Unit Seven Insurance Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 10 Unit 9 Unit 8 Unit 7 Unit 6

Negotiation Insurance is widely available and affordable. With the expansion of international trade, insurance is playing a more and more important role. Different goods have different natures and will be covered against different risks. Only in this way can the exporter and the importer minimize the possible losses or damage that they may suffer. Insurance allows traders to proceed with confidence in the knowledge that each party to the transaction is properly protected. Lead-in Text A Text B Real Life Practice Practical Writing

Lead-in ListeningSpot Dictation 1. Listening Tim is talking about the insurance of a product order. Listen to the dialogue and choose the best answer to each question. 1. Judd insisted on insuring the goods for ________ above the invoice value. A. 10% B. 13% C. 20% D. 30% 2. What did Tim suggest Judd to do last? A. Accept Tim’s rate. B. Consult with his insurance agent. C. Pay the extra premium. D. Nothing. D ( ) B

Listening Tim is talking to Judd about the insurance of a product order. Tim: Good morning, this is Tim. Is that Judd? Judd: Yes, this is Judd speaking. Tim: I'm calling to discuss the insurance coverage you requested for your order. Judd: Good, we requested an amount thirty percent above the invoice value. Tim: We have no problem complying with your request, but we think that the amount is a bit excessive. You know according to our usual practice ， we insure the goods only for 10% above the invoice value. Judd: Yeah, but in the past, we've really been put in a bind because of damaged goods. Tim: I understand your concern. However, usual coverage for goods of this type is the total invoice amount plus only ten percent. Judd: We could feel more comfortable, though, with thirty percent. Tim: Unfortunately, if you want the increase in coverage, the extra premium will be for your account. Judd: But shouldn't your quotation include adequate coverage against risks? Tim: That quotation involved normal coverage, but not all. So I suggest you contact your insurance agent there and compare rates. Judd: OK. Thanks. I'll check it out.

Spot Dictation 2. Spot Dictation Part 1 Listen to the dialogue between Sophia and Smith and decide whether the following statements are True or False. Part 1Part 2 1.Sophia usually does business with the customers based on a CIF basis. 2.The premium will be different if different kinds of risks are covered. 3.War Risk is included in All Risks. 4.War Risk is a special additional risk and it can be arranged with All Risks. 5. Sophia thought that it is essential to cover the glassware against War Risk. T ( ) T F F F

Spot Dictation Part 2 Listen to the dialogue again and fill in the blanks with the missing information. According to Sophia’s company’s usual 1__________, they do business with customers on a CIF basis. It will save customers’ a lot of time because customers don’t need to deal with so many 2__________ formalities. Sophia’s company usually 3__________ the goods with 4________________________________________The 5__________ will vary according to the types of risks to be 6__________. practice( ) insurance( ) insure( ) premium( ) covered( ) the People’s Insurance Company of China ( )

Listening Sophia: According to our usual practice, we do business with our customers on CIF basis, Mr. Smith. Smith: That’s good. It will save us a lot of time because we don't need to deal with so many insurance formalities. But I'd like to know how much the premium is. Sophia: Well, Mr. Smith, it will vary according to the types of risks to be covered. Smith: I see. Which company do you usually insure with? Sophia: We always insure our goods with the People's Insurance Company of China. Smith: That's great. May I ask what insurance you will cover according to your usual CIF terms for these glassware? Sophia: We usually insure against All Risks for glassware. Smith: Including War Risk? Sophia: No, War Risk is a special additional risk and it has to be arranged separately. Generally speaking, it is not necessary to insure against that risk,as All Risks has provided enough protection to your order. Smith: I see. Thank you for your information.

Text A New Words and Expressions Reading Comprehension Vocabulary Translation Cloze

New Words and Expressions  insurance n. 保险  occurrence n. 事情，事件  marine a. 船只的，海运的  vessel n. 船只 hull n. 船体  liability n. （对某事物）有责任或义务  devolve v. （指工作、职务）移交给某人  indemnity n. 赔偿；补偿  wharf n. 码头 terminal n. 终点站；码头  drilling rig 钻机；钻井设备  reimburse v. 赔偿  intact a. 无损伤的；完整的  strike v. （指灾难疾病等）侵袭  insurance policy 保险单  statutory a. 法定的；依法完成的  underwriter n. 保险业者，保险公司（尤指船只的）

Reading Read the passage and answer the following questions. 1. What is the function of insurance in the early period? 2. Why do people call “marine insurance” ocean marine insurance? 3. What protection can the marine insurance provide against the losses or damage for a shipping company? Insurance was originally applied to losses at sea where risks were always great. ( ) In order to distinguish it from inland marine insurance. ( ) It covers not only the insurance of ships, but also the insurance of hulls, the cargo they carry, liabilities that may devolve upon ships and ship operators, known as “protection and indemnity” but also the insurance of wharves, ports and harbors, container terminals and even oil platforms and drilling rigs. ( )

Reading 4. What’s the contribution of Lloyd’s in the insurance history? 5. How many groups are marine insurance policies classified into? And what are they? The standard Lloyd’s marine insurance policy was adopted as the statutory form in the Marine Insurance Act ( ) Four. In the first group included those policies covering against damage to the conveyances on which persons or goods are transported; in the second, those protecting a carrier against liability to others for losses of or damage to their property; in the third, those covering damage to the various kinds of goods being transported; and in the fourth, those covering the loss of freight and related losses resulting from the inability to use a particular vessel. ( )

Reading Insurance 1Insurance was originally applied to losses at sea where risks were always great, but it is now provided to almost any kind of occurrence that may result in losses. As a large percentage of our foreign trade in and out of this country goes by ship, what mainly concerns us is still the marine insurance. 2For shipments to countries overseas, the type of insurance arranged is known as marine insurance. It is also sometimes called ocean marine insurance to distinguish it from inland marine insurance. The first form of marine insurance dates back to 3000 years ago when Chinese merchants spread their goods among many vessels to reduce the possibility of damage to their products. 保险 保险最初只是用于风险较大的海上所遭受的损失，而如今已可为可能 引起损失的各类事件提供保险。在我们的国外贸易中，船运占了相当大的 比例，因此与我们密切相关的仍然是海上保险。 为海外航运所提供的险种即是海上保险。通常我们也称之为海运保险，以 便使之与内陆海上保险相区别。海上保险的说法可追溯到 3000 年前，那 个时候中国的商人就已经通过船只来运送货物以降低货物受损的可能性。 _____________ ① n. the contract made by a company or society, or by the state to provide a guarantee of compensation for loss, damage, sickness, death, etc in return for regular payment 保险  People without insurance had to pay for their own repairs. arrange/cover/ effect / provide/ take out + insurance 办理保险  Under FOB terms, insurance is to be covered by the buyer. insurance company 保险公司 insurance policy 保险单 insurance certificate 保险凭证 insurance premium 保险费 insurance value/ amount 保险金额 insurance agent 保险代理人 ② insure vt. make a contract that promises to pay sb an amount of money in case of accident, injury death, etc, or damage to or loss of sth 保险，投保 Every company would insure itself against loss or damage to its property. insurer n. 承保人 the insured n. 被保险人 ( ) 此句中 what mainly concerns us 是主语从句，所以后面的谓语动 词用单数。 cover ① vt. insure sb/ sth against loss 给某人 / 某物保险, 投保  We shall cover the goods against War Risk. Please cover All Risks and War Risk on the above goods. ② vt. (of money) be enough for (sth) 指钱足够做某事物之用  The firm barely covers its costs because it hasn’t made a profit for many years. ③ n. insurance against loss,injury, etc. 保险  a policy that gives cover against fire

Reading 3 Marine insurance protects a shipping company against the loss of a ship or its cargo. It covers not only the insurance of ships, but also the insurance of hulls, the cargo they carry, liabilities that may devolve upon ships and ship operators, known as “protection and indemnity” and also the insurance of wharves, ports and harbors, container and even oil platforms and drilling rigs. 4Basically, marine insurance is a contract between one party(usually the exporter) and the other party (an insurance company). In return for the payment of a fee (the insurance premium) by the insured(exporter), the insurance company agrees to reimburse the insured in full or in part for any financial losses suffered from various specified risks. 海运保险可以使船运公司的船只或者货物免受损失。它不仅给船只投 保，而且还为船体、所承载的货物、所移交的责任投保，这就是我们所知道 的 “ 保护与赔偿 ” 。不仅如此，海运保险给码头，集装箱码头，甚至是石油平 台和钻井平台投保。 从根本上来说，海运保险就是一份双方（出口商和保险公司）之间的 合同。对于缴纳费用（保险费）的投保人，作为回报，保险公司同意对投 保人因各种合同中明确规定的风险而遭受的经济损失进行部分或者全部的 补偿。 terminals ① n. end of a railway line, etc; wharf 终点站, 码头  She has worked at the terminal of Bus 29 for 20 years. ② a. of,forming or situated at the end of sth 末端的, 终点的, 最终的  Through a severalhour negotiation, both parties still didn’t come to a terminal agreement. ③ a. of the last stage in a fatal disease 晚期的, 末期的  Wandy is a famous woman who has raised millions for charity battling terminal cancer for serval years. terminate vt. 终止

Reading 5When goods have to be shipped to a foreign country, there is always the risk that they may be damaged, destroyed or stolen and the risk may vary, according to the country of destination, the route and method of shipment. To be protected from financial losses as a result of this risk, either the firm that sells the goods or the firm that buys them arranges for insurance. It is to the exporter’s advantage to be responsible for placing the insurance on the shipment. Such insurance cannot prevent accidental losses but can provide reimbursement for financial losses should the exporter’s shipment somehow fail to arrive or arrive intact. 6The cost of marine insurance is quite small compared with the cost of the goods shipped and the freight charges involved. Therefore, the benefit of the marine insurance, in terms of financial reimbursement if disaster strikes, is usually well worth the cost. 当货物被运往国外时，总会有一定的风险，被损坏或是被盗。由于目的地、 路线和装运方式的不同，所遭受的风险也会不一样。 为了免受因这些风险所导致的经济损失，销售或者购买这些货物的公司会为这些 货物投保。 由出口商负责为装船办理保险是对出口商有利的。这样的保险虽然不 能阻止意外损失的发生，但是如果出口商安排的装船由于某种原因不能准时或者 货物不能完好无损，保险就可以为所遭受的经济损失提供补偿。 海运保险的花费与所运输货物的成本及运费相比是相当小的。因此，假如遭受 灾难，在经济补偿方面，海运保险总是可以弥补这些费用的。 ( ) 此句中 such 放句首，句子部分倒装，因此情态动词 should （表达假定的 结果）提到主语 the exporter’s shipment 前面。

Reading 7Marine insurance retained its prominent position for some considerable time, and from the late seventeenth century onwards was increasingly transacted at a coffee house in the city of London owned by a man called Lloyd. Today, the influence of Lloyd’s on insurance has been very significant. For example, the standard Lloyd’s marine insurance policy was adopted as the statutory form in the Marine Insurance Act The purpose of insurance is to obtain in the event of any damage or loss, so an insurance policy is also a contract of indemnity, a contract between a party who agrees to accept the risk and a party who seeks protection from the risk. The contract, in the meanwhile, stipulates each party’s rights and responsibilities. On the other hand, insurance policy is an evidence of insurance issued by the insurer or underwriters to the insured. 在相当长的一段时间内，海运保险依然保持着其突出的地位。从 17 世纪后期 起，越来越多的交易是在伦敦的一家咖啡馆里进行的。咖啡馆的主人名叫劳 埃德。今天，劳埃德集团在保险业中的影响已经非常显著。例如，标准的劳 埃德海运保险单在 1906 年版的海运保险法令中就被纳为法定的形式。 保险的目的就是在发生任何损害或损失的时候，取得赔偿。因此，一份保险 单同时也是一份赔偿合同。合同双方分别是同意接受风险的一方和寻求保护 的一方。这份合同同时也规定了双方的权利和义务。另一方面，保险单也是 保险人或保险公司向投保人签发的保险凭证。 indemnity 1 ） n. guarantee against damage or loss, or compensation for these ( 为防遭伤害或损失 的）保障，赔偿、补偿、赔偿金  Insurers have sent emergency teams to give indemnity to the policyholder victims. ② vt. compensate sb for any harm he may suffer. 赔偿或补偿某人可能受到的损失  I’m afraid you should indemnify us by 6% of the total amount of the contract.  The Germany Company agreed to indemnify us for the defective watches.

Reading 9The modern marine insurance policy affords a very broad protection. There are various kinds of risks which can be covered under an insurance policy, such as basic risks known as FPA, WPA, All Risks and additional risks known as War Risk, Risk of Breakage, etc. 10Marine insurance policies may be classified into four broad groups based on the nature of the interest covered. In the first group included those policies covering against damage to the conveyances on which persons or goods are transported; in the second, those protecting a carrier against liability to others for losses of or damage to their property; in the third, those covering damage to the various kinds of goods being transported; and in the fourth, those covering the loss of freight and related losses resulting from the inability to use a particular vessel. 现代海运保险单提供了一个很广泛的保护。保险单上有各种各样的投保险别。 例如，基本险：平安险、水渍险、一切险，还有附加险：战争险，破裂险等。 根据保险权益的性质，海运保险单可分为四大类。第一类，保险单承保的是 载人式运输货物所使用的运输工具。第二类是保护承运人免受因他人财产损 失所带来的责任。第三类，是承保各类货物运输中遭到的损坏。第四类，承 保涉及运费和因无法使用某一特定的船只而带来的相关损失。

Reading 11It is a general practice to have the goods covered for 110% of the invoice value, which comprises cost of goods, amount of freight, insurance premium and a percentage of the total sum to represent a reasonable profit on the sale of goods. If the importer wants to cover for more than 110%, then the extra premium will be for his account. 一般的惯例是，按照发票金额的百分之一百一为货物投保，包括货物的 成本，运费，保险费和一定比例的交易总额。假如进口商想要按超过百分之 一百一的比例投保，那么额外的保费，就要由他负担。

Comprehension Part 1 Decide whether the following statements are True or False. Part 2Part 1 1.Marine insurance is also called ocean marine insurance and it is different from inland marine insurance. 2.Marine insurance protects a shipping company against only the loss of its cargo. 3.In return for a payment known as a premium paid by the insured, the insurer will agree to compensate the insured in the event of any financial losses. 4.The exporter couldn’t benefit from placing the insurance on the shipment. 5.All Risks and War Risk are regarded as additional risks. T ( ) F F F F

Comprehension  1.When did the first marine insurance arise?  A years ago. B. In 3000 BC.  C. After 3000 BC.  D. When Chinese merchants began to transport goods by ships.  2. “In return for the payment of a fee... specified risks.”(Para. 4) This  sentence means that ____________.  A. the insured pays some money to seek protection from the risk and the insurer agrees to accept the risk and provide all compensations for the insured  B. the party is insured against possible losses or damage and the other party insures others against the possible losses or damage and promises to effect payment in case of loss or damage  C. the insured pays some money to cover their goods and the insurer agrees to restore to the insured, either the full amount of the loss that may be incurred, or a specified percentage of the amount of the losses  D. the insurance company makes use of the insurance premium to compensate the insured for the losses Part 2 Choose the best answer to each question. A ( ) C

Comprehension 3.Why do people suffer from different risks when their goods are shipped to a foreign country? A. Because of the different goods. B. Because of the different shipping dates. C. Because of the different destinations, routes and the methods of shipment. D. Because of the different buyers. 4.Which of the following is NOT true according to the passage? A. Lloyd’s has played a very important role in insurance. B. According to the nature of the interest covered, we can use different marine insurance policies. C. An insurance policy is a contract between the insurer and the insured. D. What you need to pay for the marine insurance is the amount of the cost of the goods shipped and the freight charges. 5. If the importer wishes to insure the goods for 20% above the invoice value, the extra premium will be paid by ____________. A. the importer B. the exporter C. the importer and the exporter together D. the underwriter c ( ) D A

Vocabulary Part 1 Choose the best answer to complete each sentence. 1. _______ will be added to the invoice amount together with freight charges. A. Coverage B. Insurance C. A premium D. A rate 2. We note that you wish us to insure the goods _______ 20% _______ the invoice value. A. of, of B. for, of C. for, for D. for, above 3. Our clients request their order to be insured _______ War Risk. A. of B. for C. at D. against 4.We wish to refer you to our order for 200 TV sets and you will see that the order was placed on a CIF _______. A. base B. based C. basis D. basic 5. Could you arrange insurance on our behalf against All Risks _______ the invoice value _______ 10%? A. for, plus B. on, for C. of, for D. for, for B ( ) D D C A Part 2Part 1 Part 3

Vocabulary Part 2 Complete the sentences with the following expressions. Change the form where necessary. for your account damage insurance policy result in be responsible for broader coverage underwriter distinguish in return for fail to 1.If you want __________________, we can arrange it for you, but the extra premium will be ___________________. 2.A __________________ is a written legal contract between the insurer and the insured containing all terms and conditions of the agreement. 3.It is not clear that who should be responsible for the __________ to the goods. broader coverage( ) for your account( ) insurance policy( ) damage ( )

Vocabulary for your account damage insurance policy result in be responsible for broader coverage underwriter distinguish in return for fail to 4.Our _______________ enjoy good reputations and have agents in all big cities in the world. 5.Confusion over these terms can ______________ a lost sale or a financial loss on a sale. 6.Commerce, this word is used to _______________ the business scope from other areas such as government or the arts. 7.We hope you can quote a special rate _______________ the promise of regular monthly shipments. 8.As we know, the underwriters _____________________ the claim as far as it is within the scope of cover. 9.Although we had tried our best, we __________ get the goods ready for shipment in such a short period of time. underwriters( ) result in( ) distinguish( ) in return for( ) are responsible for( ) failed to ( )

Vocabulary part 3 Complete the sentences with the following expressions. Change the form where necessary. Each word can be used more than once. cover insure consign indemnity transact classify ship stipulate 1.It was _____________ that the goods should be delivered within 2 days. 2.There have long been numerous companies and associations ____________ the business of insurance. 3.Insurance on the above shipment shall be __________ by 20% above the invoice value. 4. Each ____________ pays a premium that is small compared to the cost of the possible loss. Stipula ted( ) transacting( ) covered( ) consigner( )

Vocabulary  5. We leave the ______________ to you but we wish to have the goods covered against WPA.  6. Since the insurance varies with the extent of _____________, extra premium is for buyer’s account, should additional risks be covered.  7.If the _______________ is concluded on a CIF basis, what coverage should we have?  8. If you want to effect insurance on the goods, you’d better know something about the _______________ of insurance before.  9. Proper insurance for the exports and/or imports will ___________ the insured against losses, damage and theft to their goods.  cover insure consign indemnity transact classify ship stipulate insurance( ) coverage( ) transaction( ) classification ( ) indemnify( )

Vocabulary  10. Marine risks can be ____________into two types according to the nature.  11. A(n) ________ is the person or company that contracts to indemnify losses for a premium.  12. Should any losses be incurred, you may file a claim within 60 days after the arrival of the _______________.   13. There is no problem to ________ the goods to your port before the selling season comes. cover insure consign indemnity transact classify ship stipulate classified( ) insurer( ) consignment( ) ship( )

 14. Insurance is defined as financial ___________ against losses or damage.  15. The insurance company will make the compensation for the losses of the _____________ and deal with the carrier.  16. There are several ______________ which the client hardly accepts in this insurance policy. cover insure consign indemnity transact classify ship stipulate indemnity( ) consignee( ) stipulations( )

Translation Part 1Part 2 Part 1 Translate the following terms into Chinese. 1.insurance policy 2.insurance premium 3.financial reimbursement 4.invoice value 5.general practice 6. ocean marine insurance 保险单 ( ) 保险费 ( ) 经济赔偿 ( ) 发票金额 ( ) 惯例 ( ) 海运保险 ( ) Part 3

Translation Part 2 Translate the following sentences into English. 1. 我们很高兴地通知你方，我们已向保险公司为上述货物投保了一切险，投 保金额为 7,600 美元。 2. 我方知道按照你方惯例，你方只按发票金额的 110% 投保，因此额外保险 费由我方承担。 3. 于以到岸价成交的货物，我们将根据 “ 仓至仓 ” 条款按发票金额的 110% 投保 一切险。 We are pleased to inform you that we have covered the above goods with the PICC against All Risks for US  7,600. ( ) We know that according to your usual practice you insure the goods only for 110 % of the invoice value,therefore, the extra premium will be for our account. ( ) For the goods sold on a CIF basis, insurance is to be effected by us for 110% of the invoice value against ALL Risks based on the warehousewarehouse clause. ( )

Translation Part 3 Complete the following sentences by translating the Chinese into English. 1.If you ____________________________________________________ ___________________( 对保险金额及投保险别有特殊的要求）, please let us know and we will do our best to meet your requirements. 2.We shall be glad to know your ___________________ ( 平安险最低费率 ). 3.By the way, ______________________________________________ ( 保险费包含在发票里面了 ). 4.__________________________________ ( 我们会立即投保 ) upon receipt of your shipping advice. have specific requirement for the insured amount or insurance coverage ( ) lowest rate for FPA( ) the premium will be included in the invoice value( ) We will cover insurance immediately ( )

Cloze Fill in the blanks with appropriate words to complete the summary of the text. In international business, the 1________ of the goods from the seller to the buyer is usually over a long distance and has to go through the processes of loading, unloading, and storing. This process involves various 2________ which may result in the 3________ or losses of the goods, and thus the inconveniences or even financial losses to both the seller and the buyer. To protect the goods 4________ possible losses, before goods are shipped, the buyer or the seller usually 5________ to an insurance company for insurance 6________ the goods to be transported. And the insurance company agrees to 7________ the insured if a specified undesirable event occurs. Generally speaking, there are two main types of insurance 8________, that is basic insurance coverage and additional risk coverage. Regarding insurance, there is a very important document, that is, insurance policy. It is a written agreement between a(n) 9________ and an individual or organization that requires insurance. The 10________ sets out the terms and conditions and specifies the risks that will be compensated for.

Cloze  1. A. transact B. transport C. transportation D. transaction  2. A. people B. aspects C. risks D. problems  3. A. benefit B. disadvantage C. advantage D. damage  4. A. away B. of C. for D. against  5. A. ask for B. applies C. goes D. requires  6. A. include B. including C. cover D. covering  7. A. compensation B. inform C. indemnify D. refund  8. A. coverage B. companies C. brokers D. terms  9. A. manager B. owner C. underwriter D. broker  10.A. underwriter B. insurance policy C. contract D. broker c ( ) C D D B D C A C B

Text B Reading Comprehension Vocabulary Cloze New Words and Expressions

New Words and Expressions  underneath prep. 在 …… 底下  authorize v. 授权，批准  synonymous a. 同义的  terrorism n. 恐怖主义

Reading The History of the Famous Underwriter — Lloyd’s

Reading  1The word “underwriter” originated from Lloyd’s. In the late 1600s, a man named Edward Lloyd ran a coffeehouse in London. Lloyd’s coffeehouse came to be known as a place where ship owners could go to find men interested in insuring ships and cargoes. The ship owners would go from table to table at the coffee house, and various men would agree to insure part of the ship owners’ risks. They did so by writing their names underneath a description of the risks being insured. (Thus, they were “underwriting” the risks.) Sometimes an underwriter would add the names of friends who didn’t have time to go to the coffee house themselves but who wanted to invest some of their funds in the hope of earning a profit. 著名保险公司 —— 劳埃德集团的历史 保险公司这个词起源于劳埃德集团。在 17 世纪的晚期，一个名叫爱德 华 · 劳埃德的人在伦敦经营了一家咖啡屋。劳埃德的咖啡屋逐渐成为了船 主们寻找有兴趣为他们的船只和货物投保的人的地方。 船主们可以在店里一桌一桌地去找，这样就会有不同的人给他们的部分 风险投保。他们会把名字签在一份投保风险的说明书上，表示他们愿意 为风险投保。 有时，保险公司会加上一些朋友的名字，这些朋友没有时间前往咖 啡屋，但是又想投资一些资金来赚取利润。 ( ) 此句中的 who wanted to invest some of their funds in the hope of earning a profit 同样也是个定语从句，先行词是前面的 friends 。 由转折连词 but 连 接的两个定语从句共同修饰先行词 friends.

Reading  These “names” would have given the underwriter to accept risks on their behalf. The business is conducted in essentially the same way today. The insurance is written by syndicates, which are groups of names organized under the heading of an underwriter who is to conduct the business. There are about 360 syndicates, ranging in size from just a few names to several thousands. Each syndicate specializes in a certain form of insurance, either marine, aviation, automobile, or other property-casualty lines.  2Modern form of insurance was probably shaped during the industrialization of Europe. Friendly societies or guilds assumed the role of sharing the costs of risks. 这些名字可授权保险公司代表他们接受风险。这样的做法在本质上和如今 的是一样的。保险由辛迪加撰写，那是在授权经营的保险公司的领导组织 下成立的企业联合组织。大约有 360 个辛迪加组织，他们在规模上大不相 同，有几个企业联合而成的，也有上千企业联合而成的。 每个辛迪加专门 从事某一类的保险，不是海运，航空，汽车，就是财产和伤亡。 现代的保险形式大约是在欧洲工业化时期形成的。行业协会担任分担风 险成本的角色。 permission n. act of allowing sb to do sth; consent 许可，准许，同意  How to apply for permission to work in Australia?  You have my permission to leave. permit vt. give permission for sth; allow 许可，允许  permit sb to do sth/ permit doing sth.  We don’t permit smoking in the office.  The government will not permit you to build a bridge here. authorized ① give authority to (sb) 授权，委任，委托 I have authorized him to act for me while I am abroad. ② give authority for (sth) 批准，认可 Could you tell me if this business visit has been authorized ?  The local government didn’t authorize the construction of a new airport near the village. authority n. ① a power to give orders and make others obey 权力，权威  She will have authority over the people she used to take orders from after the promotion. ② ( 常作复数） a person or group having the power to give orders or take action 有权力发号施令的 人或团体，当局，官方 The authorities are investigating the matter arisen from terrorism ( ) 此句中 which 引导的非限制性定语从句修饰先行词 syndicates ，紧接着 的由 who 引导的定语从句修饰先行词 underwriter 。

Reading As the leading nation, England pioneered the concept of maritime insurance by crystallizing the concepts in a London pub in the seventeenth century — Lloyd’s, which has become synonymous with marine insurance. 3Lloyd’s is now a registered trade mark of the Society of Lloyd’s. Being the world’s oldest and most famous insurance market and attended by Lloyd’s brokers and Lloyd’s underwriters, Lloyd’s provides specialist insurance services to businesses in over 200 countries and territories. In 2006, 66 syndicates were underwriting insurance at Lloyd’s. 作为主要的沿海国家，英格兰将十七世纪伦敦这家咖啡屋 —— 劳埃德中的 理念具体化，率先提出海上保险的概念。劳埃德集团如今成为海运保险的 代名词。 Lloyd’s 现在是劳埃德行业协会的注册商标。作为世界上历史悠久和最著 名的保险市场，且有着众多劳埃德的经纪和保险商的参与，劳埃德集团 为超过 200 个国家和地区的企业提供专业的保险服务。在 2006 年， 66 个 辛迪加组织署名于劳埃德集团旗下。 maritime ① of the sea, sailing or shipping 海的，海上的，航海的，海事的  That country was a great maritime power. ② situated or found near the sea 沿海的，海上的  The country’s maritime provinces are very rich because of their natural resources. Translation of the Text

Reading  4Lloyd’s is a top conduit for aviation and marine insurance, as well as specialty insurance, such as policies covering art and jewelry or protecting against acts of terrorism. The underwriters at Lloyd’s are among the best in the world. The risks that they cover are usually brought into the Lloyd’s market by brokers, and the underwriters and brokers together will use their considerable knowledge and expertise to agree to the right insurance cover at the right price and on the right terms. 劳埃德集团是航空和海运保险，特别是专业保险中最高级的渠道，例如 承保对象包括艺术和首饰或者防止受到恐怖主义行为的侵害。 劳埃德 集团旗下的保险公司是世界上最好的。他们所承保的风险由经纪人引入 市场，保险商和经纪们将一起使用他们丰富的知识和专门技术根据合适 的价格和条款来决定合适的保险范围。

Comprehension Choose the best answer to each question. 1. Why did the ship owners go from table to table at the Lloyd’s coffee house? A. To find someone to talk with. B. To seek their prospective clients. C. To finish the questionnaire. D. To persuade some men to insure part of their risks. 2. Different kinds of men agreed to insure the risks of the ship owners by _________. A. giving the money to the ship owners on the spot B. verbal permission C. purchasing products and services D. signing their names under the detailed information about the risks insured. D ( ) D

Comprehension 3. Which fields are the syndicates involved in? A. All kinds of insurance. B. Signing the insurance. C. Doing business with insurance company. D. A certain form of insurance. 4. The following statements are true except that _________. A. there are about 360 syndicates, which are quite different in size B. the first form of insurance was formed during the industrialization of Europe C. in modern time, Lloyd’s could stand for marine insurance D. England is known as the first one which puts forward “marine insurance” 5. How do the brokers and the underwriters of Lloyd’s finish their work? A. Work with their partners. B. With the help of their strong back-ups and the support from their companies. C. Make full use of their professional skills and experience to agree the reasonable insurance cover. D. By all means. D ( ) B C

Vocabulary Choose the right meaning of the underlined part according to the context. 1.The insurance is written by syndicates, which are groups of names organized under the heading of an underwriter who is authorized to conduct the business. A. associations B. insurance company C. underwriters D. directors 2. Each syndicate specializes in a certain form of insurance, either marine, aviation, automobile, or other property-casualty lines. A. focuses on B. operates C. researches D. explores 3. Lloyd’s has become synonymous with marine insurance. A. partner B. representation C. substitute D. competitor A ( ) A B

Vocabulary 4. The risks are usually brought into the Lloyd’s market by brokers. A. competitors B. partners C. agents D. clients 5.The underwriters and brokers together will use their considerable knowledge and expertise to agree to the right insurance cover. A. experience B. appearances C. experts D. professional kills C ( ) D

Cloze Fill in the blanks with appropriate words to complete the following passage. When you 1_______ business, you inevitably encounter 2_______. Though you can’t eliminate risks from your business, you can manage it. To manage your risk of financial loss, you can buy insurance. In exchange for this protection, you make a regular payment to the insurance company called a 3_______. When you buy insurance, you 4_______ an agreement called 5_______. An insurance policy is a written legal contract between the insurer and the insured containing all 6_______ and conditions of the agreement. It shows full details of the risks covered, and is also called the formal insurance document. The insurance policy is the most commonly used document in marine insurance. Different policies protect you 7_______ different types of loss. The policy spells out the specific loss that it 8_______ and the financial 9_______ the underwriter will provide if you suffer that loss. If you do have a loss covered by the policy, you lodge a 10_______, a formal request for payment from the insurance company.

Cloze 1. A. complete B. conduct C. proceed D. plan 2. A. profit B.income C. benefits D. property-casualty 3. A. tax B. premium C. commission D. fee 4. A. sign B. write C. give D. fill in 5. A. contract B. document C. file D. insurance policy B ( ) D B A D

6. A. details B. terms C. information D. parties 7. A. from B. away C. of D. out of 8. A. contains B. shows C. covers D. outlines 9. A. loss B. support C. compensation D. assistance 10. A. policy B. contract C. claim D. sue B ( ) A C C C

Real Life Practice Role-play Work in pairs, acting as the representative from ACME Industries and a staff member in the Export Sales Department of Finntec Co. Ltd. ACME plans to import a large quantity of electric components, details as follows. So ACME wants to inquire about the details of insurance with PICC, such as risk, period, premium rate, terms and so on. Commodity: Notebook Components Article No.: JK4081 Quantity: 50,000 pieces Unit Price: USD per piece, CIF London Amount: USD 500, Time of Shipment: Not later than Nov. 6, Partial shipment not allowed. Port of Shipment: Main port of Finland Port of Destination: London Terms of Payment: Irrevocable letter of credit with documents

Practical Writing  Dear Sirs,  ① As requested, we have covered the above goods with the insurance company here against All Risks for 130 % of the invoice value, totalling US $ 27,000.  ② For your information, the goods have been shipped by S.S. Yuanyang sailing for your port on or about November 28.  ③ The policy is being prepared accordingly and will be forwarded to you by airmail within one week together with our debit note for the premium.  ④ We are in receipt of your letter dated November 6 requesting us to insure the 2,000 sets of dinnerware for you.  Yours faithfully,  Manager Making out a Contract Part 1 Put the following sentences into the correct order. Answer: ④ ① ③ ② ( )

Practical Writing  保险单号码 : TY  发货票号码 : SWT/  投保人 : Shanghai Textiles I/E Corp.  标记与编号 : N/M  包装与数量 : 4 Cases  货物名称 : Garment  保险金额 : USD 1,  总保险金额 : USD 1,  保费 : As arranged  费率 : As arranged Part 2 Complete the following insurance policy with the given information. 装载船舶： S.S.Victory 开航日期： Nov.10,2005 始发港： shanghai 目的地： Hong Kong 承保险别： Covering All Risks 赔款偿付地点： Hong Kong 出单日期 :Sept.25,2007 签署人 : 副经理王平

Practical Writing The People’s Insurance Company of China Head Office: BeijingEstablished in 1949 Marine Cargo Transportation Insurance Policy Invoice No. 1_____________ Policy No. 2______________ This Policy of Insurance witnesses that The People’s Insurance Company of China (hereinafter called “The Company”) at the request of 3_________________________(hereinafter called “the Insured”) and in consideration of the agreed premium paid to the Company by the Insured, undertakes to insure the under-mentioned goods in transportation subject to the conditions of the Policy as per the Clauses printed overleaf and other special clauses attached hereon. MARKS&NOS. QUANTITYDESCRIPTION S OF GOODS AMOUNT INSURED 4.—————— 5——————6——————-7—————— SWT/ ( ) TY ( ) Shanghai Textiles I/E Corp( ) N/M( ) 4 CASES( ) Garment( )USD ( )

Practical Writing otal amount insured 8_______________ Premium9_______________ Rate 10_____________________Per conveyance 11_____________ Slg. on or abt. 12____________ from 13__________ to 14__________ Conditions 15_________________ The People’s Insurance Company of China Claim payable at 16__________ 17__________ Date 18__________ Deputy Manager US  ( ) As arranged ( ) S. S. Victory( ) Nov. 10, 2007( ) Shanghai ( ) Hong Kong ( ) Covering All Risks( ) Hong Kong( ) 王平 ( ) Sept. 25, 2007( )