《金融专业英语课件》.ppt

金融专业英语 One of the most important points to remember is that the client must have an insurable interest. Otherwise a contract of insurance will not be issued. This means that the person (or organization) to whom the insurance proceeds are to be paid if and when the specific event occurs must suffer a financial loss in proportion to the amount of insurance. Generally, an insurable interest must be demonstrated when a policy is issued and in the case of property insurance, must exist at the time of a loss. Once a life insurance policy has been issued, the insurer must pay the policy benefit, whether or not an insurable interest continues to exist. A typical insurance policy usually contains such details as follows: the amount insured; the amount of each premium payment to be made by the policyholder; when and how often premium payment are to be made; the risks covered—what events the insurance will pay for; how much the insurance company will pay in respect of each occurrence of an event that is covered by the policy; and what the policyholder must do( or not do) in order to keep the insurance in force. Once the event covered by insurance policy has occurred, the policyholder or beneficiary should notify the insurance company timely. The company’s representative, called a claims adjuster, will ask some details about the event and the amount of the loss. The policyholder(beneficiary) will also be asked to fill out a claim form which provide the insurance company with the details it requires and swear that the information is true and correct in all respects. Once the claims adjuster confirms it, a cheque for the portion covered by the insurance company will be sent to the policyholder(beneficiary) in several days. 7.4 Legal Principles of Insurance 7.4.1 Principle of Indemnity Principle of indemnity is usually contained in all insurance contracts for it is a legal base. Therefore in the event of a loss of the scope of insurance coverage, insurance policy holders will