《经济学专业英语教程（第三版下）》Unit6保险.ppt

Unit 6 Text: Insurance （保险） 1. Key words 2. Definition of insurance, uninsurable risks and insurable risks 3. Guideline for determining whether a loss is insurable 4. Premium and deductible clause 5. Insurance institutions 6. Basic conditions for shaping of insurance institutions 7. Questions 1. Key words 2. Definition of insurance, uninsurable risks and insurable risks Definition of Insurance Insurance is a written contract, taken with the insuring company, that transfers the risk of loss to the insurer according to the terms of the contract. Definition of uninsurable risks If an insurance company would have difficulty calculating the likelihood that loss would occur because of some risk, it is reluctant to insure against that risk. Risks of this type are generally referred to as uninsurable risks. Definition of insurable risks An insurable risk is one for which likelihood of loss can be calculated and that meets the requirements set by most insurance underwriters to be insurable. 3. Guideline for determining whether a loss is insurable 3.1 The individual policyholdermust have an insurable interest 3.2 The likelihood of loss needs to be predictable 3.3 The amount of loss must be financially measurable 3.4 The losses must be fortuitous (accidental) 3.5 The risk should be dispersed 3.6 The insured must meet certain standards to qualify 3.1 The individual policyholdermust have an insurable interest This simply means you must actually suffer the loss to be the beneficiary of the insurance. 3.2 The likelihood of loss needs to be predictable Insurance companies employ people called actuaries to predict the likelihood of losses. 3.3 The amount of loss must be financially measurable Some losses, like the loss of a life, are not easily measured. For such losses, insurance policies are written in specific amounts. Other policies, where losses and the likelihood of losses are more easily measured, may pay for the amount of the loss. 3.4 The losses must be fo