Lectre 10.insurance.pptVIP

Lecture 10 Insurance Insurance: provides a pool of fund into which the many contribute and out of which the few who suffer loss are compensated. Insurance has become a vast subject and now enters into almost every activity of man. The idea of insurance is to obtain some indemnity in the event of any happenings that cause loss of money. Insurance is against risk. Chief branches of insurance: 1. Fire 2. Accident 3. Life 4. Marine In international trade, the transportation of goods from the seller to the buyer is generally over a long distance by air, by land or by sea and has to go through the procedures of loading, unloading and storing. During this process it is quite possible that the goods will encounter various kinds of perils and sometimes suffer losses. In order to protect the goods against possible loss in case of such perils, the buyer or seller before the transportation of the goods usually applies to an insurance company for insurance covering the good in transit. What is PICC? The People’s Insurance Company of China takes care of the country’s insurance. It is a state-run insurance company who protects the interests of the insured—Chinese and foreign importers and exporters and helps in the development of our country’s foreign trade. When was it founded? 1949 What is Lloyds? Lloyds is the worlds leading insurance market providing specialist insurance services to businesses in over 200* countries and territories. In 2008, 75** syndicates are underwriting insurance at Lloyds. 劳埃德保险公司英国劳埃德保险公司是当今世界保险业中信誉最高、名气最大、资金最雄厚、利润最多的一家大保险公司，它成立于1680年，迄今已有300多年的历史 .拥有2.6万多个成员的企业联合体。由 430个辛迪加组织组成。 Types of Perils and Losses Kinds of Perils 1. Perils of the Sea (海上风险） ----- Natural Calamities: vile weather, thunder and lightning, earthquake, floods, etc. ----- Fortuitous Accidents: ship stranded, ship sinking, collision, etc) 2. Extraneous Risks(外来风险）: theft, rain, shortage, leakage, breakage, etc. They may include special risks, such as war risks and st