Unit 8 新时代行业英语系列教材——运输与物流英语 .pptx
Unit 8 Insurance Upon completion of the unit,students will be able to:Upon completion of the unit,students will be able to:understand the significance of insurance in transport;understand the significance of insurance in transport;master the words and expressions related to insurance;master the words and expressions related to insurance;recognise different categories of marine and business recognise different categories of marine and businessinsurance.insurance.4a claimFirst Class MoversChinaon the 11th of October601 ACK5Insurance Insurance is the way in which people and businesses protect themselves against risks.In the UK and many other countries,some kinds of insurance are compulsory for individuals,like motor insurance for driving a car or buildings insurance if you have a mortgage on your home.Other kinds of insurance,such as protection against theft,accident or illness,are optional.Similarly,for business there are compulsory and optional insurances.Compulsory insurances are employers liability insurance and motor insurance,while optional ones include protection against theft,damages,fire,etc.The insurance policy has to be renewed periodically,normally every year.If a policyholder makes a valid claim,the insurer will pay out the amount of compensation agreed.61 T 2 T 3 F 4 F 5 DS 6 T 78Focus on marine insurance Marine insurance is one of the oldest forms of insurance.Exporters and importers doing international business need to organise their own marine insurance against the risks of loss or damage to their goods in transit.There are many different policies,with varying conditions and exclusions,but the principal forms are:9voyage policy is an insurance cover for one particular voyage;time policy is valid for a specified time period;valued policy is the one where the value of the cargo and consignment is indicated,so the amount of any compensation is known in advance;unvalued policy is the one where the value of the cargo and consignment are not indicated,so the amount of compensation will be agreed after;floating policy is the one where a total insured amount is specified and the details of the ship,voyage,etc.are declared at the moment of departure.This is the most common open policy for frequent shipments.10Business insurance As mentioned previously,there are two types of compulsoryinsurance for businesses in the UK:Employers liability insurance.This insures all companyemployees against injury,disease or death as a result of their employment,workplace conditions or practices.Motor insurance.This is compulsory if the company owns and operates any kind of vehicle on public roads.However,no modern business would operate solely with compulsory insurance.If something went wronga fire in a production plant,the theft of goods,injury to a customerit would cost the company a great deal of money and it could even force them out of business.Therefore it is normal to take out insurance policies to cover further risks and liabilities.The different kinds of business insurance can be divided into three main areas:1112Key131 Employers liability insurance and motor insurance are compulsory for businesses.2 They can be insured for theft and breakdown.3 Yes,it is.A money policy covers cash and cheques.4 Trade credit insurance is protection against bad debts due to default or insolvency of a client.5 A company has a lot of responsibilities towards the public and customers so this insurance protects them from paying large amounts if someone is injured or dies,or their property is damaged,due to their business activities or products.6 Personal accident and sickness,as it will guarantee an income while you cant work.14Focus on Lloyds The story of Lloyds began in a small coffee house in the City of London in 1688.Edward Lloyds coffee house was a favourite meeting place for ships captains,merchants and shipowners and it had a reputation for trustworthy shipping news.Then,as Londons importance as a trade centre grew,it became recognised as the place for obtaining marine insurance.From those modest beginnings,Lloyds has been a pioneer in insurance and has grown over 300 years to become the worlds leading insurance market.Lloyds,in fact,is not an insurance company which directly sells insurance,but an insurance market where its members can meet potential clients and join together as syndicates to insure risk.15The risks Lloyds covers can be grouped into 7 main categories:casualty,property,marine,energy,motor,aviation and reinsurance.Reinsurance is when an insurance company,in order to lower itsown risks and potential financial losses,transfers part of its portfolio of risks to other parties.Lloyds is made by the Market and the Corporation of Lloyds.The Market structure encourages innovation,speed and better value,making it attractive to policyholders and participants alike.The Corporation oversees and supports the Market and promotes Lloyds around the world.16 17Sample Answer18 Lloyds and the San Francisco earthquake,1906.At 5.13 a.m.on 18th April 1906,San Francisco,the seventh largest city in the US,was struck by a massive earthquake,measuring 8.25 on the Richter scale.Fires broke out and lasted three days,killing several thousand people and leaving half of the population homeless.The 1906 earthquake is important in the history of Lloyds because it had a profound effect on the insurance industry of today.During this era,governments were not expected to supply relief funds,so losses were paid for by the insurance industry.At Lloyds,one of the leading underwriters at the time of the San Francisco earthquake,Cuthbert Heath,faced an enormous bill,but he honoured it and instructed his San Franciscan agent to pay all policyholders in full.The earthquake cost Lloyds over$50m,a sum equivalent to more than$1bn today.Heaths attitude over the San Francisco claims was rewarded,to the benefit of the London insurance market.His actions had highlighted Lloyds excellent reputation for paying valid claims,a reputation that still stands today.Until the 1906 earthquake,the placement of insurance risks overseas was viewed with distrust,but now Heath had succeeded in cementing Lloyds position in the US market,so business boomed and other markets followed.There are now sophisticated building and risk practices in place that help protect against the effects of natural disasters.Although earthquake risk is still excluded from standard homeowners or business insurance policies in the US,fire resulting from an earthquake has been included in the majority of policies since 1906.19
