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We help you understand each technical word that may cause doubt. Check out our Glossary

Abalroamento (Collision)

Is the shock between two vessels. The collision may be fortuitous or culpable. Normally the insurance only responds by fortuitous collisions.

Acidente (Accident)

Sudden, unexpected and act independent of the will of the Insured. Can be defined as a sudden and violent action of an external cause, operating as an abnormal and unpredictable process. In general, this is a event that corresponds to the verification of risk.

Acta Adicional (Additional Policy Statement)

Document that formalizes an amendment introduced to the conditions of a contract of insurance, or of a reinsurance treaty.
Document that leads to a policy change.

Actualização (Capital update)

Calculation procedure, which aims to obtain at present date, financial equivalence in function of interest rates, discount, inflation, devaluation, etc., of a value or a range of values.

Agente (Insurance agent)

Intermediary who has the insurance activity with one or more Companies.

Agravamento do risco (risk worsening)

Modification of risk, making it more serious or more dangerous in the eyes of the Insurer. The aggravation of risk, for the most part, implies an increase in premium or a reduction of the responsibilities accepted by the Insurer.

Agregado familiar (Household)

Set of people constituted by the insured person, his/her spouse or by a person who lives in domestic partnership, and their descendants, and smaller wards that should live under the same roof as the policyholder.

Alienação (Alienation)

Sale. Is the transfer of a particular asset, property or other right to another person.

Alijamento (Load dump)

In marine insurance this term means the release of part of the cargo or the ship's equipment, if necessary, in order to salvage the ship and other cargo. The owner of the goods out is entitled to recover your prejudice to the shipowners and the owners of the goods salvaged.

Alteração (Amendment)

Modification of the original contract, in order to adopt new conditions. The request made by the insured, can be accepted or declined by the insurer, or lead to setting the conditions of award. When accepted, the amendments to the contract are made through the issuance of an additional statement.

Antecedentes (Risk history)

It is said of previous elements relating to the risk that the Insurer considers relevant to the assessment. Acceptance of sums of liability and the determination of the premium, can depend on the background to the risk.

Anulação (Cancellation)

Cessation of the effects of a contract.

Apólice (Policy)

Contract between the Policyholder and the Insurer.
Document that headlines the contract between the Policyholder and the Insurer, that includes the General, the Special and the Particular Conditions. In everyday language, the word policy is often used in instead of contract which designates the legal relationship between the Insurer and the Insured.

Apólice de coseguro (Co-insurance Policy)

Only insurance policy underwritten by insurance companies that participate in coinsurance on insurance, with an indication of the proportion of the risks guaranteed by each of them.

Arbitragem (Arbitration)

Intervention of a third person, who meets to issue a binding decision on the parties, in the absence of agreement between these.

Arrebatamento (Rapture)

In marine insurance this term means the removal, by force of the waters, of goods or equipment of the ship.

Arribada (Port of arrival/refuge)

It is said of the entry of a ship or vessel in other port different from the port of destination or stopover port. Reentry in the call port is also considered to be a refuge port. The action can be voluntary, by will of the captain, or needed, caused by force majeure forced entry.

Arrombamento (House breaking)

Is the break, fracture or destruction, in whole or in part, of any element or mechanism that serves to close or prevent the entry, outside or inside, in a given insurable risk.

Assistência (Assistance)

Function to provide assistance to beneficiaries of a contract. This function, in general, is supported by service providers. Can also be a specific mode of insurance, under various forms. The standardized version of these guarantees is usually named by "Assistência em Viagem" and consists essentially in various benefits for cases of repatriation of sick or injured people, advance medical or hospital expenses, transport, etc., when an incident or accident victimize the beneficiaries of the contract.

Ata Adicional (Additional Statement)

Written document, in which the changes to the conditions of the policy are settled.

Auxilio (Assistance)

It is the assistance to ships in distress by other vessels, including the Navy.

Avaria (Breakdown)

Term used to describe damage of goods, under some circumstances, especially in transit. Maritime insurance law designates all extraordinary damage to the ship and the cargo occurred on the sailing and all the expenses made with them. The breakdowns are of two kinds: gross or general and simple or particulars.

Avaria Grossa (General Average)

Is the intentional sacrifice and/or expenses made for the common safety and in order to preserve from a danger the goods involved in the same maritime adventure.

Avaria Particular (Particular Average)

The damage caused to the vessel which repair cost less than a certain percentage, namely 75% of the total value insured. In the case of Transport insurance, a particular average is any damage to the cargo other than a general average.

Aviso de Pagamento do Prémio (Notice Of Payment of Premium)

Formal note, submitted by an Insurance Company to a Policyholder, on the obligation to pay within a deadline set for a premium already won, under penalty of seeing the contract resolved at the end of that period.

Âmbito do Contrato (Scope Of the Contract)

Definition of guarantees, risks covered and excluded risks, deductibles and premiums.

Base de Reclamação (Claims Made Basis)

The Claims Made Basis limits the coverage of a Civil Liability insurance policy to claims complained to the Insured and reported to the Insurer during the policy validity as opposed to the basis of occurrence. Generally considered the date of the first formal complaint to the Insured or the Insurer participation (of both the oldest). See also the BASE DO FACTO GERADOR and BASE DE OCORRÊNCIA

Base do Facto Gerador (Generator Fact Basis)

The Generator Fact Basis gives a coverage of a Civil Liability policy to the claims in which the fact that gave rise to the damage, this is the act committed by the cause or the omission that caused the damage, occurred during the policy validity. The event is obviously prior to the occurrence of the damage. See also the BASE DE OCORRÊNCIA and BASE DE RECLAMAÇÃO.

Base de Ocorrência (Occurrence Basis)

The basis that limits the coverage of a Civil Liability insurance policy to claims incurred during it term. See also FACTO GERADOR and BASE DE RECLAMAÇÃO

Bónus (Bonus)

Reduction of the insurance premium, at the time of renewal of the contract, by the absence of accidents in the past.

Beneficiário (Beneficiary)

The natural or legal person, as defined in the contract, to whom reverts the indemnity arising from an insurance contract or a capital from an investment policy.

Bom Pai de Família (Good Family Man)

Standard concept used in law as a point of reference of the diligence required in conduct. The fault is appreciated checking the diligence of the agent by a good family man, being this the paradigm of the average citizen, reasonably careful, attentive, committed, qualified and skilled.

Caducidade (Expiration)

Extinction of a right in the end of the validity period of the same.

Capital Seguro (Capital Insured)

Amount stated in the schedule of the contract as the maximum limit guaranteed by the insurance contract.

Cargas (Charges)

Sum to add to the pure insurance premium, and intended to cover a certain number of expenses, such as: acquisition costs, collection costs, and management costs.

Carta Verde (Green Card)

Proof of the existence of compulsory insurance, valid and effective automobile liability, also known as international insurance certificate. The Green Card is valid as proof of insurance in all countries mentioned in it.

Carteira (Portfolio)

All insurance or capitalization contracts entered into with an Insured.

Causalidade (Causality)

Is the existence of a cause-and-effect link between the harmful event and the injury, in so far as it relates the fact with the injury.

Centro de Informação, Mediação e Arbitragem dos Seguros Automóveis (Cimasa)

Conflict mediation center, specially designed to resolve disputes between victims and insurance companies as a result of motor accidents. The processes are managed by a judicial magistrate who is to judge and decide. This body has the same validity as a Court of first instance.

Certificado (Certificate)

Document issued by an Insurer assuming or certifying the existence of a valid insurance. Any certificate should be in accordance with the standards determined by the Supervisory Authority to the current legislation.

Certificado de Avaria (Damage Certificate)

Document issued by a Surveyor in which are contained the causes, nature and extent of the damage suffered by the subject insured.

Cessação do Contrato (Contract Termination)

The following modes of termination of the contract are possible: EXPIRATION - the insurance ceases automatically by the occurrence of a fact of contract (term and termination for example); REVOCATION the insurance ceases by agreement between Insured and Insurer; DENUNCIATION - the insurance ceases by a unilateral decision of the parties; RESOLUTION - insurance ceases because one party invokes a cause of termination (claim in certain circumstances, for example) or because the Policyholder do it freely in certain cases after receipt of the policy (this situation corresponds to the waiver by the Policyholder as provided in legislation earlier).

Cláusula (Clause)

Article or condition of an insurance contract specifying rights and / or obligations of the parties.

Cobertura Base (Base Cover)

Set automatic subscription guarantees.

Cobertura Posterior (Later Coverage)

Extension of coverage to cover the complaints during the later period (also referred to as supplemental or subsequent) of claims incurred during the insurance period and not known of the Insured. (Standard definition in the Civil Liability policy).

Coberturas (Covers)

Set of situations or events typically provided for in the contract guaranteed by the Insurer.

Coberturas Facultativas (Facultative Covers)

Set of guarantees (special conditions), which aim to extend the coverage granted by base cover, whose subscription is not compulsory, generally lacks an additional premium payment.


Operation whereby insurance companies guarantee the same risk, each of them taking a fraction of the risk.
The coinsurance is a joint coverage of a risk by several insurers, called coinsurers, of which one is the leader but, without solidarity among them, through a single insurance contract, with the same guarantees and similar duration and with a global premium.

Comissão (Commission)

Established as a percentage of the premiums, attributed to the Agent or Broker. Should distinguish the "Intermediation Commission” intended to remunerate the sales effort and the operational costs, the "Collect Commission" that compensates the work in the collection of premiums.

Comissão de Corretagem (Brokerage Commission)

Remuneration assigned to the Broker by the performance of their duties of brokering.

Companhia de Seguros (Insurance Company)

Entity legally authorized to engage in the business of insurance and to subscribe, with the Policyholder, the insurance contract.

Condições Especiais (Special Conditions)

Set clauses that define the covers subscribed by the Policyholder, which supplement or specify the general conditions and apply generally to certain contracts of the same type.

Condições Gerais (General Conditions)

Set of clauses that define and regulate the General aspects of a contract of insurance: duration, object, applicable law, rights and obligations of the parties, etc., common to all contracts of the same line of business.

Condições Particulares (Particular Conditions)

Clauses that are added to the General and Special Conditions of a contract, to adapt to a particular case, specifying in particular the risk covered, the duration and the beginning of the contract, capital insured, premium, deductibles, the Policyholder, the Insured, the Beneficiaries, and eventually to supplement or modify the General Conditions.

Contrasseguro de Prémios (Counter-insurance of premiums)

Guarantee of repayment of the Life Insurance premiums, when the death of the Insured before the due date of the capital or income.

Contrato de Capitalização (Capitalization Contract)

Life contract whereby the Insurer is committed to pay a lump sum or periodic payments, fixed or indexed, at the expiration of the contract.

Contrato de Seguro (Insurance Contract)

Set of clauses that define and regulate aspects specific to each contract: the effect of the insurance contract, the Insurer that covers a risk given, the Policyholder, the Beneficiaries, forcing the Insurer to perform the right provision in case of occurrence of random event provided in the contract, and the Policyholder undertakes to pay the corresponding premium.
The same as policy.

Corretor (Broker)

A Intermediary who establishes a link between policyholders and the insurance undertaking, assists in such contracts and may perform insurance consultancy duties with policyholders, as well as conduct studies or provide technical advice on insurance.

Coseguro Comunitário (EEU Coinsurance)

In community co-insurance turns joint coverage of a risk by several insurers established in different Member States of the European Union, called coinsurers, of which one is the leader, without solidarity among them, through an insurance contract only, with the same guarantees and similar duration and with a global premium.


Insurance company that participates in a coinsurance policy.

Dano (Damage)

Loss, destruction, damage or personal injury.

Dano Material (Material Damage)

Loss or deterioration of goods, expenditure incurred or a loss of profit.

Dano Moral (Moral Damage)

Moral suffering, attempt on dignity or respect of private life suffered by a person as a consequence of the action of a third party.

Dano Não Patrimonial (Non-Patrimonial Damage)

Prejudice which are not liable to pecuniary valuation, must, however, be compensated by the fulfillment of a pecuniary obligation.

Dano Patrimonial (Patrimonial Damage)

Injury, being liable to pecuniary valuation, that must be repaired or compensated.

Declaração Amigável de Acidente Automóvel - DAAA (Friendly Declaration Of Car Accident)

Form used in the event of a collision between motor land vehicles, which have caused material damage and/or body injuries, designed to collect certain information which is indispensable to the insurance companies, and highlight certain facts objectively. This form must be filled immediately on the spot of the collision and signed by both parties.

Defesa Jurídica (Legal Defense)

The civil liability insurer may intervene in any judicial or administrative proceedings in that dispute the obligation to indemnify whose risk taken, supporting the resulting costs.

Descoberto Obrigatório (Compulsory Uncovered)

Value that the Insured cannot transfer to an Insurance Company, due to a legal provision, regulation or contract.

Denúncia (Denunciation)

Termination of temporary contract renewable for non-renewal, expiry of a given period.

Depreciação (Depreciation)

Condition of what has lost value. Decrease loss of value of a good, due to it age, use, wearing and antiquity. The depreciation can be evaluated by expert opinion or estimate.

Derrogação (Derogation)

Special statement that follows, differs, modifies or is contrary to a general statement. Certain exclusions of the insurance policies may be derogated from and be guaranteed upon payment of additional premiums.

Direito de Regresso (Right of return)

Prerogative, which the Insurer has, to recover the amount of compensation paid under the insurance policy, as a consequence of a third party liability event.

Empresa de Seguros (Insurance Company)

Entity legally authorized to underwrite risks and to subscribe, with the Policyholder, the insurance contract.

Encalhe (Aground)

Is the forced stop of a ship as a result of a collision with a sandbank, a rock, another sunken ship, or any other species of submerged obstacle.

Encargos de Fracionamento (Charges Of Fractionation)

Amount of the increase of the premium, which may be required in return for such division of the premium.

Estadia (Stay)

Is the schedule and/or expended by a ship in the harbor, to carry out the loading/unloading operations of goods, greenhouse or quarantines for sanitary reasons and regulations.

Estorno (Reimbursement of premium)

Premium refund to the Policyholder, for undue payment, cancellation or reduction of capital or guarantees.

Exclusão (Exclusion)

Clause in a contract of insurance that reduces the length of a warranty.
Event or situation that is not covered by the insurance contract.

Existências (Stocks)

Quantity of goods or objects whose value is secured in whole or in part.

Explosão (Explosion)

Sudden and violent action or pressure of the gas or steam.

Franquia (Deductible)

Value or percentage of the indemnity borne by the Insured, in case of loss.

Frete (Freight)

Is the amount paid to the charterer for the use of the vessel or aircraft for the transport of goods or any other charges.

Fundo de Pensões (Pension Fund)

Fund for which contributions are made, which constitute assets exclusively for the future payment of cash benefits, in the form of income or capital, as pre-retirement, old-age or invalidity pension, or for survival. The payment of these benefits is the result of the conditions laid down in a pension plan previously agreed between the parties.

Furto (Theft)

Subtraction of foreign thing with illegitimate intention of appropriation and without violence.

Gabinete Português da Carta Verde – GPCV (Portuguese Office Of The Green Card)

Body that works with the Associação Portuguesa de Seguradores that has, among other functions, the task of ensuring the rights of victims of road accidents that occurred in Portugal with vehicles of foreign registration. In the case of an accident occurring outside of Portugal, in an acceding country to the green card system, there are local offices (GPCV counterparts), whose contact details are on the back of the document of the Green Card, where can be formalized the claim participation/complaint.

Garantia (Warranty)

Scope of the undertaking, by the Insurance Company, in coverage of a risk.

Gestão de um contrato (A Contract Management)

Set of administrative and technical operations involved, after the subscription of an insurance contract.

Imperatividade (Imperative)

Some of the provisions of the Insurance Contract Law are mandatory, and may be: ABSOLUTELY IMPERATIVE, not being allowed to modify by agreement between Insurer and Policyholder or RELATIVELY IMPERATIVE, when modification being allowed in a more favorable sense to the Policyholder, the Insured or the Beneficiary of the insurance.

Incumprimento (Default)

Is the breach of the contract, a lack of performance or a default of an obligation is verified whenever the due performance is no longer effected in the exact terms agreed or imposed by law.

Indemnização (Indemnity)

Amount paid by an Insurance Company to repair or compensate for damage resulting from an accident covered by a policy.

Indemnização Direta ao Segurado – Convenção IDS (Direct Indemnity to the Insured -IDS Convention)

The IDS system allows, with great simplicity, that each Insured, regardless of the fault in the accident, directly contact their own Insurer to settle the claim.
The IDS Convention can quickly resolve about 80% of civil liability claims, provided that all the following conditions are met:
• Drivers correctly complete and sign the DAAA;
• The accident occurs in mainland Portugal or in the autonomous regions of the Azores or Madeira;
• The accident only results in material damages (excluded from IDS, for example, accidents involving personal injury);
• Involved only two vehicles (excluded from IDS, eg chain crash cases);
• There is a collision or collision between the two vehicles (for example, a collision with a motorway separator is excluded from the IDS);
• Vehicles are insured in two Insurers adhering to the IDS Convention (almost 100% of Insurers operating in the automobile industry and operating in Portugal);
• The value of property damage in each vehicle is lower than the limits set in the Convention.

Instrumentos De Captação De Aforro Estruturados – ICAE (Instruments Of Structured Savings - Icae)

Financial instruments that, although take the form of an original instrument already exists, have features that are not directly identifiable with the original instrument, by virtue of having associated with other instruments whose evolution depends on, total or in part, it profitability, and the investment risk assumed, even if only in part, by the Policyholder.

Líder (Leader)

Insurance Company that holds the position of leadership in the contracts entered into under coinsurance agreement.

Liderança (Leadership)

Function performed by an Insurance Company that plays, before the Insured and third parties, the lead role among the coinsurers: defining the conditions of warranty, writing the insurance policy and, later, by total or partial delegation of the other coinsurers to take over all or part of the contract management.

Lesão (Injury)

It is the disruption or impairment of a protected legal right or interest. If this disturbance is voluntarily and unlawfully carried out by a guilty party, it normally implies the obligation to compensate. If the injury results from an unlawful (or even licit) non-culpable act, there may still be an obligation to indemnify.

Lesão Corporal (Bodily Injury)

Offence affecting the physical or mental health, causing damage.

Lesão Material (Material Damage)

Offence affecting any movable property or animal, causing damage.

Malus (Malus)

Premium increase on renewal of contract, due, in particular, the occurrence of one special accident or several accidents.

Manifesto de Carga (Cargo Manifest)

Is the general statement of knowledge of cargo. In this document are declared, by the carrier, all articles that make up the cargo. In general, the endorsements listed in the policy are transcribed in the Cargo Manifest at the time of shipment.

Mediação (Intermediation)

Paid activity for the definition of the most appropriate insurance, by means of an assessment of the risks involved, advice and assistance, or consultancy only.

Mediador (Intermediary)

Person or entity that performs the activity of intermediation between the client and the Insurance Company.

Mercadoria (Merchandise)

It is all something economically sensible, that is, capable of having its value in money (broad sense). For Transportation insurance is a thing, object of trade, which is transported.

Naufrágio (Shipwreck)

Is the loss, or destruction, of the ship or craft by accident at sea, or by falling aircraft at sea.

Negligência (Negligence)

Negligence or mere blame refers, firstly, to actions that the person, predicting the unlawful result as possible, does not take the necessary precautions to avoid acting carelessly and lightly (conscious fault); on the other hand, to situations where the agent does not provide the result harmful, by reckless or negligence, although this result was predictable, if he had weighed and had been cautious (unconscious guilt).

Nota de Cobertura (Cover Note)

Document provided by or on behalf of an insurance undertaking, which notes the existence of a provisional guarantee, prior to issuing the insurance policy.

Nulidade (Nullity)

Characteristic of a legal business, be vitiated by a serious addiction, that does not produce "ab initio" the legal effects considered; the nullity operates by law, and may be judicially declared. The declared invalidity constitutes a fact that cancel the effectiveness of the contract.

Obrigatórios – Seguros (Mandatory Insurance)

Insurance imposed by law and which aim at ensuring the social protection of victims of certain risks.

Ocorrência do dano (Occurrence Of The Damage)

The efective event of damage. The occurrence can be sudden or continued and, in the latter case, requires a solution for it in the policy wording. According to the theory of injury in fact, generally agreed to interpret the concept of occurrence, this is the time or period of time (continued occurrence) in which the damage actually occurred.

Omissão (Omission)

The omission consists in the abstention of the performance of a given act or activity. The omissions are legally relevant, either when they are due or when they represent the violation of duty or obligation that imposes a positive conduct that was not performed. Illegal and culpable omissions constitute the perpetrator of the obligation to compensate the injured person for the damages he has suffered as a result of them.

Ordem Pública (Public Order)

Set of basic principles of a given legal order, based on values of morality, justice or social security, which regulate general interests considered fundamental to the community, and which inform a set of legal provisions. The rules of public interest and public order shall not be derrogable by the agreement of the parties; these are opposed by rules of particular interest and order, which are fundamentally aimed at defending the interests of individuals and which they can conventionally exclude.

P&I Clubs

Are the Protection and indemnity clubs which aim to complement normal insurance protecting vessels and their cargoes against accidents involving civil liability. There are 26 worldwide. The P&I Clubs cover: shipowners ' responsibilities for damages caused to third parties and the risk of collision to the fourth part of the value of the other ship, but nothing about the prejudice of the owner himself, in relation to the load and the damage caused to fixed objects (Pier , for example) and floating.

Pagamento de Sinistro (Claims Payment)

Payment of compensation, after regularization/settlement.

Participação (Claim Form)

Document in which the Insured informs to the Insurance Company the occurrence of a claim, indicating its causes, date, place, probable loss, etc.

Participação nos Resultados (Profit Sharing)

Contractually defined law of the Policyholder or the Insured to benefit from part of the technical and/or financial results generated by contracts of insurance or capitalization operations.

Penalização (Penalty)

Loss to the Insured of a right arising from an insurance contract; this loss generally penalizes non-compliance with an obligation with respect to the insurance undertaking; it may also penalize failure to comply with an obligation following the occurrence of a claim, such as the failure to inform a claim within the time limits laid down.

Perda Total (Total Loss)

Situation where the object insured suffers damage whose cost of repair after the accident, plus the salvage value, exceeds the market value before the accident.

Perda Total Construtiva (Constructive Total Loss)

For insurance purposes of hulls of boats is the Constructive Total loss when the cost of preservation, recovery, repair and/or reconstruction of the insurance object is greater than or equal to 75% of your value, allowing your abandonment to the Insurance Company.

Perda Total Estrutural (Total Structural Loss)

For insurance purposes is the total structural loss of a vessel, when it achieves with great difficulty, after a storm, a port or a refuge in been so pitiful that the repair price would be higher than the value of the ship after repaired; In summary, the total loss is a loss no structural repairs possible.

Perito (Surveyor)

Chosen by one or more interested parties or appointed by a judge in the event of a dispute with the mission to clarify an issue that requires certain technical knowledge.

Período de Carência (Grace Period)

Period beginning on the date of conclusion of the insurance contract or on the date of a claim and during which the guarantee of certain risks has no effect.

Período de Compensação (Compensation Period)

Period starts on the date of the accident and ends on the date of restoration or recovery of normal operating conditions of the activity.

Prescrição (Prescription)

Form of extinction of a right by its non-exercise for a given period of time fixed by law, and varies from case to case.

Prestação Não Indemnizatória ou Prestação Convencionada (Non-Indemnifying Benefit Or Covenants)

Payment due to the Insured for the occurrence of a loss covered by the insurance contract without direct relation to the losses suffered. Example: the payment of insurance capital by a personal accident coverage in the event of death of the Insured.

Prevenção (Prevention)

Appropriate set of measures that might reduce the number or severity of claims.

Primeiro Prémio (First Premium)

Premium to be paid when the policy is issued.

Principio Indemnizatório ( Principle of Indemnity)

It is linked to the non-speculative character of the insurance contract and which tells us that the Insured must be compensated for the damage he has actually suffered and that insurance can not be a source of income for the injured.

Pro Rata Temporis

Latin phrase often used on contractual language, meaning "proportional to the time". It is a method of calculation used in insurance, to determine additional premiums and chargebacks.

Processo de Sinistro (Claims Process)

Set of operations to determine compensation after an accident.

Proposta de Seguro (Proposal of Insurance)

Document by which a individual or a legal person declares it intends to subscribe an insurance contract.

Prorrogação (Extension)

The contract is not terminated, extends beyond the agreed term.

Proteção Jurídica (Legal Protection)

Specific type of insurance contract which guarantees the Insured when involved in judicial dispute, or when their interests are at stake, the cost of Attorney's fees, experts or other legal expenses.

Provisão Matemática (Mathematical Provision)

Corresponds to the estimated actuarial value of the insurance company's future commitments.

Provisão para Envelhecimento (Provision For Aging)

Provision for Health insurance, calculated according to the technique of Life insurance.

Provisão para Participação nos Resultados (Provision For Profit Sharing)

Provision including sums intended for insured persons or beneficiaries of contracts, in the form of profit sharing, provided that such amounts have not already been distributed by inclusion in the mathematical provisions.

Provisão para Sinistros (Provisions for Claims)

Provision that corresponds to the estimated total cost to regularize all the accidents in a Insurance Company portfolio that have occurred until the end of the financial year, whether reported or not, less amounts already paid in respect of these claims.

Provisões Técnicas (Technical Provisions)

Sums necessarily included in the liabilities of an insurance or reinsurance undertaking, in order to allow the full adjustment of the commitments entered into by the Company towards policyholders and beneficiaries of contracts.

Prémio Ajustável (Adjustable Premium)

Premium whose amount varies automatically according to certain elements established, specific to the particular risk covered.

Prémio Bruto (Gross Premium)

Commercial premium plus charges related to the issuance of the contract, such as fractionation charges, cost of insurance policy, adictional statements and insurance certificates.

Prémio Comercial (Commercial Premium)

Cost of the contract guarantees, plus other costs, including acquisition and contract management.

Prémio Indexado (Indexed Premium)

Premium in which amount varies automatically according to a base price or an index representative of the evolution of the value of certain goods or services.

Prémio Total (Total Premium)

The cost of the insurance. The gross premium plus tax and parafiscal charges and which corresponds to the price paid by the Policyholder to the Insurance Company for contracting insurance.

Quitação (Discharge)

Declaration signed by the beneficiary of an indemnity by which he declares himself fully compensated, releasing definitively the Insurer.

Ramo (Branch)

Professional term that designates a line of insurance business. For example: "Motor", "Health", “Life”, “Property” etc.

Relatório de Peritagem (Surveyors Report)

Technical document reflects in detail the establishment and quantification of damages resulting from a claim, where this is technically feasible. The Surveyors Report will be made available whenever requested.

Reclamação (Complaint)

Claim for compensation amicably or judicially lodged by an injured third party or its right holders to the insurance undertaking covering the person responsible for the damage.

Redução (Reduction)

In some Life Insurance contracts, the Policyholder may be able to reduce the capital or income insurance after an established minimum period.
Amendment foreseen in the Life Insurance contract for which premium is no longer due, with insurance capital reduced to an amount (REDUCTION AMOUNT) corresponding to the premiums paid and to the mathematical provision constituted.

Regra proporcional (Under Insurance and Proportional Rule)

General principle of the insurance contract whereby, in the case of underinsurance, it is solely for the insurance undertaking to pay a proportion of the loss or damage proportional to the insured amount, in comparison with the market value of the insured asset.

Regularização/Liquidação de Sinistro (Regularization/Claims settlement)

Agreement on the final amount of compensation, after a claim, between the insurance undertaking and the beneficiary.

Renovação Automática (Automatic Renewal)

Automatic extension of an insurance contract at the end of a fixed period, in the absence of a contrary expression of one of the Contracting Parties.

Rescisão (Termination)

Termination of a contract, by a unilateral decision of contractors (the same as resolution), or by the will of both.

Resgate (Redemption)

Possibility of some life Insurance Contracts the Policyholder requests, after a minimum period established, the amount of credit that has under contract.

Resolução (Resolution)

Early termination of an insurance contract, as a result of various circumstances expressly provided for it.

Responsabilidade Civil (Civil Liability)

It is said that someone incurs civil liability when it is constituted in the obligation to indemnify others for damages caused to them, that such damages results in the non-fulfillment of an obligation (liability, also called contractual liability) or violation of a non-credit subjective right or a legal rule designed to protect third parties' interests (delinquent liability), and it may also be that a person is liable to bear damages resulting from an act which is not unlawful or unintentional (objective liability, which includes liability for risk and responsibility for unlawful acts).

Ressegurador (Reinsurer)

Company that covers part of the risks of an Insurance Company through reinsurance treaties.

Ressegurar (To reinsure)

Transfer of insurance risk to a reinsurer through a reinsurance treaty.

Revalorização (Revaluation)

Increase of the insured amount or premium.

Risco (Risk)

Possibility of occurrence of a chance event, sudden, likely to run the contract guarantees.

Risco de Guerra (Risks Of War)

Are the risks arising as a result of war, declared or not, between two or more Nations. Certain maritime risk surcharges, such as route deviation, travel interruption, etc., provided that consistent nature of belligerency between Nations, are also considered as risks of war.

Roubo (Theft/Robbery)

Theft practiced with use of violence, physical or moral, against a person.

Seguro de Grupo Contributivo (Contributory Group Insurance)

Group insurance in which the insured contribute in whole or in part for the payment of the premium.

Salvado (Salvage)

Asset that keeps a certain value after the occurrence of an accident.

Segurado/Pessoa Segura (Insured/insured person)

The person, or entity, on behalf of which the contract is concluded.

Segurador (Insurer)


Segurar (To Insure)

Transfer of a risk to an insurance undertaking.
For an insurance company, it means committing to an insurance contract to be provided as expected benefits in the event of a risk occurring.

Seguro (Insurance)

Operation whereby a person (Policyholder), subject to the payment of a premium, gets the promise, within the statement defined by the law and the contract, a performance by an Insurance Company, in case of occurrence of a random event and harmful.

Seguro Ajustável (Insurance Adjustable)

Type of insurance in which the Insurance Company covers the assets belonging to the Insured with the maximum of security provided for in the insurance contract; the Insured declares the subsequent amendments to the Insured amount, giving opportunity to regularize the premium at the end of each financial year; This form of insurance is usually reserved to the risks of a certain dimension.

Seguro Automóvel (Motor Insurance)

Insurance that covers the risks of vehicle circulation.

Seguro Aéreo (Aerial Insurance)

Insurance that guarantees the risks to which the aircraft are exposed, people and goods, as well as the consequences of the civil liability of the carrier and the owner of the aircraft.

Seguro Complementar (Complementary Insurance)

Accessory operation to an insurance contract providing additional guarantees.

Seguro Doca a Doca (Dock to Dock Insurance)

Maritime insurance contract which begins with the goods placed on the pier of embarkation and ends at the landing pier, where it is unloaded.

Seguro Dotal (Term Life Insurance)

Insurance whereby the Insurance Company undertakes to pay the Insured amount at the end of the insurance contract, if the Beneficiary survive to this date. Can be performed with or without counter-insurance of premiums.

Seguro Financeiro (Financial Insurance)

Understand the Credit Insurance and the Bond Insurance.

Seguro Flutuante (Open Policy)

Open Policy is the one made by fixed amount, enough to cover several shipments that are declared as the Insured hires their transport. The amount declared in the policy decreases as they are made the boarding until exhaustion declarations, if the Insured did not return, paying the corresponding premium.

Seguro Global (Comprehensive coverage)

Insurance covering several risks with a single capital.

Seguro Individual (Individual Insurance)

Policy that covers the risks of a person. The contract may include within the household coverage a set of people who live in common economy.

Seguro Marítimo (Maritime Insurance)

Transport Insurance which guarantees the inherent risks to maritime transport.

Seguro Misto (Mixed Life Insurance)

Life Insurance whereby the Insurance Company undertakes to pay a sum determined by death of the Insured, if this occurs before the expiration of the contract, both in term of the contract if not the death of the Insured.

Seguro Multirrisco (Multi-risk Insurance)

Insurance contract containing various guarantees which could be restrained by separate insurance contracts.

Seguro Pecuário (Livestock Insurance)

Insurance that guarantees the compensation of financial loss resulting from the death or illness of certain animals.

Seguro de Acidentes Pessoais (Personal Accident Insurance)

Insurance that guarantees the payment of compensation or fixed pecuniary benefits and eventually the medical costs, as a result of an accident.

Seguro de Acidentes de Trabalho (Workers Compensation Insurance)

Insurance that guarantees the payment of compensation or benefits falling to the employee who is the victim of an accident at work or to their heirs.

Seguro de Assistência (Assistance Insurance)

The Insurer undertakes, in accordance with stipulated, to pay or provide assistance to the Insured in the case of this is in difficulties as a result of a random event.

Seguro de Avaria de Máquinas (Machinery Breakdown Insurance)

Insurance that guarantees the payment of costs of repair or replacement in case of fortuitous deterioration of machinery, when this deterioration has internal source.

Seguro de Capital Indexado (Indexed Capital Insurance)

Insurance whose capital varies automatically according to the value of a base premium or an index representative of the evolution of the value of certain goods or services.

Seguro de Cascos de Aeronaves (Aircraft hull Insurance)

This insurance guarantees the damages suffered by an aircraft.

Seguro de Cascos de Embarcações (Insurance of boats hulls)

Maritime insurance that guarantees damages suffered by a ship.

Seguro de Caução (Bond Insurance)

The Bond Insurance guarantees the good fulfillment of contractual obligations assumed by a Company before the Beneficiary of the policy.
The Bond Insurance is mainly intended for Contractors, Suppliers of Goods or Services, Importers and Exporters or to whom you have to provide a bond.

Seguro de Colheitas (Harvest Insurance)

Harvest Insurance guarantees compensation calculated on the amount of damage recorded in farming.

Seguro de Crédito (Credit insurance)

This Insurance guarantees non-payment of credit to which it is exposed the Insured lender.

Seguro de Danos Próprios (Motor Comprehensive Insurance)

Insurance that guarantees the repair or the replacement of a land vehicle after shock, collision, overturning, fire, lightning or explosion and theft.

Seguro de Frota (Fleet insurance)

Insurance that covers a set of motorized land vehicles, subscribed by the same natural or legal person.

Seguro de Grupo (Group insurance)

Insurance with a set of people connected to each other and to the Policyholder for a common link or interest other than to insure.

Seguro de Grupo não Contributivo (Non-contributory Group insurance)

Group insurance where the Policyholder contributes in full for the payment of the premium.

Seguro de Incêndio e Elementos da Natureza (Fire and Other Perils)

Insurance that guarantees the material damage suffered by the Insured as a result of a fire, or eventually by other events such as, explosion, lightning, earthquakes, floods, storms, etc..

Seguro de Perdas Pecuniárias (Loss of Profit Insurance)

Insurance which guarantees compensation in such a way that, despite material damage and consequent liabilities, the financial results of the company's operation are not affected by a fire, a breakdown of machinery or other events, such as an explosion.

Seguro de Proteção Jurídica (Legal protection insurance)

It is intended to defend an Insured Person before the courts as a result of actions brought against him/her and to assume, generally within the limits of a pre-established maximum, the costs of his defense.

Seguro de Quebra de Vidros (Glass Breakage insurance)

Insurance that guarantees replacement or refund in the event of broken glass, mirrors, porcelain or other objects of the same kind.

Seguro de Renda Vitalicia Imediata (Immediate Annuity Insurance)

Life insurance that, upon payment of a single premium, gives rise to the payment of a temporary income with immediate effect.

Seguro de Renda Vitalícia Diferida (Deferred Annuity Insurance)

Life Insurance that gives rise to the payment of a temporary income from a future date provided for in the insurance contract.

Seguro de Responsabilidade Civil (Civil Liability Insurance)

Insurance that guarantees the pecuniary consequences of the responsibility that rests with the insured, as a result of damage caused to others and caused by the Insured, for people for whom he is responsible or by animals or goods at the Policyholder guard.

Seguro de Responsabilidade Civil Automóvel (Motor Liability Insurance)

Civil Liability Insurance covering the damages caused to third parties by land motor vehicles and their trailers.

Seguro de Responsabilidade Civil por Abalroamento (Civil Liability Insurance Of Collision)

Covers the insured's liability for loss or damage, loss of profits or other damages or expenses resulting from collision with another boat and whose payment is obliged by law or regulations. Does not cover the insured cargo lives, removal of obstacles, pollution or contamination or any other right than another vessel or well on it.

Seguro de Roubo (Theft Insurance)

Insurance that guarantees the compensation of financial loss resulting from theft or attempted theft.

Seguro de Transportes (Transport Insurance)

Insurance that guarantees the risks of transporting goods by land, sea or air.

Seguro de Valor em Novo (New Value Insurance)

Insurance that guarantees the value of rebuilding or replacement the damaged goods, without it being fully taken into account the depreciation for obsolescence.

Seguro de Vida (Life Insurance)

Insurance contract that offers guarantees whose implementation depends on the length of human life.

Seguro de Vida Capital Diferido (Deferred Capital Insurance)

Life Insurance that gives rise to the payment of the insured amount at maturity of the contract if the Insured is alive at that time.

Seguro de Vida Capital de Sobrevivência (Capital Insurance of Survival)

Life Insurance whereby the Insurance Company undertakes to pay, when the death of the Insured, the insured amount to the designated Beneficiary, if this survive the first.

Seguro de Vida Inteira (Whole Life Insurance)

Life Insurance whereby the Insurance Company undertakes to pay the insured amount at the time of death of the Insured, regardless of the date on which the death occur. This insurance is can be done with lifetime premiums, a single premium or temporary premiums.

Seguro de Vida Temporário (Term Life Insurance)

Life Insurance whereby the Insurance Company undertakes to pay the insured amount when the death of the Insured, if this event occurs during the period of duration previously set out in the insurance contract.

Seguro de Vida a Termo Fixo (Fixed-term insurance)

Life Insurance whereby the Insurance Company undertakes to pay the insured amount at maturity of the contract; the obligation of payment of the premiums cease at the death of the Insured or the latest with the expiration of the contract.

Seguro em Caso de Morte (Insurance in case of death)

Life Insurance whereby the Insurance Company undertakes to pay a lump sum or a pension in the event of death of the Insured.

Seguro em Caso de Vida (Insurance in the case of life)

Insurance whereby the Insurance Company undertakes to pay a lump sum or an income, in one or several combined dates in life of an Insured.

Seguro em Conta Corrente (Current Account Insurance)

Type of insurance in which the Insurance Company gives the Insured the corresponding warranty at any time, to the current value of your stock of goods, with a "ceiling" mentioned in the contract, taking into account the fluctuations in quality and value, recorded on daily base. This form of insurance is reserved for goods under customs control.

Seguro em Primeiro Risco (First Risk insurance)

Insurance that covers a set of stocks, without application of the proportional rule, within the limit of a sum specified in the insurance contract, representing this estimated maximum damage due to a single claim.

Seguro pelo Valor Parcial (Insurance for the Partial Value)

The Insured, while declaring the full value of the object insured, only the Insurer's guarantee on a portion of that value. It is indicated for large warehouses that store important stocks for a relatively short time. In this variant, there is no room for the operation of the proportional rule.

Seguro “Universal Life” (Universal Life Insurance)

Are highly flexible Life Insurance in respect of the choice by the Policyholder of payment of premiums and the amount of capital in the event of death and supplementary insurance guarantees. This product is designed in the form of "account", in which the credit is made up of the premiums paid and the income however obtained, and debt for any partial repayments in advance, the costs, and the cost of the warranty by death if it has been signed.

Sinistro (Claim)

Event or series of events arising from a common cause which can operate the guarantees of one or more contracts of insurance.

Sobreprémio (Additional premium)

Premium supplement corresponding to the coverage of a serious risk that the normal risk or an additional guarantee.

Sobresseguro (Overinsured)

Excess of the value of the insured amount in relation to the actual value.

Subrogação (Subrogation)

Is the transmission of rights of compensation by the holder of them to the Insurer so that it may require the person responsible for the damage, the refund of the amount that the Insurer has spent.

Subseguro (Underinsurance)

Insufficient amount of the insured amount in relation to the actual value.

Suspensão (Suspension)

It is called suspension of insurance contracts the situation in which its effects are temporarily interrupted, and may resume from point.

Suspensão de Garantias (Suspension Of Guarantees)

Temporary cessation of the obligations of an insurance undertaking which relate to one or more guarantees.

Tarifa (Premium rates)

Name given to the premiums or premium rate to be applied to the handle and the set of conditions of a given insurance product.

Terceiro (Third Part)

The victim of an accident that is not party of the insurance contract but who, by virtue of this, assumes the right to be compensated.

Tomador do Seguro (Policyholder)

The person or entity, which contracted with the insurance company, being responsible for the payment of premiums.

Titular do Contrato Contract Holder

(same as Tomador do Seguro - POLICYHOLDER)

Transferência de Carteira (Portfolio Transfer)

Transfer of all or part of an insurance portfolio from one Insurance Company to another.

Tratado de Resseguro (Reinsurance Treaty)

Contract that formalizes the reinsurance operation.

Valor de Redução (Reduction Value)

Amount of capital or annuity for a Life Insurance contract after reduction. The reduction occurs generally when the Policyholder wishes to help pay a portion of the agreed premium, corresponding to reduction of premiums a reduction of the amount insured.

Valor de Resgate (Redemption value)

Maximum amount that can be awarded in case of redemption of a Life Insurance contract.

Valor de Referência (Reference value)

Depending on the value which define the sums insured at a particular time of the contract.

Valor do Salvado (Salvage value)

Value of a good or of a part of a asset salvage after an accident.

Valor Venal (Market Value)

Is the value that the asset would have on the market, if the owner intended to sell it or the business value of an asset immediately before the occurrence of the accident.

Vencimento (Renewal date)

Date on which the policy has renewal and the premium is due.
When the premium is fractionated, the Insurer distinguishes the principal renewal (usually the anniversary date of commencement of the contract) and the start date of each settlement period.