then it’s considered an award."

https://www.srdlawnotes.com/2017/01/distinction-between-awar...

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Note added at 2 days 1 hr (2020-03-02 18:40:54 GMT)
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As I noted below to Daryo, while a settlement may be the result of negotiation, it doesn't necessarily involve any negotiation. It might just be a sum (possibly a fixed sum) offered by the insurer and accepted by the insured.

Selected response from:

B D Finch
France
Local time: 02:33

Grading comment

4 KudoZ points were awarded for this answer

SUMMARY OF ALL EXPLANATIONS PROVIDED

5 +2

voluntary payment or payment imposed by a court or tribunal

B D Finch

amount due to them

philgoddard

agreement and payable money

esmaeel balaghi

Answers

4 mins confidence:

amount due to them

Explanation:
This is how I'd translate it. They both effectively mean the same thing: the amount that should be paid to the policyholder following negotiation or litigation.

philgoddard
United States
Specializes in field
Native speaker of: English
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)

agree

Lydia De Jorge

15 mins

agree

Sarah Maidstone

51 mins

neutral

Mark Robertson: Not the same. Award by a court, settlement agreed by the parties/with insurer. The source makes a distinction. The target should too?

2 hrs

-> That's what I said. Litigation or negotiation.

disagree

B D Finch: They don't mean the same thing!

1 day 2 hrs

disagree

Daryo: ways too vague // you would probably also replace "policyholder or claimant" by just one word?

1 day 8 hrs

neutral

Yvonne Gallagher: yes to "the amount that should be paid to the policyholder following negotiation or litigation" but you muddy the waters in your answer. The terms simply don't "mean the same thing" even if end result is the amount due

1 day 17 hrs

neutral

Luis M. Sosa: There is a difference in procedures that finally determine the payment and its amount.

1 day 23 hrs

21 mins confidence:

agreement and payable money

Explanation:
settlement means agreement between two parties, award means some payable money is granted to somebody by court or insurance company

https://www.eleylawfirm.com/Questions-People-Ask-Us/What-is-...

esmaeel balaghi
Iran
Local time: 04:03
Native speaker of:

Persian (Farsi)

1 day 2 hrs confidence:

peer agreement (net): +2

voluntary payment or payment imposed by a court or tribunal

B D Finch
France
Local time: 02:33
Native speaker of: English
PRO pts in category: 9

Peer comments on this answer (and responses from the answerer)

agree

Daryo: more accurately: settlement = negotiated between the parties

5 hrs

-> Thanks Daryo. A settlement needn't be negotiated, it can just be made by the insurer and accepted by the insured party.

neutral

Yvonne Gallagher: "voluntary"? don't see how this is any improvement on Phil's answer? //no it doesn't if you actually read it and it didn't warrant a disagree

15 hrs

-> Phil's answer ignores the difference between a settlement (voluntary) and an award (imposed by a court or arbitrator).// He wrote "They both effectively mean the same thing", but they do NOT mean the same thing at all.

agree

Luis M. Sosa: I agree with your interpretation, for that that is normallly what insurance policies contemplate.

21 hrs

-> Thanks Luis

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English translation: voluntary payment or payment imposed by a court or tribunal

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