Correspondence 9 - Insurance教程.pptVIP

Chapter IX Insurance 保险 Insurance Teaching Objectives To know the definition of insurance To know the relevant information of insurance To master the vocabulary and useful sentences Useful Knowledge Insurance here mainly refers to marine cargo transportation insurance. ? In insurance business, the insured (or insurant) is one who pays the insurance company for the coverage of risks of the cargo.　 The insurer is the insurance company that agrees to make payment in case of loss or damage occurred to the insured. 　　 The insured and the insurer are bound by a contract known as the insurance policy.　 The sum of money the insured pays to the insurer for the coverage of risks of the cargo is called premium.　 Useful Knowledge Two kinds of marine cargo insurance 1.Peril of the Sea(海上风险；海难) : Under the perils of the sea are natural calamities, such as vile weather, thunder, lightning, tidal wave, earthquake, etc. classified under force majeure, and fortuitous accidents, such as ship stranded, striking upon the rocks, ship sinking, fire, explosion, etc. ? 2.Extraneous Risks(外来风险) : These risks are caused by theft, rain, shortage, leakage, dampness, war, strikes, etc. Useful Knowledge Two types of total loss(全部损失) :? 1. The actual total loss(实际全损) refers to the total loss or the damage of the insured goods so that they become entirely valueless. ? 2. Under the constructive total loss(推定全损) , the actual total loss of the insured goods is unavoidable, or the cost of salvage or recovery and continual transport of the damaged goods would exceed the value of the goods in sound condition at the port of destination. Useful Knowledge Two kinds of Partial loss (部分损失) ：? 1. General average (G.A. 共同海损) ? 2. Particular average (P.A. 单独海损) Useful Knowledge The ocean cargo clauses under the China Insurance Clauses include three basic insurance covers. ? 1. Free from Particular Average (F.P.A.) ?平安险 2. With Average (W.A) or With Particular Average (W.P.A.) ?水渍险 3. All Risks (