unit 10 Insurance课件.ppt

Unit 10 Insurance;Teaching Objectives By learning this unit, students are supposed to be able to Grasp the definition of all the items about marine insurance Know the different kinds of insurance Write letters to deal with insurance matters ;;Definition of the terms Insurance, the insured, the insurer and premium Insurance here mainly refers to marine cargo transportation insurance business the insured is one who pays the insurance company for risks of cargo. The insurer is the insurance company that agree 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.;The kinds of insurance Under marine cargo insurance, the perils, accidents and risks insured against are usually of two kinds. 1)Peril of the sea :Under the perils of the sea are natural calamities, such as vile weather, thunder lightning, tidal wave, earthquake, etc. clssified under force majeure, and fortuitous accidents, such as ship stranded, striking upon the rocks, ship sinking, fire, explosion, etc. 2)Extraneous Risks: These risks are caused by theft, rain, shortage, dampness, war, strikes, etc. ;The types of total loss and partial loss Perils of the sea may cause either loss or partial loss of the insured goods during sea transport. There are two types of total loss. The actual total loss refers to the total loss or the damage of the insured goods so that they become entirely valueless. Under the constructive total loss, 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 the destination. Partial loss includes general average and particular average. General average refers to a partial loss intentionally but reasonably incur