商務(wù)英語閱讀-unit-9-保險課件

1、 Unit Nine Teaching Objectives了解保險的定義和主要分類了解中國保險業(yè)現(xiàn)狀掌握有關(guān)保險的術(shù)語Teaching Emphasesinsurance policypremiuminsurance coverageinsurable interestsubject matterContent Text Fast Reading IFast Reading II TEXT General Introduction to Insurance Pre-reading questions1. How is insurance related to each individual?

2、2. What is the status quo of insurance industry in China?UPPREV.NEXT Insurance is defined as a promise of compensation for specific potential future losses in exchange for a periodic payment. The goal of insurance is to protect the financial well-being of an individual, company or other entity in th

3、e case of unexpected loss from death, accidents, sicknesses, damage to property, and injury caused to others. .The insured and the insurer create a contract by agreeing to the terms of an insurance policy. This contract is called a policy and the purchaser of the insurance is called a policy holder,

4、 also called the owner of the insurance policy. Insurance premium is a sum of money ascertained according to the value of the property insured and the scope of the insurance coverage desired. In exchange for payments from the insured, the insurer agrees to pay the policy holder a sum of money upon t

5、he occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Coverage is another word for insurance. Insurers use the term coverage to mean either the currency amounts of insurance purchased (e.g. $20, 000 of liabil

6、ity coverage) or the type of loss covered (e.g. coverage of theft). One important point is that the client must have an insurable interest. An insurance contract is legally binding only if the insured has an interest in the subject matter of the insurance and this interest is in fact insurable. In m

7、ost cases, an insurable interest exists only if the insured would suffer a financial loss in the event of damage to, or destruction of, the subject matter of the insurance. The insurance industry is comprised of various types of organizations ranging from relatively small regional companies to giant

8、 international financial powerhouses. Most insurance is provided by corporations. They may be privately owned, part of large organizations, or publicly traded on national stock exchanges. Some are owned by policyholders themselves. Others are owned by government. In recent years, many commercial ban

9、ks have set up their own insurance companies in order to participate in this growing business. Types of InsuranceDespite offering innumerable options and immense scope, insurance can be generally classified into the following ones: Life insurancemoney paid in the event of the death of the insured.He

10、alth insurance - money paid for doctors, medications, hospital care in case the insured becomes sick or injured. Accident insurance- money paid in the event the insured loses one or more body parts or killed in an accident.Property insurance- money paid in the event that property is lost, damaged or

11、 stolen.Liability insurance-money paid in the event that the insured case damage to someone elses person or property. Functions of insuranceThe primary function of insurance is to spread the financial loss of insured members over the whole of the insuring community by compensating the unfortunate fe

12、w from the pool formed by the contributions of all members. It has two fundamental characteristics: transfer of risk from the individual to the group and sharing of losses on some equitable basis. Insurance assesses risks and provide certainty of risks. By evaluating various factors that gives rise

13、to risk, insurance determines the probable volume of risk, enabling risk to be managed more efficiently and encouraging loss mitigation. Insurance helps prevention of losses. For example, it cautions individuals and businessmen to adopt suitable device to prevent unfortunate consequences of risk by

14、observing safety instructions, installation of automatic sparkler or alarm systems, etc. Insurance contributes towards the development of larger industries. In other words, insurance provides development opportunity to those larger industries having more risks in their setting up. Even if some indus

15、trial units have some problems but they have insured their assets including plant and machinery, the financial institutions may be prepared to give credit to them. Insurance is an international business. It can be regarded as a source of earning foreign exchange. For example, the country can earn fo

16、reign exchange by way of issue of marine insurance policies and various other ways. Meanwhile, different types of policies under marine insurance cover promote risk-free foreign trade. . The Status Quo of Chinas Insurance Industry Along with the rapid growth of economy, Chinas insurance industry and

17、 the concerned policies are also experiencing a fast development. Since Chinas insurance industry was resumed in 1980, more and more insurance agencies, independent regulatory mechanism and organizations have gradually emerged in the market, and the service scope has also been greatly extended.There

18、 were only 31 insurance companies in China at the end of 2000. By the end of 2019, there are 93 insurance corporations altogether, among which six were insurance groups and 82 were insurance companies (including 40 foreign insurance companies and 5 insurance asset management companies). The national

19、 premium income had reached RMB 492.734 billion, (RMB 34.1 billion was from foreign insurance companies, accounting for 6.9%), up 13.95% over the year of 2019, and 3.09 times of the amount of 2000. However, we should also note that Chinas insurance industry is still at the initial stage. It only acc

20、ounts for a small proportion of the national economy. The unbalanced development of economy caused the difference in the development of insurance industry in different areas. For instance, in Guangdong and Shanghai, the insurance market is abundant in both demand and supply, which is far more prospe

21、rous than that of Central and Western China. More importantly, regulation of the insurance industry has not been able to keep pace with the rapid growth of Chinese insurance market and new products in the current market-driven economy. Language points policy- n. a written contract or certificate of

22、insurance. 保險單，保險契約：一張書面的保險契約或證明e.g. insurance policy保險單 policy holder保單持有人- n. a plan or course of action, as of a government, political party, or business, intended to influence and determine decisions, actions, and other matters: 政策：一個計劃或行動路線，如政府、政黨或企業(yè)的計劃或行動路線，意在影響和確定決定、行動和其它事情e.g. American forei

23、gn policy 美國的對外政策UPPREV.NEXTLanguage points Premium -n. the amount paid or payable, often in installments, for an insurance policy. 保險金：為保險單而通常分期支付的錢-n. a prize or an award. 獎品或獎賞UPPREV.NEXT Language points deductible-adj. That can be deducted, especially with respect to income taxes: 可減免的：可扣除的，尤指收入

24、所得稅可減免的： e.g. deductible expenses.可減免的花費(fèi)- n. a clause in an insurance policy that exempts the insurer from paying an initial specified amount in the event that the insured sustains a loss. 扣除條款：保險單內(nèi)的條款之一，免除保險人對被保險戶承受的損失賠償最初的規(guī)定的金額UPPREV.NEXTLanguage points coverage-n. the extent or degree to which so

25、mething is observed, analyzed, and reported 范圍：觀察、分析和報道某事物的范圍或程度：e.g. complete news coverage of the election. 關(guān)于選舉的全部新聞報道- n. inclusion in an insurance policy or protective plan. 保險項目：某一保險單或擔(dān)保方案所包含的內(nèi)容-n. the extent of protection afforded by an insurance policy. 保險范圍：保險單內(nèi)所提供的承保范圍UPPREV.NEXTLanguage p

26、oints interest-n. regard for ones own benefit or advantage; self-interest 利益：對自身的好處或利益的考慮；私利：e.g. It is in your best interest to cooperate. She kept her own interests in mind. 合作對你最有利。她心存私欲 insurable interest 可保利益-n. a right, claim, or legal share: 權(quán)益，利潤：權(quán)利、質(zhì)權(quán)或股權(quán)：e.g. an interest in the new company.

27、 這家新公司的利潤UPPREV.NEXTLanguage points subject matter Language points subject matter -n. matter under consideration in a written work or speech; a theme. 題目;著作或演講中的探討的問題;主題；標(biāo)的物UPPREV.NEXTLanguage points mitigation - n. to act in such a way as to cause an offense to seem less serious 緩解，減輕 It is used in

28、 emergency and disaster management, and basically means if you cant prevent something bad from happening you can a least lessen the severity of it.e.g. Mitigation is the cornerstone of emergency management. 減少損失是突發(fā)事件管理的基礎(chǔ)。UPPREV.NEXTLanguage points caution-v. to advise to take heed; warn or admonish

29、 警告，勸告：建議多加小心；警告或訓(xùn)誡e.g. The doctor cautioned me not to take too much fat in my diet. 醫(yī)生警告我飲食中不要過多攝取脂肪。UPPREV.NEXTLanguage points issue-n. the act of circulating, distributing, or publishing by an office or official group: 發(fā)行，印行：某部或官方組織進(jìn)行流通、分配或印刷出版的行為e.g. government issue of new bonds. 政府發(fā)行的新公債- v. t

30、o circulate or distribute in an official capacity: 流通，發(fā)出：通過政府機(jī)關(guān)流通或分配：e.g. issued uniforms to the players. 給演員發(fā)制服- v. to publish 出版e.g. issued periodic statements. 出版定期聲明書UPPREV.NEXTLanguage points status quo the existing condition or state of affairs. 現(xiàn)狀, 現(xiàn)存情況或事態(tài)UPPREV.NEXTLanguage points keep pace

31、with -v. phrase 并駕齊驅(qū)，趕上e.g. We must work hard to keep pace with the development of technology. 我們必須刻苦學(xué)習(xí)，才能跟上技術(shù)發(fā)展的步伐。UPPREV.NEXTLanguage points market-driven economy -n. phrase 市場經(jīng)濟(jì)e.g. China should take quicker steps to move toward a market-driven economy by 2020.中國應(yīng)加快步伐，在2020年邁向市場型經(jīng)濟(jì)。UPPREV.NEXTI.

32、Answer the following questions based on the text.1. What is the goal of insurance? The goal of insurance is to protect the financial well-being of an individual, company or other entity in the case of unexpected loss from death, accidents, sicknesses, damage to property, and injury caused to others

33、. ReferenceI. Answer the following questions based on the text.2. What is insurance policy?It is the contract between the insurer and the insured. ReferenceI. Answer the following questions based on the text.3. What is the meaning of insurance interest? It means the insured has an interest in the su

34、bject matter of the insurance and this interest is in fact insurable.ReferenceI. Answer the following questions based on the text.4. How many types can insurance be classified into? It can be generally classified into life insurance, health insurance, accident insurance, property insurance ,liabilit

35、y insurance, and etc. ReferenceI. Answer the following questions based on the text.5. What are the major functions of insurance? The primary function of insurance is to spread the financial loss of insured members over the whole of the insuring community by compensating the unfortunate few from the

36、pool formed by the contributions of all members. Insurance assesses risks and provide certainty of risks, helps prevention of losses, contributes towards the development of larger industries and is also a source of earning foreign exchange.ReferenceII. Read the following terms and match each with it

37、s proper definition.1. insurance policy 2. coverage 3. liability 4. Premium5.agency6. mitigation7. goodwill8. Device9. Issue10. compensation a. a contract of insurance, describing the term, coverage, premiums and deductibles.b. bring out an official document c. representation d. the act of lessening

38、 in severity e. the scope of the protection provided under a contract of insurance.f. instrument invented for particular purposes g. payment for insuranceh. something given or received as reparation i. an intangible assets valued according to the reputation of a business j. a legal responsibility, o

39、bligation, or debt 1. a 2.e 3. j 4. g 5. c 6. d 7. i 8. f 9. b 10. h III. Translate the following passage into Chinese Insurance premium is a sum of money ascertained according to the value of the property insured and the scope of the insurance coverage desired. In exchange for payments from the ins

40、ured, the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Coverage is another word for insurance. Insurers use the term coverage to mean eith

41、er the currency amounts of insurance purchased (eg. $20, 000 of liability coverage) or the type of loss covered (coverage of theft). 保險費(fèi)是根據(jù)被保險財產(chǎn)的價值和需要保障的范圍而確定的一定數(shù)目的費(fèi)用。作為對被保險人所交的保險費(fèi)的交換，保險人同意在發(fā)生特定事件的時候，向保單持有人支付一筆錢。大多數(shù)情況下，保單持有人承擔(dān)部分損失（稱作自負(fù)額），保險人支付剩余額。保險險別/保險總額是保險的另外說法。這個術(shù)語可以指所買保險的全額（比如，2萬美元的責(zé)任險），也可以指所保的

42、險別（如偷盜險）。 ReferenceIV. Put the following sentences into English 1. 如果你想購買某種健康保險的話，你必須先了解一下情況。2. 最近的金融危機(jī)導(dǎo)致保險業(yè)損失慘重。3氣候變化將會增加英國洪水的泛濫幾率，進(jìn)而會導(dǎo)致保險費(fèi)迅猛增長。4. 現(xiàn)代社會，選擇適當(dāng)?shù)钠嚤ｋU比以往任何時候都重要。5. 理查德在保險業(yè)已從業(yè)28年，在能源領(lǐng)域方面經(jīng)驗豐富。1. If you are thinking of getting a Health Insurance, you have to get a little information at firs

43、t.2. The recent financial crisis has resulted in large losses for the insurance industry.3. Climate change will increase the risk of flooding in the UK, which could lead to dramatic rises in insurance premiums.4. In the modern world, proper auto insurance is more important than ever.5. Richard has b

44、een in the insurance industry for 28 years with extensive experience in the Energy field.ReferenceFast Reading I China mulls insurance market easing for foreign firmsUPPREV.NEXT Chinas insurance regulator is considering opening the market for compulsory automobile insurance to foreign firms, said th

45、ree people with knowledge of the matter. The China Insurance Regulatory Commission (CIRC) may allow foreign firms to offer mandatory liability insurance, said the people, who declined to be identified because the decision isnt final. Foreign insurers, which can now only offer some optional car insur

46、ance products, are losing out to local firms as drivers tend to choose the same company for both non-compulsory and mandatory coverage. Easing the rules would allow overseas insurers including American Insurance Group Inc to boost their business in the worlds biggest car market, and increase their s

47、hare from 4 percent of the $164 billion insurance market six years after it was opened under World Trade Organization commitments. Auto insurance generates more than 70 percent of revenue for PICC Property & Casualty Co, Chinas biggest non-life insurer. The government is no longer worried about fore

48、ign companies dominating Chinas insurance market, said Tuo Guozhu, a professor with Beijing-based Capital University of Economics and Business. The proposed relaxations reflect their confidence in the nations own insurance industry. Foreign banks including Citigroup Inc have also trailed Chinese riv

49、als, whose strong ties with local clients and nationwide networks helped defend their dominance. Banks Languish Overseas lenders share of Chinas banking market by assets slid to 1.71 percent last year from 2019s 1.84 percent, according to China Banking Regulatory Commissions 2009 annual report. That

50、s even as their total assets more than doubled and the number of operational entities rose 80 percent to 338. China lifted geographical and most business limitations on foreign insurers in 2019 to comply with WTO commitments made upon its entry into the global trading group. Fifty-two overseas insur

51、ers have set up local operations, the CIRC said in December, almost tripling from 18 before the nation became a member of the WTO on Dec 11, 2019. Foreign insurers market share has risen by less than 2 percentage points from 2.3 percent in 2019. China Life more than quadrupled revenue from 2019 to 2

52、009 in a market thats expanded an average 30 percent a year during the past three decades. Foreigners Trapped Only three out of 24 foreign life insurers made a profit in 2019, according to the 2009 Yearbook of Chinas Insurance compiled by the regulator. Money losers included Allianz China Life Insur

53、ance Co, whose loss more than doubled from 2019 to 483 million yuan ($71.3 million). Some foreign insurers are retreating: Canadas Sun Life Financial Inc on July 20 won regulatory approval to cut its stake in an eight-year-old venture to below 25 percent, which designates it as a local insurer. Sun

54、Life Everbright Life Insurance Co, now a Chinese company after the Canadian firm sold half of its 50 percent stake to two local investors, lost 243 million yuan in 2019. Foreign insurers are struggling due to a joint-venture requirement on life insurance, unequal treatment, and stricter regulations

55、and solvency rules following the financial crisis, PricewaterhouseCoopers LLP said in a September report after a survey of 29 foreign companies including AIG.I. Determine whether the following statements are True or False according to the text. Write “T” for true and “F” for false in the brackets.1.

56、 ( ) CIRC is considering opening the market for optional automobile insurance to foreign firms2. ( ) Auto insurance generates more than 70 percent of revenue for PICC Property & Casualty Co3. ( ) The government still worried about foreign companies dominating Chinas insurance market.4. ( ) Sun Life

57、Everbright Life Insurance Co is now a Chinese company.5. ( ) About one third of the foreign life insurers made a profit in 20191.F 2.T 3.F 4.T 5.FII. Choose the best answer to complete each of the sentences.1. . Foreign insurers can now only offer some _ products. A. optional car insurance B. compul

58、sory car insurance C. automobile insurance D. life insurance II. Choose the best answer to complete each of the sentences.2. _ generates more than 70 percent of revenue for PICC Property & Casualty Co. A. Life insurance B. Health insurance C. Auto insurance D. Accident insurance II. Choose the best

59、answer to complete each of the sentences.3. China Life more than _ revenue from 2019 to 2009. A. doubled B. quadrupled C. tripled D. quintupledII. Choose the best answer to complete each of the sentences.4. Foreign insurers are struggling in China due to the following restrictions EXCEPT _ A. a join

60、t-venture requirement on life insurance B. unequal treatment C. stricter regulations and solvency rules D. financial crisis II. Choose the best answer to complete each of the sentences.5. It is estimated that easing the rules would allow overseas insurers to _ their business. A. boost B.loose C.keep