1、 Unit Nine Teaching Objectivesv了解保险的定义和主要分类v了解中国保险业现状v掌握有关保险的术语Teaching Emphasesvinsurance policyvpremiumvinsurance coveragevinsurable interestvsubject matterContent vText vFast Reading IvFast Reading II TEXT General Introduction to Insurance Pre-reading questions1.How is insurance related to each i
2、ndividual?2.What is the status quo of insurance industry in China?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 the cas
3、e 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,also called
4、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 the occurrence of
5、 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 liability coverage)or the type
6、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 most cases,an insurable interest
7、 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 international financial powerhouse
8、s.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 banks have set up their own insurance companie
9、s 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.Health insurance-money paid for doctors,medicati
10、ons,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 stolen.Liability insurance-money paid in the event th
11、at 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 few from the pool formed by the contributions of all memb
12、ers.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 to risk,insurance determines the probable volume of risk,en
13、abling 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 observing safety instructions,installation of automatic sparkler
14、 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 industrial units have some problems but they have insured their assets incl
15、uding 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 foreign exchange by way of issue of marine insurance policies and various oth
16、er 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 the concerned policies are also experiencing a fast development.Since Chinas ins
17、urance 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 were only 31 insurance companies in China at the end of 2000.By the end of 2019,ther
18、e 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 premium income had reached RMB 492.734 billion,(RMB 34.1 billion was from foreign insuran
19、ce 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 accounts for a small proportion of the national economy.The unbalanced development of economy caused
20、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 prosperous than that of Central and Western China.More importantly,regulation of the insurance industry has n
21、ot 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 insurance.保险单，保险契约：一张书面的保险契约或证明e.g.insurance policy保险单 policy holder保单持有人-n.a plan or course of action,as of
22、 a government,political party,or business,intended to influence and determine decisions,actions,and other matters:政策：一个计划或行动路线，如政府、政党或企业的计划或行动路线，意在影响和确定决定、行动和其它事情e.g.American foreign policy 美国的对外政策Language points Premium-n.the amount paid or payable,often in installments,for an insurance policy.保险金：
23、为保险单而通常分期支付的钱-n.a prize or an award.奖品或奖赏 Language points deductible-adj.That can be deducted,especially with respect to income taxes:可减免的：可扣除的，尤指收入所得税可减免的：e.g.deductible expenses.可减免的花费-n.a clause in an insurance policy that exempts the insurer from paying an initial specified amount in the event t
24、hat the insured sustains a loss.扣除条款：保险单内的条款之一，免除保险人对被保险户承受的损失赔偿最初的规定的金额Language points coverage-n.the extent or degree to which something is observed,analyzed,and reported 范围：观察、分析和报道某事物的范围或程度：plete news coverage of the election.关于选举的全部新闻报道-n.inclusion in an insurance policy or protective plan.保险项目
25、：某一保险单或担保方案所包含的内容-n.the extent of protection afforded by an insurance policy.保险范围：保险单内所提供的承保范围Language points interest-n.regard for ones own benefit or advantage;self-interest 利益：对自身的好处或利益的考虑；私利：e.g.It is in your best interest to cooperate.She kept her own interests in mind.合作对你最有利。她心存私欲 insurable i
26、nterest 可保利益-n.a right,claim,or legal share:权益，利润：权利、质权或股权：e.g.an interest in the new company.这家新公司的利润Language points subject matter -n.matter under consideration in a written work or speech;a theme.题目;著作或演讲中的探讨的问题;主题；标的物Language points mitigation-n.to act in such a way as to cause an offense to see
27、m less serious 缓解，减轻 It is used in 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.减少损失是突发事件管理的基础。Language points caution-v.to advise to take hee
28、d;warn or admonish 警告，劝告：建议多加小心；警告或训诫e.g.The doctor cautioned me not to take too much fat in my diet.医生警告我饮食中不要过多摄取脂肪。Language points issue-n.the act of circulating,distributing,or publishing by an office or official group:发行，印行：某部或官方组织进行流通、分配或印刷出版的行为e.g.government issue of new bonds.政府发行的新公债-v.to c
29、irculate or distribute in an official capacity:流通，发出：通过政府机关流通或分配：e.g.issued uniforms to the players.给演员发制服-v.to publish 出版e.g.issued periodic statements.出版定期声明书Language points status quo the existing condition or state of affairs.现状,现存情况或事态Language points keep pace with-v.phrase 并驾齐驱，赶上e.g.We must w
30、ork hard to keep pace with the development of technology.我们必须刻苦学习，才能跟上技术发展的步伐。Language points market-driven economy-n.phrase 市场经济e.g.China should take quicker steps to move toward a market-driven economy by 2020.中国应加快步伐，在2020年迈向市场型经济。I.Answer the following questions based on the text.1.What is the g
31、oal 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 .I.Answer the following questions based on the text.2.What is insurance
32、 policy?It is the contract between the insurer and the insured.I.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 subject matter of the insurance and this interest is in fact insurable.I.Answer the following ques
33、tions 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,liability insurance,and etc.I.Answer the following questions based on the text.5.What are the major functions of insuran
34、ce?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 pool formed by the contributions of all members.Insurance assesses risks and provide certainty of risks,helps prevention of lo
35、sses,contributes towards the development of larger industries and is also a source of earning foreign exchange.II.Read the following terms and match each with its proper definition.1.insurance policy 2.coverage 3.liability 4.Premium5.agency6.mitigation7.goodwill8.Device9.Ipensation a.a contract of i
36、nsurance,describing the term,coverage,premiums and deductibles.b.bring out an official document c.representation d.the act of lessening 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 gi
37、ven or received as reparation i.an intangible assets valued according to the reputation of a business j.a legal responsibility,obligation,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
38、 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 the occurrence of a specific event.In most cases,the policy holder pays part of the loss(called the deductible),and
39、 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(eg.$20,000 of liability coverage)or the type of loss covered(coverage of theft).保险费是根据被保险财产的价值和需要保障的范围而确定的一定数目的费用。作为对被保险人所交的保险费的交换，保险人同意在发生特定事件的
40、时候，向保单持有人支付一笔钱。大多数情况下，保单持有人承担部分损失（称作自负额），保险人支付剩余额。保险险别/保险总额是保险的另外说法。这个术语可以指所买保险的全额（比如，2万美元的责任险），也可以指所保的险别（如偷盗险）。IV.Put the following sentences into English 1.如果你想购买某种健康保险的话，你必须先了解一下情况。2.最近的金融危机导致保险业损失惨重。3气候变化将会增加英国洪水的泛滥几率，进而会导致保险费迅猛增长。4.现代社会，选择适当的汽车保险比以往任何时候都重要。5.理查德在保险业已从业28年，在能源领域方面经验丰富。1.If you a
41、re thinking of getting a Health Insurance,you have to get a little information at first.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 th
42、e modern world,proper auto insurance is more important than ever.5.Richard has been in the insurance industry for 28 years with extensive experience in the Energy field.Fast Reading I China mulls insurance market easing for foreign firms Chinas insurance regulator is considering opening the market f
43、or compulsory automobile insurance to foreign firms,said three 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 insur
44、ers,which can now only offer some optional car insurance 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 t
45、he worlds biggest car market,and increase their share 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
46、 government is no longer worried about foreign 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 Citi
47、group Inc have also trailed Chinese rivals,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
48、Commissions 2009 annual report.Thats 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 tradi
49、ng group.Fifty-two overseas insurers 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 quadr
50、upled revenue from 2019 to 2009 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
