Lesson 15 Insurance(1)_2

1、Business Knowledge:(1)Definition of insurance(2)The idea of a known premium vs. the uncertainty of risk(3)The common pool and the advantages enterprises can gain from it(4)Insurance for overseas tradeA.NecessityB.FunctionA brief survey of insurance literature (文献，图书文献，图书资料资料) reveals (shows, indicat

2、e) differences of opinion concerning how the term should be defined. In whatever way the term is defined, insurance is a social device（mechanism机制）机制） in which a group of individuals transfer risk （转移（转移风向）风向） and provides for payment of losses from funds contributed by (devoted by, given by) all me

3、mbers who transferred risk. Those who transfer risk are called insureds/assured. Those who assume (承担承担) risk are called insurers/underwriter/insurance company.Insured 被保险人，保户，投保人被保险人，保户，投保人People who transfer risk to the insurance company将风险转移给保险机制的人将风险转移给保险机制的人Insurer 承保人承保人The person or company u

4、ndertaking to make payment in case of lose, etc.在保户遭受损失的情况下要偿付一定数量资在保户遭受损失的情况下要偿付一定数量资金的人或者公司金的人或者公司Insurance is a risk transfer mechanism, whereby the individual or the business enterprise can shift (transfer) some of the uncertainty (不确定性不确定性) of life onto the shoulders of others. In return for a

5、known premium(已知的保费已知的保费), usually a very small amount compared with the potential loss, the cost of that loss can be transferred to an insurer. Without insurance, there would be a great deal of uncertainty experienced by an individual or an enterprise, not only as to (about) whether a loss would oc

6、cur, but also as to what size it would be if it did occur. Enterprise: a purposeful or industrious undertaking (especially one that requires effort or boldness); an organization created for business ventures; readiness to embark on bold new venturesn. 企业；事业；进取心；事业心企业；事业；进取心；事业心enterprise management

7、企业管理企业管理business enterprise 工商企业；企业机构工商企业；企业机构private enterprise 民营企业；私营企业民营企业；私营企业enterprise culture 企业文化企业文化enterprise group 企业集团企业集团这家企业的远景极其美好。这家企业的远景极其美好。The enterprise has excellent prospects. known premium 已知保险费已知保险费Money which the insured pay to the insurance company for their goods投保人出资就所保货

8、物付给保险公司的投保人出资就所保货物付给保险公司的费用费用For example, a house-owner will realize that each year several hundred houses are damaged by fire. His uncertainty is whether in the coming year his house will be one of those damaged, and he is also uncertain whether, given that (假如假如) he will be one of the unlucky ones

9、, his loss will amount to (reach 达到达到) a hundred dollars or so for the redecoration of his kitchen or whether the house will be gutted and cost him thousands of dollars to repair. Even though the probability of his house becoming one of the loss statistics is extremely low, the average house-owner w

10、ill nevertheless select to spend, say $50 to $60 on house insurance, rather than face the extremely remote (very unlikely) possibility of losing a house worth $200 000. Redecoration n. 重新装饰；再装饰重新装饰；再装饰external redecoration 楼宇外部粉饰工程楼宇外部粉饰工程Redecoration contractor 装饰总包装饰总包Redecoration fee & Moving fee

11、 整修费与入住费整修费与入住费据称，在翻新和装修完毕后，她将在几周内搬进伦据称，在翻新和装修完毕后，她将在几周内搬进伦敦的新家。敦的新家。She is expected to move into her new home in London within weeks following refurbishment and redecoration work. 房间的重新装修花了他房间的重新装修花了他300美元。美元。The redecoration of the room costs him 300 dollars.Gut:empty completely; destroy the insid

12、e of; remove the guts of(如用火等如用火等)毁坏毁坏的内部；破坏的内部；破坏的主要力量；抽去的主要力量；抽去(书籍等的书籍等的)主要内容主要内容大火烧毁了建筑物的内部，只留下断壁残墙。大火烧毁了建筑物的内部，只留下断壁残墙。Fire gutted the building and left only the brick wall standing.俚语俚语a man with plenty of guts 很有胆识的人很有胆识的人bust a (或或ones) gut 努力努力(做某事做某事)，拼命干；担忧，拼命干；担忧buy a gut 美国口语美国口语拼命努力拼命努

13、力gut feeling 直觉直觉In the case of business enterprises, the values exposed to loss (likely to suffer loss) are usually much higher, and the premium charged (paid) is likely to be substantially (very much) higher than that for a house. Even in those circumstances the majority of (most of) firms prefer

14、to pay a known cost or premium for the transfer of risk, rather than face the uncertainty of carrying the risk of loss. Circumstance: a condition that accompanies or influences some event or activity; the set of facts or circumstances that surround a situation or event; formal ceremony about importa

15、nt occasionsn. 环境，情况；事件；境遇环境，情况；事件；境遇in the circumstances 在这种情况下；既然这样在这种情况下；既然这样under the circumstance 在这种情况下在这种情况下in no circumstances 决不决不under no circumstance 在任何情况下都不在任何情况下都不under certain circumstance adv. 在某种情况下在某种情况下在任何情况下都不要行骗。在任何情况下都不要行骗。Dont deceive under any circumstance. The insureds premi

16、um is received by the insurer into a fund or pool for that type of risk, and the claims of those suffering losses are paid out of this common pool. Because of the large number of clients in any particular fund or pool the insurance company can predict, with reasonable accuracy (precision), the amoun

17、t of claims likely to be incurred in the coming year. There will be some variation (difference) in claims costs from year to year and the premiums include a small margin (remainder剩余剩余) to build up a reserve (储备储备) upon which the company can draw（提取）（提取） in bad years. Claim 索赔索赔A sum of money demand

18、ed under an insurance agreement (for loss, damage, etc.)根据保险合同所要求得赔款（如因损失、损根据保险合同所要求得赔款（如因损失、损坏等）坏等）Client 客户客户Customers of an insurance company, shop, etc保险公司、商店等的顾客保险公司、商店等的顾客Predict: make a prediction about; tell in advance; indicate by signsvt. 预报，预言；预知预报，预言；预知vi. 作出预言；作预料，作预报作出预言；作预料，作预报谁也没有足够的

19、先见能预测哪一个获胜。谁也没有足够的先见能预测哪一个获胜。No one had enough foresight to predict the winner. Accuracy: the quality of being near to the true value; (mathematics) the number of significant figures given in a numbern. 数数 精确度，准确性精确度，准确性high accuracy 高准确度高准确度measurement accuracy 量测精度量测精度machining accuracy 加工精度；精加工精确

20、度加工精度；精加工精确度control accuracy 控制精度控制精度由于深信数据准确无误，由于深信数据准确无误， 他们坚持自己的意见。他们坚持自己的意见。Convinced of the accuracy of the data, they stuck to their opinion. Margin 保证金保证金Amount of money above what is estimated as necessary超出资金估计所需要或者所估计的那部分资超出资金估计所需要或者所估计的那部分资金金Draw 提取提取Obtain from a source, for example, ban

21、k, insurance company, etc从银行或者保险公司等地方获取某物从银行或者保险公司等地方获取某物The main stimulus (motive动机动机) to enterprise is the release of funds (腾出资金腾出资金), now available for investment in the productive side of a business, which would otherwise need to be held in easily accessible reserves（留作随时可用的储备金）（留作随时可用的储备金） if

22、the firm had not transferred the risk to an insurer. Medium and large firms would probably create reserve funds for emergencies (应急储备金应急储备金) which might put their whole future viability (surviving capability) in jeopardy（put in danger）. The premium payable (应付的保险金应付的保险金) to an insurer, however, woul

23、d only be a small proportion of the fund （reserve funds for emergencies）required because of the pooling arrangements (共同基金的设立共同基金的设立), and so most of this money could be invested in new plants, buildings or stock. Jeopardy: n. a source of danger; a possibility of incurring loss or misfortunen. 危险；（被

24、告处于被判罪或受处罚的）危险境危险；（被告处于被判罪或受处罚的）危险境地地如果发生大地震，这栋建筑物将有坍塌的危险。如果发生大地震，这栋建筑物将有坍塌的危险。This building is in jeopardy of collapsing if there is a major earthquake. proportion: balance among the parts of something; the quotient obtained when the magnitude of a part is divided by the magnitude of the wholen. 比例

25、；部分；面积；均衡比例；部分；面积；均衡in proportion 成比例；相称成比例；相称a large proportion of 一大部分一大部分direct proportion n. 正比；正比例正比；正比例out of proportion 不成比例不成比例mixing proportion 混合比，配合比例混合比，配合比例每种资源可以采取任何比例来进行分配。每种资源可以采取任何比例来进行分配。Resources can be allocated in any proportion of each other. In overseas trade the geographical

26、gaps (distance between port of shipment and port of destination) are great（地理间距大）（地理间距大）, and the transport (is) multi-modal that is to say, we must combine road, rail, sea and air in almost all cargo movements to some extent. Similarly the time lag (time between production and consumption) is great

27、(时间间隔长时间间隔长) between production and consumption. In bridging (connect or reduce the distance between) both the geographical gap and the time gap serious risks have to be run (当当跨越这些地理间距和时间间隔时要冒很大的风险）跨越这些地理间距和时间间隔时要冒很大的风险）. And it is in this framework that the insurance underwriters （保险商，承诺支付者）（保险商，承

28、诺支付者）operate to carry the risks which otherwise would have to be borne（bear负担）负担）by the producers. multi-modalmulti-modal network 多方式网络多方式网络Multi-modal imaging 多模式成像多模式成像Multi-modal logics 多模态逻辑多模态逻辑Multi-Modal Perception 多元辨识多元辨识multi-modal optimization 多模态最优化多模态最优化Multi-modal pedagogy 多模式教学法多模式教学法

29、multi-modal feature 多模特征多模特征Underwriter 保险商保险商One who decides policies of (esp. marine) insurance负责确定风险可接受性以及保险费数额的保负责确定风险可接受性以及保险费数额的保险商，尤其指的是海上保险商险商，尤其指的是海上保险商Cargo insurance is one of the main branches of insurance. These are usually listed as fire, marine, life and accident. The term “marine (in

30、surance)” used to refer to the insurance of ships and their cargoes. Today the movement of cargoes is frequently effected (carry out; done) partly by other modes of transport (运输方式运输方式). Where cargo is concerned, “transportation insurance” seems a better term to use today than marine insurance. Good

31、s do not go overseas solely (only) by sea air transport takes an increasing share of cargo these days. Similarly export cargo moves to the docks by road, rail and inland waterway (内陆水道内陆水道), while import cargo moves to the hinterland in the same way. Cargo insurance货物保险货物保险: It is an activity aimed

32、at moving the burden of risk from the shoulders of the exports and importers, and placing it upon the shoulders of specialist risk-bearing underwriters.一种旨在将风险从出口商和进口商的肩一种旨在将风险从出口商和进口商的肩上转移到专门承担风险的保险人一方的上转移到专门承担风险的保险人一方的活动活动Insurance保险保险: It is a social device in which a group of individuals transfe

33、r risk and provides for payment of losses from funds contributed by all members who transferred risk.Marine insurance海上保险海上保险: The insurance of ships and their cargoes.对船只及货物的保险对船只及货物的保险Hinterland: n. a remote and undeveloped arean. 内地；穷乡僻壤；靠港口供应的内地贸易区内地；穷乡僻壤；靠港口供应的内地贸易区他看到了中国内地女性对于品牌化妆品的需求，他看到了中国内地

34、女性对于品牌化妆品的需求，以及对于如何使用它们的建议的匮乏。以及对于如何使用它们的建议的匮乏。He spotted a demand from women in Chinas hinterland for branded cosmeticsand advice on how to use them. 由于大城市拥有的大学数量最多，其扩展将把年由于大城市拥有的大学数量最多，其扩展将把年轻人从内地吸引到大都市。轻人从内地吸引到大都市。Since the bigger cities have the most universities, their expansion will draw young

35、sters from the hinterland to the metropolis. Cargo insurance therefore is an activity (which is) aimed at moving (remove) the burden of risk from the shoulders of the exporters and importers, and placing (putting) it upon the shoulders of specialist (具有专门知识的具有专门知识的) risk-bearing underwriters. The im

36、portant point to realize about transportation insurance is that it is “the handmaiden (侍女侍女) of commerce”(serve commerce 为商业服务为商业服务). Handmaiden: in a subordinate position; a personal maid or female attendantn. 侍女；女仆（侍女；女仆（=handmaid）流行的观点是，技术是可科学的奴婢流行的观点是，技术是可科学的奴婢更更少的纯粹性，更多的商业性。少的纯粹性，更多的商业性。The pop

37、ular view is that technology is the handmaiden of science less pure, more commercial. Trade would not cease (stop) if there were no method of insurance available, but the losses would be suffered by those who were unfortunate (unlucky), and not shared out equally among all traders. By paying a premi

38、um into an insurance pool, the assured earns the right to claim compensation (索赔索赔) from the pool should he suffer loss (if he should suffer loss). He does not want to “scoop the pool” (get money from the pool - claim) he would prefer his cargoes to reach their destination safely but being insured h

39、e feels easier (安心的；无忧虑的安心的；无忧虑的) about trading: his risks are covered to some extent at least. Pool 共同款项共同款项Common fund, supply or service, provided or shared among many people由众人出资或共有的公用的基金、供应由众人出资或共有的公用的基金、供应物或者服务物或者服务Scoop: take out or up with or as if with a scoop; get the better ofvt. 掘；舀取；抢先获

40、得；搜集掘；舀取；抢先获得；搜集游客喜欢在沙滩上挖洞来自娱。游客喜欢在沙滩上挖洞来自娱。The tourist likes to scoop out some holes to amuse himself in the beach.Cover: to take an action to protect against future problems; protect by insurance v. 对对进行保险：进行保险： Insurance companies try to persuade them to cover themselves against fire.保险公司试图劝说他们保火

41、险。保险公司试图劝说他们保火险。As long as you put forward this request, wecan cover the Risk of Breakage for you.只要你提出要求，我们就为你提供破碎保险只要你提出要求，我们就为你提供破碎保险费费Answer the following questions:1.What is meant by “potential loss” in the second paragraph?A: Potential loss means a great deal of uncertainty risk.2.Without insu

42、rance what kind of uncertainty maybe experienced by an individual or an enterprise?A: Without insurance, there would be a great deal of uncertainty experienced by an individual or an enterprise, not only as to whether a loss would occur, but also as to what size it would be if it did occur.3.“There

43、will be some variation in claim costs from year to year and the premiums include a small margin to build up a reserve upon which the company can draw in bad years.” Paraphrase the above sentence and explain especially the implication of “bad years”.A: The year that the claim costs is rising.4.What a

44、re the functions of insurance?A: Insurance is a risk transfer mechanism, whereby the individual or the business enterprise can shift some of the uncertainty of life onto the shoulders of others.5.What is transportation insurance? Why is it so important?A: It is an activity aimed at moving the burden

45、 of risk from the shoulders of the exports and importers, and placing it upon the shoulders of specialist risk-bearing underwriters.Similarly the time lag is great between production and consumption. In bridging both the geographical gap and the time gap serious risks have to be run. And it is in th

46、is framework that the insurance underwriters operate to carry the risks which otherwise would have to be borne by the producers.6.Do you think it is necessary to change the term “marine insurance” in to “transportation insurance”? Why and why not?A: Yes. Goods do not go overseas solely by sea-air tr

47、ansport takes and increasing share of cargo these days.7.Why do businessmen like to pay a premium into an insurance pool even though trade did exist when there was no method of insurance available in the past?A: The premium payable to an insurer, however, would only be a small proportion of the fund

48、 required because of the pooling arrangements, and so most of this money could be invested in new plants, buildings or stock.8.Explain the underlined expression in the sentence “He does not want to scoop the pool”.A: He would prefer his cargoes to reach their destination safely.Translate the followi

49、ng sentences into English:1.保险是一种风险转移机制。通过保险个保险是一种风险转移机制。通过保险个人或企业可以将生活中一些不确定因素转人或企业可以将生活中一些不确定因素转移给其他人。移给其他人。Insurance is a risk transfer mechanism, by which the individual or the business enterprise can shift some of the uncertainty of life onto the shoulders of others.2.即使是在这种情况下，大多数公司宁即使是在这种情况下，大多数公司宁可付已知的费用即保费来转移风险，而可付已知的费用即保费来转移风险，而不愿面对不