Unit 11 insurance(4学时).ppt

1、Insurance,Cargo transport insurance,Insurance,It is customary to insure goods sold for export against the risks of the journey. In international trade, the transportation of goods from the seller to the buyer is generally over a long distance by air, by land or by sea and has to go through the proce

2、dures of loading, unloading and storing. During this process it is quite possible that the goods will encounter various kinds of risks and sometimes suffer losses. In order to protect the goods against possible loss in case of such risks, the buyer or seller before the transportation of the goods us

3、ually applies to an insurance company for insurance covering the goods in transit.,Cargo Transport Insurance,Cargo Transport Insurance,Country of origin,Country of destination,goods,Learning objectives,Terms and Logos Language Features Perils and losses Insurance Cover/Coverage Specimen letter Suppl

4、ementary study Sentence patterns,Familiarize with the Following Terms and Logos,Insurer Insured Insurance policy Insured amount Premium,logos,BACK,Familiarize with the Following Terms and Logos,is the party who insures others against loss or damage and undertakes to make payment in case of loss. For

5、 insurer, the following should be referred to Underwriter, insurance company broker,Insurer/assurer 承保人,BACK,Underwriter,Underwriter is a person who makes insurance contracts for the goods transported by sea. Insurance company is an insurer or organization that collects premiums and underwrites poli

6、cies.,BACK,broker,Broker in the western countries, the exporter, who wishes to have his goods insured, does not approach the insurer directly but instructs an insurance broker to insure on his behalf. The exporter forwards his instructions on a form supplied by the broker and gives the required deta

7、ils on the form.,BACK,Insured/assured保户,Insured is the party who is insured against loss and to whom payment covering the loss will be made.,BACK,insurance value,The is calculated as: cost of goods + amount of freight + insurance premium + a percentage of the total sum to represent a reasonable prof

8、it on sale of the goods. For CIF transactions, we usually effect insurance for 110% of the invoice value against (risks), that is to say 100% is for CIF invoice value and 10% is to cover a reasonable profit and some expenses. Sometimes, buyers may request insurances to cover more than 110%. In such

9、circumstances, the extra premium will be for buyers account.,BACK,premium,The premium charged for the insurance policy is calculated according to the risks involved. A policy which protects the holder against limited risks charges a low premium, and policy which protects against a large number of ri

10、sks charges a high premium.,BACK,Documents of Insurance,1)Insurance Policy 2)Insurance Certificate ( simplified policy without having the clauses on the back) 3)Combined Certificate ( further simplified) 4)Open Cover/Policy/Floating Policy (a pre-contract) 5)Insurance Declaration 6)Endorsement,BACK,

11、Language Features,English terms for insurance Long sentences with complex structures of modification Formal expressions,Simple Words Mean Differently,risk in transit risk of craft and/or lighter full settlement amount in force constructive total loss insurance coverage insurance against WPA cover no

12、te,运输中途险 驳运险 全额赔付 有效保险 推定全损 保险责任范围 保水渍险 承保通知书,NP (N+V-ed+ prep) Structure Verbs in past participle forms used as postpositive attributives account for the majority of the post modifiers,兵险条款之外的责任 转帐银行指定的仓库 被保险方提供的发票 信用证列出的险种 保险公司承保的危险 货船误期造成的损失 ,liabilities excluded by the war risks clauses,the ware

13、house appointed by the transfer bank,the invoice provided by the insured,the risks listed in the L/C,the perils covered by the insurer,losses caused by the delay of transport ships,Formal Expressions,Formal E terminate (终止) commence (开始) subrogate (接替) endorsement (背书) extraneous (外来的),Ordinary E en

14、d start replace agreement from outside,BACK,Perils风险 and losses损失,Goods during transportation on sea and in the course of loading and unloading might meet various kinds of perils and the goods might suffer loss of one kind or another:,Kinds of perils/risks 风险:,In marine insurance, perils are general

15、ly of two kinds: 1.Perils of Sea (1) Natural Calamities: (2) Fortuitous Accidents 2. Extraneous Risks,NEXT,RISKS,Perils of the sea,Extraneous risks,Natural calamity,Fortuitous accidents,General ,Special ,earthquake, tsunami, flood,on deck, war, failure of delivery,ship stranding, striking, collision

16、,theft, breakage, mildewing,Risks and losses,Kinds of losses 损失,Losses fall into two main classes: 1. Total Loss (1) Actual Total Loss实际全损 where vessel or cargo are totally and irretrievably lost. (2) Constructive Total Loss CTL 推定全损 in a case where the ship or the goods have been abandoned because

17、the cost of salvage or recovery would have been out of proportion to the value. 2. Partial Loss means that the loss to the goods is only partial. (1) Particular Average (2) General Average Picture,NEXT,Particular Average,If a particular cargo is damaged by any cause the damage is called particular a

18、verage and the loss must be borne by the owner of this individual consignment.,General Average,Which is of an entirely different character. If applies to a loss intentionally insured in the general interest of the ship owner and the owners of the various cargoes. This loss is borne by all concerned

19、in proportion.,Note: Average损失,In insurance , the word “average” means expenses or loss by damage of ship or cargo in the course of sea transportation due to natural calamities and accidents and extraneous risks.,LOSSES,total loss,partial loss,actual loss (实际全损),constructive loss (推定全损),Particular a

20、verage (单独海损),General average (共同海损),The whole consignment damaged,A particular consignment partially damaged,When both the ship and the consignment endangered,When actual loss unavoidable,BACK,Insurance Cover/Coverage,PICC provides three basic types of insurance cover1.Free from Particular Average

21、(F.P.A)平安险2.With Particular Average (W.P.A)水渍险3.All Risks 一切险,W.P.A,Aside from the risks covered under the F.P.A condition as above, this insurance (WPA) also covers partial losses of the insured goods caused by heavy weather, lighting, earthquake and/or flood.水渍险的责任范围除了包括上列“平安险”的各项责任外，还负责被保险货物由于恶劣气

22、候、雷电、海啸、地震、洪水等自然灾害所造成的部分损失。,All Risks,Aside from the risks covered under the F.P.A and W.A conditions as above, this insurance also covers all risks of loss or damage to the insured goods whether partial or total,arising from external causes in the course of transit. 一切险的责任范围除包括上列“平安险”和“水渍险”的所有责任外，还

23、包括货物在运输过程中，因各种外来原因所造成保险货物的损失。不论全损或部分损失，除对某些运输途耗的货物，经保险公司与被保险人双约定在保险单上载明的免赔率外，保险公司都给予赔偿。,Insurance Covers of Additional Extra Risks,Risks that are not covered under the basic insurance covers F.P.A. and W.P.A. mentioned above may be insured against under separate declaration by the insured.The risks

24、may be general extra risks 一般附加险special extra risks 特殊附加险,General Extra Risks一般附加险,1)T.P.N.D. Theft, Pilferage and Non-Delivery偷窃，提货不着险 2)Fresh Water and Rain Damage Fresh and/or Rain Water Damage淡水雨淋险 3)Risk of Shortage短量险 4)Risk of Intermixture and Contamination Risks混杂、玷污险5)Risk of Leakage渗漏险 6)R

25、isk of Clash and Breakage碰损、破碎险7)Risk of Odor串味险,General Extra Risks,8)Damage Caused by Sweating and Heating受潮受热险 9)Hook Damage受潮受热险 10)Loss for Damage Caused by Breakage of Packing包装破裂险 11) Risk of Rust锈损险,Special Extra Risks are:特殊附加险,1)Failure to Delivery Risk交货不到险 2)Import Duty Risk进口关税险 3)On De

26、sk Risk舱面险 4)Rejection Risk拒收险 5)Aflatoxin Risk黄曲霉素险 6)Ocean Marine Cargo War Risks海运战争险 7)Strikes, Riots and Civil Commotions Risks.罢工暴动及民变险,Insurance,Continue,(T- abbreviation for transportation),Other Forms of Insurance,I.C.C. (Jan.1, 1982)伦敦学会条款,I.C.C. A I.C.C. B I.C.C. C Institute War Clauses-C

27、argo Institute Strikes Clauses - Cargo Malicious Damage Clauses,Formalities in Export Insurance Practice,Insurance settlement before shipment is made,Conformity,The insurance policy L/C Sales contract,Conformity,Import Insurance Practice,Chinese importers conclude sales under FOB/ CFR terms,Importer

28、s come to the insurer for insurance on receiving the shipment notice,Importers pay the premium and get the policy,The insurance will have been effected,Once goods are found damaged,Importers notify insurers/agents and get the cargo damage/loss report.,The insured should * produce a cargo survey repo

29、rt together with the insurer. * take measures to minimize the damages/losses. * launch claims against the third party who is responsible for the damage/loss.,Summary,Cargo transportation insurance falls into the category of property insurance. There are basically four principles that shall be sought

30、 after in such insurance. Cargo transportation insurance can be classified into marine cargo insurance, overland transportation insurance, air transportation cargo insurance and parcel post insurance. Importers and exporters have to arrange insurance on their goods against different risks for their

31、own interest.,Four principles,Insurance is a contract of indemnity The doctrine of Insurable interest The concept of actual cash value The other insurance (known as a pro rata clause) Subrogation,Specimen letter1 Asking for insurance arrangement,September 7, 2008 Dear Sirs, Re: Insurance on Mushroom

32、 We wish to refer you to our Order No.100 on 20 M/Ts mushroom from which you can see that this order is placed on a FOB basis. As we desire to effect insurance at your end, we shall be pleased if you cover the above consignment on our behalf against All Risks for 110% invoice value, i.e. USD39,600.

33、We shall of course refund the premium to you upon receipt of your debit note or, if you like, you may draw on us at sight for the same. We sincerely hope that our request will meet your approval. Sincerely yours,cover,Vt a) protect by insurance对进行保险 1. We shall cover All Risks for you. 2. In general

34、, insurance is to be covered by the sellers for 110% of the invoice value. 3. We wish to cover the goods against All Risks. 4. Insurance is to be covered by the buyers. 5. This insurance policy has covered us against All Risks and War Risk. b) be sufficient to meet, defray, or offset the charge or c

35、ostof 负担支付；够付(费用) 1. This wont even cover my bills. c) deal with 包括，涉及，论及 1. This leaflet covers what weve just discussed in more detail.,Cover n.,cover n. =insurance cover 1. We have arranged the necessary insurance cover. 2. Does your policy provide adequate cover against breakage? coverage n. 保险，

36、承保险别，保险范围（包括险别，保值，保险起讫地等） 1. What type of coverage do you usually underwrite? 2. If the business is concluded on CIF terms, what coverage will you take out？,premium,premium n. payment for insurance保险费 1. The insurance premium is for the buyers account. premium rate 保险费率，其它译法有：insurance rate, policy

37、rate premium n. An unusual or high value: 1. Employers put a premium on honesty and hard work. 雇主们很重视诚实和勤奋的工作 adj. Of superior quality or value: premium gasoline. 质优价高的汽油 at a premium=More valuable than usual, as from scarcity: Fresh water was at a premium after the reservoir was contaminated. 在水库被污

38、染之后，清水便因稀而贵了,debit note,debit note: 借项通知单；支帐通知书 1. We will refund you the premium upon receipt of your sight draft or debit note for it. credit note: 贷项通知单, 收款通知单,Replying letter,September 14, 2008 Dear Sirs, Re: Insurance on Mushroom In reply to your letter dated Sep.7 , we are pleased to tell you

39、that we have effected insurance on the goods under Order No.100 with the Peoples Insurance Company of China against All Risks for 110% invoice value, i.e. USD39,600. This policy is being prepared accordingly and will be forwarded to you later together with the draft drawn on you for the premium. Sin

40、cerely yours,effected insurance,Other similar phrases to cover insurance to arrange insurance To take out insurance To provide insurance More phrases effect payment effect shipment,insurance n. 保险,insurance agent 保险代理人 insurance amount 保险金额 insurance policy 保险单 insurance certificate 保险凭证 insurance c

41、ompany 保险公司 insurance coverage 保险范围,insurance 后接介词的一般用法,表示所保的货物，后接on,-insurance on the 200 metric tons of walnut meats 表示投保的险别，后接against, - insurance against war risk 表示保额，后接for, - insurance for 110% of the invoice value 表示保险费或保险费率，后接at, -insurance at a slightly higher premium, insurance at the rate

42、 of 5% 表示向保险公司投保，后接with, -insurance with the Peoples Insurance Company of China. We have covered insurance on the 100 metric tons of walnut for 110% of the invoice value against all risks with the Peoples Insurance Company of China.,Draft,draft ( = bill of exchange) n. 汇票 honor ( or: protect/ meet/

43、take up/ pay ) a draft 承兑汇票 （ 照付） Your draft will be honored on presentation. Please protect our draft on presentation. 2.dishonor (or: refuse/ decline ) a draft 拒付 （ 汇票） We have just been advised by the bank that our Draft No. 110 was dishonored. The draft has been refused.,More on draft,3. 其它搭配 Th

44、e draft was discounted in London. Please amend the L/C; otherwise we cannot negotiate our draft. The draft has not been collected. 4. 常用有关术语 demand draft (D/D) 票汇 clean draft / documentary draft draft at sight / sight draft/ 即期汇票 time draft / usance draft 远期汇票 draft at 30 days sight 三十天期汇票,Instructi

45、ons about insurance,June 25, 2008 Dear Sirs, Re: Insurance on Order No.1004 for glassware Thank you for your letter dated June 22 enquiring about the insurance on Order No.1004. As this transaction was concluded on the basis of CIF, we would like to effect insurance at your end. About the coverage a

46、nd insured value, We would like to insure against WPA and Breakage for 120% of the invoice value, i.e. USD36,000. I hope this will meet your approval. Yours truly,insure,vt. take out insurance for1.保险；投保 Please insure the goods against breakage. We have insured the shipment F.P.A. and against War Ri

47、sk. We have insured at (or for)110% of the invoice value. 2.为保险 Please insure us on the following goods. Every company insures itself against loss or damage to its property.,ensure,3. (= ensure) 保证；担保 Your help insured us the success of our business. Carefulness will insure you against further error

48、s in packing.,Reply to letter(3),June 27, 2008 Dear Sirs, Re: Insurance on Order No.1004 for glassware In answer to your letter of June 25 regarding the insurance on the subject goods, we would like to inform you of the following: Coverage: Generally we would like to cover insurance FPA in the absen

49、ce of definite instructions from our clients. Since you desire to cover WPA, we shall be pleased to comply, but you have to bear the difference in premium. Breakage: Breakage is a special risk, for which an extra premium will have to be charged. The present rate is 0.08%. Claims are payable only for

50、 that part of the loss, that is over 5%.,P2,Value to be insured: We note that you wish us to cover the shipments for 120% of the invoice value, which is different from our usual practice 110%. I would like to arrange insurance as what you said, but the extra premium will be for your account. We trus

51、t the above information will serve your purpose and we await your further news. Yours truly,for your account,for ones account= for account sb of 由支付 The demurrage is for account of the exporter. 滞期费由出口商支付。 We bought the goods for our own account. 这货物是我们自己付费购买的。 The extra freight is to be for the buy

52、ers account.,Dear Sirs, In reply to your letter of November 13 enquiring about the insurance on our CIF offer for Traveling Scissors made to you on the 20 October, we wish to give you the following information: For transactions concluded on CIF basis, we usually effect insurance with PICC against Al

53、l Risks, as per Ocean Marine Cargo Clauses of PICC dated the 1 January, 1981. Should you require the insurance to be covered as per Institute Cargo Clauses (ICC) we would be glad to comply but if there is any difference in premium between the two it will be charged to your account.,P2,We are also in

54、 a position to insure the shipment against any additional risks if you do desire, and the extra premium is to be borne by you. In this case, we shall send you the premium receipt issued by the relative underwriter. Usually, the amount insured is 110% of the total invoice value. However, if a higher

55、percentage is required, we may do accordingly but you have to bear the extra premium as well. We hope our above information will provide you with all the information you wish to know and we are now looking forward to receiving your order. Yours faithfully,B,Dear Sirs, Answering your letter of August

56、 10 in regard to insurance, we would like to inform you of the following: ALL Risks: Generally we cover insurance WPA & War Risk in the absence of definite instructions from our clients. If you desire to cover All Risks, we can provide such coverage at a slightly higher premium Breakage: Breakage is

57、 a special risk, for which an extra premium will have to be charged. The present rate is about %. Claims are payable only for that part of the loss, that is over 5%. Value to be insured: We note that you wish us to insure shipment to you for 10% above invoice value, which is having our due attention

58、. We trust the above information will serve your purpose and await your further news. Yours faithfully,Writing guideline The steps and expressions of an insurance letter,The steps and expressions of writing a reply to an insurance letter,Attention,Generally speaking, the following information should

59、 be clearly in a letter covering insurance, such as subject matter, insurance coverage, insurance amount, insurance premium, insurance rate, the insurer, etc.,Franchise绝对免赔率,In international trade, a provision in a marine cargo policy that partial losses can be adjusted if the loss exceeds a certain percentage of the total value of the shipment.take a franchise deal 做代理商,Deductible相对免赔率,Common: If the loss can not exceed the franchise, no loss will be made for compen