Module 1_Fundamentals of Business当代商学概论.pptVIP

Module 1:Fundamentals of Business当代商学概论 Lecture 10: Insurance and Business Law 保险与商法 What to cover today： Business risks Insurance Business law Exercises 1. Business risks Risk management 风险管理 is: -- the practice of appraising and controlling risk International risks: Financial risks: balance-of-payments considerations, varying exchange rates, differential inflation trends, divergent interest rates Political risks: expropriation or lesser harassment directed toward the foreign firm Regulatory risks: different legal systems, overlapping jurisdictions, dissimilar policies to regulate restrictive business practices Tax risks: unforeseen changes in tax and fiscal policies Approaches to managing business risks: Avoiding the risk Controlling the risk Assuming the risk Shifting the risk: hedging and insurance Hedging 套期保值/对冲买卖 is: -- a position established in one market in an attempt to offset exposure to price fluctuations in some opposite position in another market with the goal of minimizing ones exposure to unwanted risk 指把期货(futures)市场当作转移价格风险的场所，利用期货合约作为将来在现货(spot goods)市场上买卖商品的临时替代物，对其现在买进准备以后售出商品或对将来需要买进商品的价格进行保险的交易活动 2. Insurance Insurance 保险 is: -- a defensive form of risk management primarily used to hedge against the risk of a contingent, uncertain loss in the future -- the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment Insurer 承保人: a company selling the insurance Insured/policyholder 投保人/保户: the person or entity buying the insurance policy Insurance policy 保险合同/保单: a contract of insurance between the insurer and the insured, describing the term 保险条款, coverage 保险范围, premiums 保费 and deductibles 免赔额 Insurance rate 保险费率: a factor used to determine premium for a certain amount of insurance coverage 承保人按单位保险金额向投保人收取保险费的标准 insurance rate = premium / amount insured （费率=保险费/保险金额 ） Listening: Concept and importance of insurance Word bank: reimbursement 赔付 helmet 头盔 make good 补偿，赔偿 he