unit 16: insurance intermediaries financial english

Unit 16:Unit 16:

Insurance Insurance IntermediariesIntermediaries

Financial EnglishFinancial English

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Unit 16:Unit 16:

• Revision of Unit 15

• Background information of Unit 16

• Useful points of this unit

• Text

• ExercisesExercises

• AssignmentAssignment

Review of Unit 15Review of Unit 15

• Dictation

• Exercises

Revision of Unit 15Revision of Unit 15

DictationDictation

Dictation!Dictation!

You are going to hear 5 sentences. Each You are going to hear 5 sentences. Each

willwill

be read three times. Write down the sentences be read three times. Write down the sentences

according to what you hear.according to what you hear.

1.1. 2.2. 3.3. 4.4. 5.5.

Check-upCheck-upCheck-upCheck-up

Key to Dictation:Key to Dictation:1.1. Economic reforms led foreign enterprises to play a Economic reforms led foreign enterprises to play a

role in the revival of China's insurance industry role in the revival of China's insurance industry beginning in 1992.beginning in 1992.

2.2. Although the annual developing rate was so high, Although the annual developing rate was so high, China insurance industry was still a small part of the China insurance industry was still a small part of the entire economy and at a low level.entire economy and at a low level.

3.3. China’s accession to WTO offered more opportunities China’s accession to WTO offered more opportunities than challenges.than challenges.

4.4. To survive the difficulties, China's insurance industry To survive the difficulties, China's insurance industry should play its role of assurance and focus on should play its role of assurance and focus on guarantee instead of investment.guarantee instead of investment.

5.5. Insurance is becoming the most precious asset that a Insurance is becoming the most precious asset that a person can have invested in his own life.person can have invested in his own life.

DictationDictation

Fill in the blanks with proper words or phrases given below

Blanks fillingBlanks filling

thankthank prejudiceprejudice suitsuit have beenhave been

raterate

quotequote calculationcalculation fillfill companycompany

internationalinternational

thankthank prejudiceprejudice suitsuit have beenhave been

raterate

quotequote calculationcalculation fillfill companycompany

internationalinternational

Paul smith( P) is inquiring the determinationPaul smith( P) is inquiring the determination （决定）（决定） of the premium (of the premium ( 保费保费 )of )of Zhao Ming ( Z), an agent of PICC P&C.Zhao Ming ( Z), an agent of PICC P&C. P: I know your insurance ________ is the biggest one in China and ____________ enjoying its high prestige worldwide throughout these years. Your insurance coverage must be very comprehensive. How do you fix the premium rate?

Z: In principle, they vary with different cargoes, destinations, routes adopted and responsibilities in addition to the basis on statistic ____________ of the losses happened last year.

PP: How is your ________compared with that of international market?: How is your ________compared with that of international market?

ZZ: Our rates are in line with that in the world market. One of the references we : Our rates are in line with that in the world market. One of the references we take to fix our rates is the premium rate in the ________________ market.take to fix our rates is the premium rate in the ________________ market.

PP: Under what situation will the rates be reduced?: Under what situation will the rates be reduced?

ZZ: Take all the factors into account, if your case _________ some of these : Take all the factors into account, if your case _________ some of these factors, such as large quantity of goods to be shipped, short voyage, less factors, such as large quantity of goods to be shipped, short voyage, less extensive risk to be covered and so on, you may enjoy a little benefit from our extensive risk to be covered and so on, you may enjoy a little benefit from our lower rates.lower rates.

PP: Now I have a deal just concluded with one of your firms here. Is there : Now I have a deal just concluded with one of your firms here. Is there anything different if I anything different if I take out the insurancetake out the insurance （购买保险）（购买保险） with you?with you?

ZZ: Nothing different. We treat our customers on the same and equal terms, : Nothing different. We treat our customers on the same and equal terms, without any ___________ on foreign customers.without any ___________ on foreign customers.


PP: I’m glad to hear that. Then would you ________ your rates against All : I’m glad to hear that. Then would you ________ your rates against All Risks for 500,000 metric tons of sugar at US$18,000 from Tianjin to San Risks for 500,000 metric tons of sugar at US$18,000 from Tianjin to San Diego?Diego?

ZZ: Wait a minute. Totally the rates will be US$1080.: Wait a minute. Totally the rates will be US$1080.

PP: What other formalities should I go through?: What other formalities should I go through?

Z: Here is the application form. ____________ them out, please.Z: Here is the application form. ____________ them out, please.

PP: Would you please pass me a copy both Chinese and English?: Would you please pass me a copy both Chinese and English?

ZZ: Sorry, just a minute. Here you are.: Sorry, just a minute. Here you are.

PP: ____________ you very much.: ____________ you very much.



PP: I know your insurance : I know your insurance companycompany is the biggest one in China is the biggest one in China and and has beenhas been enjoying its high prestige worldwide throughout enjoying its high prestige worldwide throughout these years. Your insurance coverage must be very these years. Your insurance coverage must be very comprehensive. How do you fix the premium rate?comprehensive. How do you fix the premium rate?

ZZ: In principle, they vary with different cargoes, destinations, : In principle, they vary with different cargoes, destinations, routes adopted and responsibilities in addition to the basis on routes adopted and responsibilities in addition to the basis on statistic statistic calculationcalculation of the losses happened last year. of the losses happened last year.

PP: How is your : How is your raterate compared with that of international market? compared with that of international market?

ZZ: Our rates are in line with that in the world market. One of : Our rates are in line with that in the world market. One of the references we take to fix our rates is the premium rate in the the references we take to fix our rates is the premium rate in the international international market.market.

Check-upCheck-up

Check-upCheck-up

PP: Under what situation will the rates be reduced?: Under what situation will the rates be reduced?

ZZ: Take all the factors into account, if your case : Take all the factors into account, if your case suitssuits some of these factors, some of these factors, such as large quantity of goods to be shipped, short voyage, less extensive such as large quantity of goods to be shipped, short voyage, less extensive risk to be covered and so on, you may enjoy a little benefit from our lower risk to be covered and so on, you may enjoy a little benefit from our lower rates.rates.

PP: Now I have a deal just concluded with one of your firms here. Is there : Now I have a deal just concluded with one of your firms here. Is there

anything different if I take out the insurance anything different if I take out the insurance （购买保险）（购买保险） with you?with you?

ZZ: Nothing different. We treat our customers on the same and equal terms, : Nothing different. We treat our customers on the same and equal terms, without any without any prejudice prejudice on foreign customers.on foreign customers.

PP: I’m glad to hear that. Then would you : I’m glad to hear that. Then would you quote quote your rates against All Risks your rates against All Risks for 500,000 metric tons of sugar at US$18,000 from Tianjin to San Diego?for 500,000 metric tons of sugar at US$18,000 from Tianjin to San Diego?

Check-upCheck-up

ZZ: Wait a minute. Totally the rates will be US$1080.: Wait a minute. Totally the rates will be US$1080.

PP: What other formalities should I go through?: What other formalities should I go through?

ZZ: Here is the application form. : Here is the application form. Fill Fill them out, please.them out, please.

PP: Would you please pass me a copy both Chinese and English?: Would you please pass me a copy both Chinese and English?

ZZ: Sorry, just a minute. Here you are.: Sorry, just a minute. Here you are.

PP: : Thank Thank you very much.you very much.

Text : Background InformationText : Background Information

本章旨在介绍保险中介的概念，诠释保险中介存在

的必要性，宣传保险中介的功能，分析保险中介的收入构成，并研究中国保险中介市场。在保险商品的销售中，购买保险者（即投保人）大多缺乏对保险制度、保险商品的理解和选择保险商品的经验，所以在购买保险商品时，熟悉保险商品的补助者的存在是必不可少的。保险中介正是在保险人和投保人间起着桥梁作用的补助者。

本章旨在介绍保险中介的概念，诠释保险中介存在

的必要性，宣传保险中介的功能，分析保险中介的收入构成，并研究中国保险中介市场。在保险商品的销售中，购买保险者（即投保人）大多缺乏对保险制度、保险商品的理解和选择保险商品的经验，所以在购买保险商品时，熟悉保险商品的补助者的存在是必不可少的。保险中介正是在保险人和投保人间起着桥梁作用的补助者。

Text : Useful points of this unitText : Useful points of this unit

本章重点 :

通过本章学习，学生应该掌握

1 、保险中介的功能

2 、保险中介的收入

本章重点 :

通过本章学习，学生应该掌握

1 、保险中介的功能

2 、保险中介的收入

Unit 16:Unit 16:

16.1 Introduction to Insurance Intermediaries

16.2 The Income of Insurance Intermediaries

16.3 Functions of Insurance Intermediaries

MATCHMAKER

INSURANCE PLACEMENT

RISK MANAGEMENT

16.4 China’s Insurance intermediaries

ListeningListening

TextText

16.1 Introduction to Insurance 16.1 Introduction to Insurance

IntermediariesIntermediaries

16.1 Introduction to Insurance 16.1 Introduction to Insurance


Listen carefully to the first part of the text and then Listen carefully to the first part of the text and then try to translate some sentences. try to translate some sentences.

An insurance intermediary is an individual or firm that An insurance intermediary is an individual or firm that provides advice on insurance and can arrange policies. provides advice on insurance and can arrange policies. Insurance intermediary is an indispensable entity of Insurance intermediary is an indispensable entity of insurance market, which includes: insurance brokers, insurance market, which includes: insurance brokers, insurance agencies and insurance assessment institutions.insurance agencies and insurance assessment institutions. While some of these establishments are directly While some of these establishments are directly affiliated with a particular insurer and only sell that a particular insurer and only sell that carrier’s policies, many are independent and are thus carrier’s policies, many are independent and are thus free to market the policies of a variety of insurance free to market the policies of a variety of insurance carriers. Our focus is primarily on independent carriers. Our focus is primarily on independent intermediaries, i.e., brokers and independent agents.intermediaries, i.e., brokers and independent agents.

Text :Text :

Sentence TranslationSentence TranslationSentence TranslationSentence Translation

End of part 1End of part 1

Text : Text : Key toKey to TranslationTranslation

保险中介是可以为投保人提供保险建议并建立保险合同的个体或公司。保险中介是保险市场不可或缺的构成成分之一，包括保险代理人 / 公司、保险经纪人 /

公司、保险公估机构。

保险中介是可以为投保人提供保险建议并建立保险合同的个体或公司。保险中介是保险市场不可或缺的构成成分之一，包括保险代理人 / 公司、保险经纪人 /

公司、保险公估机构。

indispensable adj. not to be dispensed with; essential 不可缺少的；绝对必要的

entity n. something that exists as a particular and discrete unit 实体 , 实际并独立存在的事物

insurance brokers 保险代理人

insurance agency 保险代理公司

insurance assessment institutions 保险公估机构

indispensable adj. not to be dispensed with; essential 不可缺少的；绝对必要的

entity n. something that exists as a particular and discrete unit 实体 , 实际并独立存在的事物

insurance brokers 保险代理人

insurance agency 保险代理公司

insurance assessment institutions 保险公估机构

be affiliated withbe affiliated with … 与相关联的，附属于的… 与相关联的，附属于的

One of our affiliated companies is located in Hong Kong. One of our affiliated companies is located in Hong Kong.

我们有家关系企业位于香港。我们有家关系企业位于香港。

He is affiliated with good fellows.He is affiliated with good fellows.

他与好人交朋友。他与好人交朋友。

They affiliated themselves with the organization. They affiliated themselves with the organization.

他们加入了这个组织。他们加入了这个组织。

This hospital is affiliated with that university.This hospital is affiliated with that university.

这个医院是那所大学的附属医院。这个医院是那所大学的附属医院。

Text : Language PointsText : Language Points

ListeningListening

TextText

16.2 The Income of Insurance 16.2 The Income of Insurance


16.2 The Income of Insurance 16.2 The Income of Insurance


Listen carefully to the second part of the text and Listen carefully to the second part of the text and then try to understand it. then try to understand it.

Broker and agent Broker and agent compensation comprises premium-premium-

based commissions, expressed as a percentage of the based commissions, expressed as a percentage of the

premium paid for each policy, and premium paid for each policy, and contingent commissions, commissions,

also usually expressed as a percentage of premiums, based also usually expressed as a percentage of premiums, based

on factors such as the on factors such as the profitability, , persistency, and/or , and/or

volume of the business placed with the insurer. Larger volume of the business placed with the insurer. Larger

intermediaries also receive fees for particular services such intermediaries also receive fees for particular services such

as risk management, captive management, risk modeling, as risk management, captive management, risk modeling,

and claims settlement services. Sometimes brokers will and claims settlement services. Sometimes brokers will

negotiate fees negotiate fees in lieu of ordinary commissions. ordinary commissions.

Text :Text :

Premium-based commissions account typically for about Premium-based commissions account typically for about 10-11% of premiums, compared with an average of 1-2% 10-11% of premiums, compared with an average of 1-2% of premiums for contingent commissions. Premium-based of premiums for contingent commissions. Premium-based commissions constitute the vast majority of intermediary commissions constitute the vast majority of intermediary revenues, and contingent commissions account for about 4-revenues, and contingent commissions account for about 4-5% of brokers’ revenues. Intermediaries also receive some 5% of brokers’ revenues. Intermediaries also receive some non-cash compensation from insurers such as travel and non-cash compensation from insurers such as travel and vacation awards vacation awards in recognition of superior performance. It superior performance. It is noticed that most of the contingent commissions are is noticed that most of the contingent commissions are passed on to policyholders in the premium. However, passed on to policyholders in the premium. However, whether this harms or benefits policyholders is a matter of whether this harms or benefits policyholders is a matter of debate.debate.

Text :Text :


compensation compensation n. something (such as money) given or n. something (such as money) given or received as payment or reparation (as for a service or loss received as payment or reparation (as for a service or loss or injury) or injury) 补偿补偿 , , 赔偿金赔偿金 , , 薪资薪资

It's better for us to do total compensation trade.It's better for us to do total compensation trade.

对我们来说最好用全额补偿。对我们来说最好用全额补偿。


comprisecomprise vt. to consist of; be composed of vt. to consist of; be composed of … 由构成… 由构成 … ；由组成 … ；由组成

Twenty chapters comprise Book One. Twenty chapters comprise Book One.

第一卷有二十章。第一卷有二十章。The committee comprises five persons. The committee comprises five persons.

该委员会由五人组成。该委员会由五人组成。

profitabilityprofitability n. the quality of affording gain or benefit or n. the quality of affording gain or benefit or profit profit 盈利能力盈利能力 , , 获利能力获利能力The managing director is interested only in increasing profitability. The managing director is interested only in increasing profitability.

总经理仅对提高利润率感兴趣。总经理仅对提高利润率感兴趣。


contingent contingent adj. liable to occur but not with certainty; possible. adj. liable to occur but not with certainty; possible. 可能的：可能但又有不确定性的；可能的可能的：可能但又有不确定性的；可能的

Such risks are contingent to the trade. Such risks are contingent to the trade.

这种风险在经商中是可能发生的。这种风险在经商中是可能发生的。

They had to plan for contingent expenses.They had to plan for contingent expenses.

他们不得不为可能的花费作计划。他们不得不为可能的花费作计划。

persistencypersistency n. persistent determination n. persistent determination 持续持续I was nettled by her persistency.I was nettled by her persistency.

我被她的固执惹恼了。我被她的固执惹恼了。

Provided the dunce have persistency and application, he will inevitably Provided the dunce have persistency and application, he will inevitably head head

the clever fellow without those quality. the clever fellow without those quality.

持之以恒、专业致志的笨人必然胜过有始无终、三心二意的智者持之以恒、专业致志的笨人必然胜过有始无终、三心二意的智者。。


in lieu ofin lieu of 代替代替

Childrem watched TV in lieu of doing their home work. Childrem watched TV in lieu of doing their home work.

孩子们观看了电视代替做他们的作业。孩子们观看了电视代替做他们的作业。

in recognition of in recognition of 为酬答为酬答 ......而而 ;;按照按照 ( ( 功劳等功劳等 )...)...

Deified mortals are revered in recognition of their feats. Deified mortals are revered in recognition of their feats.

有些本属凡人的神明，因曾立下大功而受人崇拜。有些本属凡人的神明，因曾立下大功而受人崇拜。

act or give something in recognition of someone's behavior. act or give something in recognition of someone's behavior.

为酬答某人的行为而奖给他东西。为酬答某人的行为而奖给他东西。

Natural spectral peaks of the vocal tract that aid in the recognition Natural spectral peaks of the vocal tract that aid in the recognition

of speech sounds. of speech sounds.

声道的自然频谱峰值，帮助语音识别。声道的自然频谱峰值，帮助语音识别。


ListeningListening

TextText

16.3 Functions of Insurance 16.3 Functions of Insurance IntermediariesIntermediaries


Listen carefully to the third part of the text and Listen carefully to the third part of the text and then try to translate some sentences. then try to translate some sentences.

In most of the insurance markets, the intermediary plays In most of the insurance markets, the intermediary plays

the role of “market maker,” helping buyers to match with the role of “market maker,” helping buyers to match with

appropriate insurers, to identify their coverage before placing appropriate insurers, to identify their coverage before placing

insurance and to guide them to manage risks.insurance and to guide them to manage risks.

Insurance is a complex product representing a promise to Insurance is a complex product representing a promise to

compensate the insured or a third party according to specified compensate the insured or a third party according to specified

terms and conditions should some well-defined contingent terms and conditions should some well-defined contingent

event occur. It requires complex language to simply describe event occur. It requires complex language to simply describe

the obligation of insurance. the obligation of insurance.

Text :Text :

However, the buyer’s decision is made even more difficult because the value of the insurer’s promise depends both on the reputation of the insurance company for paying losses quickly and without fuss over the financial capability of the insurer to meet these obligations. Thus, the buyer of insurance faces the daunting task of first deciding what sort of insurance protection is needed for the risks given, and then comparing policies offering alternative coverage at different prices from several insurers with different levels of credit risk and varying reputations for claims settlement and policyholder services.

Text :Text :

Sentence TranslationSentence TranslationSentence TranslationSentence Translation

In most insurance transactions, there is an In most insurance transactions, there is an intermediary, usually an insurance agent or broker, intermediary, usually an insurance agent or broker, between the buyer and the insurer. Brokers are between the buyer and the insurer. Brokers are traditionally described as agents of the policyholder and traditionally described as agents of the policyholder and insurance agents as agents of insurers; this separation is insurance agents as agents of insurers; this separation is more a matter of emphasis than a more a matter of emphasis than a watertight division. Both division. Both agents and brokers often perform services such as record agents and brokers often perform services such as record keeping and modeling for insurers, provide advice to keeping and modeling for insurers, provide advice to clients on selecting insurers, and assist with claims clients on selecting insurers, and assist with claims settlement. Agents and brokers also play a key role in settlement. Agents and brokers also play a key role in providing underwriting information to insurers.providing underwriting information to insurers.

Text :Text :


Text : Text : Key toKey to TranslationTranslation

但是，保险公司的承诺到底价值几何不仅取决于保险公司在快速赔付方面的声誉还与其偿还债务的财力相关，这使得保险购买者很难下决定。想要买保险就要面临任务量超大的工作：首先要选定保险的种类而后要拿多家保险公司的保险单对比保费价格，承保范围，赔付能力以及售后服务。

但是，保险公司的承诺到底价值几何不仅取决于保险公司在快速赔付方面的声誉还与其偿还债务的财力相关，这使得保险购买者很难下决定。想要买保险就要面临任务量超大的工作：首先要选定保险的种类而后要拿多家保险公司的保险单对比保费价格，承保范围，赔付能力以及售后服务。

fuss over 过分关心 , 大惊小怪

Don't make so much fuss over the children.Don't make so much fuss over the children.

不要对孩子照顾得太过分不要对孩子照顾得太过分 ..

I don't want to make a fuss over such a trifle.I don't want to make a fuss over such a trifle.

我不想为这种小事大惊小怪。我不想为这种小事大惊小怪。


daunting adj.making someone feel nervous and less confident about doing something 令人畏惧的，可怕的

The new job was a bit daunting at first but it was all right once I'd got my eye in.

一开始，那个新工作有点使人灰心丧气，但是一旦我获得了需要的能力，也就没什么了。

daunting adj.making someone feel nervous and less confident about doing something 令人畏惧的，可怕的

The new job was a bit daunting at first but it was all right once I'd got my eye in.

一开始，那个新工作有点使人灰心丧气，但是一旦我获得了需要的能力，也就没什么了。

watertight adj. impossible to fault, refute, or evade

不可能错误、反驳或回避的

A watertight alibi; a watertight contract. A watertight alibi; a watertight contract.

无懈可击的借口；严密的合同无懈可击的借口；严密的合同

The ship's hold is built in watertight compartments. The ship's hold is built in watertight compartments.

船舱建造成许多不漏水的隔间。船舱建造成许多不漏水的隔间。


ListeningListening

TextText


MATCHMAKERMATCHMAKER


MATCHMAKERMATCHMAKER

Listen carefully to the fourth part of the text and Listen carefully to the fourth part of the text and then try to understand it. then try to understand it.

All insurance intermediaries, agents and brokers, are essentially All insurance intermediaries, agents and brokers, are essentially matchmakers who match the insurance needs of policyholders with matchmakers who match the insurance needs of policyholders with insurers who have the capability of meeting those needs. The insurers who have the capability of meeting those needs. The matchmaking or “market making” role through which buyers are matchmaking or “market making” role through which buyers are matched with insurers is a complex, matched with insurers is a complex, multidimensional process. The role of process. The role of the intermediary is to scan the market, match buyers with insurers who the intermediary is to scan the market, match buyers with insurers who have the skill, capacity, risk appetite, and financial strength to have the skill, capacity, risk appetite, and financial strength to underwrite the risk, and then help their client select from competing underwrite the risk, and then help their client select from competing offers.offers. Price is important but is only one of several Price is important but is only one of several criteria that buyers that buyers consider in deciding upon the insurer or insurers that provide their consider in deciding upon the insurer or insurers that provide their coverage. Also important are the breadth of coverage offered by coverage. Also important are the breadth of coverage offered by competing insurers, the risk management services provided, the insurer’s competing insurers, the risk management services provided, the insurer’s reputation for claims settlement and financial strength, and other reputation for claims settlement and financial strength, and other factors.factors.

Text :Text :


multidimensional multidimensional adj. of, relating to, or having several adj. of, relating to, or having several dimensions dimensions 多维的多维的

multidimensional problemsmultidimensional problems 多方面的问题多方面的问题

a multidimensional propositiona multidimensional proposition 多方面的主张多方面的主张

a multidimensional personalitya multidimensional personality 多维人格多维人格


criteriacriteria n. the plural form of criterion, meaning n. the plural form of criterion, meaning standard, rule, or test on which a judgment or decision standard, rule, or test on which a judgment or decision can be based. can be based. 一种基以做出判断或决定的标准、一种基以做出判断或决定的标准、准则或测试准则或测试

criteriacriteria n. the plural form of criterion, meaning n. the plural form of criterion, meaning standard, rule, or test on which a judgment or decision standard, rule, or test on which a judgment or decision can be based. can be based. 一种基以做出判断或决定的标准、一种基以做出判断或决定的标准、准则或测试准则或测试

ListeningListening

TextText

16.3 Functions of Insurance 16.3 Functions of Insurance


INSURANCE PLACEMENTINSURANCE PLACEMENT



INSURANCE PLACEMENTINSURANCE PLACEMENT

Listen carefully to the fifth part of the text and then Listen carefully to the fifth part of the text and then try to understand it. try to understand it.

Insurance intermediaries will go through the competitive Insurance intermediaries will go through the competitive market in search of the best placement for their client. It is market in search of the best placement for their client. It is common for the coverage not to be placed with the low bidder. common for the coverage not to be placed with the low bidder. In the case of very large risks, coverage is likely to be In the case of very large risks, coverage is likely to be syndicated over many insurers, requiring considerable skill on over many insurers, requiring considerable skill on the part of the intermediary. The integrity of the placement the part of the intermediary. The integrity of the placement process recently has been questioned as a result of process recently has been questioned as a result of allegations of of bid rigging in which one or more in which one or more mega-brokers and a few -brokers and a few insurers appear to have insurers appear to have conspired to to feign competition by competition by submitting non-competitive bids. Clearly the non-competitive bids. Clearly the integrity of the of the bidding process is bidding process is vitally important to the health of the market. important to the health of the market.

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However, it is important to distinguish the natural variation in However, it is important to distinguish the natural variation in

bidding practice that emerges in a normal market from illegal bidding practice that emerges in a normal market from illegal

activities. For their part, insurers are invited to provide activities. For their part, insurers are invited to provide

quotations on complex risks. Given the quotations on complex risks. Given the variation among among

insurers in their available capacity, their market insurers in their available capacity, their market niches, the , the

distribution of risk in their distribution of risk in their portfolios, the information they , the information they

have about the risk and their relationship with the intermediary have about the risk and their relationship with the intermediary

who is placing the business, quotations will vary with some who is placing the business, quotations will vary with some

insurers possibly insurers possibly declining to quote. to quote.

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syndicatesyndicate vt. to organize into or manage as an association of people vt. to organize into or manage as an association of people or firms authorized to undertake a duty or transact specific business. or firms authorized to undertake a duty or transact specific business. 把把……组成辛迪加组成辛迪加 (( 授权承担某项责任或进行特定的商业交易的人们授权承担某项责任或进行特定的商业交易的人们或公司的联合体或公司的联合体 ))


allegationallegation n. a statement asserting something without proof n. a statement asserting something without proof 断言断言 ,,主观臆测主观臆测

The lawyer's allegation was proved. The lawyer's allegation was proved.

律师的辩解已被证明属实。律师的辩解已被证明属实。

The minister issued a prompt denial of the allegation against him. The minister issued a prompt denial of the allegation against him.

部长迅速否认对他的不利断言。部长迅速否认对他的不利断言。

allegationallegation n. a statement asserting something without proof n. a statement asserting something without proof 断言断言 ,,主观臆测主观臆测

The lawyer's allegation was proved. The lawyer's allegation was proved.

律师的辩解已被证明属实。律师的辩解已被证明属实。

The minister issued a prompt denial of the allegation against him. The minister issued a prompt denial of the allegation against him.

部长迅速否认对他的不利断言。部长迅速否认对他的不利断言。bid rigging 操纵投标 ; 串通投标 ( 投标方共谋确定中标价格或

条件，以及投标双方商定一方不参与投标，或条件差的投标方故意出高价，或轮流抬价，使所有竞标方价格提高。 )

bid rigging 操纵投标 ; 串通投标 ( 投标方共谋确定中标价格或条件，以及投标双方商定一方不参与投标，或条件差的投标

方故意出高价，或轮流抬价，使所有竞标方价格提高。 )

mega-mega- prefix, meaning large prefix, meaning large “ ”前缀大的“ ”前缀大的

mega homeworkmega homework 许多家庭作业许多家庭作业

These inspiring structures can tantalize and evoke emotions not These inspiring structures can tantalize and evoke emotions not normally associated with mega structures. normally associated with mega structures.

与其它大型建筑不同的是，这些令人震撼的设施常让人热血沸腾。与其它大型建筑不同的是，这些令人震撼的设施常让人热血沸腾。


conspireconspire vt. to plan or plot secretly vt. to plan or plot secretly 阴谋策划阴谋策划

People always conspire to keep the truth from me.People always conspire to keep the truth from me.

人们总是串通一气不把实情告诉我。人们总是串通一气不把实情告诉我。

He was charged with conspiring against the government.He was charged with conspiring against the government.

他被指控密谋推翻政府。他被指控密谋推翻政府。

conspireconspire vt. to plan or plot secretly vt. to plan or plot secretly 阴谋策划阴谋策划

People always conspire to keep the truth from me.People always conspire to keep the truth from me.

人们总是串通一气不把实情告诉我。人们总是串通一气不把实情告诉我。

He was charged with conspiring against the government.He was charged with conspiring against the government.

他被指控密谋推翻政府。他被指控密谋推翻政府。

submitsubmit vt. To offer vt. To offer 提交，递交提交，递交

submit a plan submit a plan 提出一项计划提出一项计划

submit a case to the courtsubmit a case to the court 向法院提出诉讼向法院提出诉讼

Submit a dispute to law.Submit a dispute to law. 将争端诉诸法律将争端诉诸法律


feign vt. pretend to 假装

Some animal feign death when in danger.

有些动物遇危险时便装死。

The writer feigns many a myth.

作者想象出许多神话。

feign vt. pretend to 假装

Some animal feign death when in danger.

有些动物遇危险时便装死。

The writer feigns many a myth.

作者想象出许多神话。

integrity integrity n. steadfast adherence to a strict moral or n. steadfast adherence to a strict moral or ethical code ethical code 廉正，诚实廉正，诚实

All respected him for his integrity. All respected him for his integrity.

他为人正直，大家都尊敬他。他为人正直，大家都尊敬他。

I'm rather doubtful about his integrity. I'm rather doubtful about his integrity.

我对这事的忠诚颇有怀疑。我对这事的忠诚颇有怀疑。


vitally vitally adv. extremely, in an essential way adv. extremely, in an essential way 极其，绝极其，绝对对

It is vitally important to cancel the order immediately.It is vitally important to cancel the order immediately.

最重要的是要立即取消这一定单最重要的是要立即取消这一定单 ..

The way we choose to bring up children is vitally important. The way we choose to bring up children is vitally important.

抚养子女选用何种方式是极其重要的。抚养子女选用何种方式是极其重要的。

variation variation n. The extent or degree to which something n. The extent or degree to which something varies varies 变化范围或变化程度变化范围或变化程度

the variation of opinion the variation of opinion

意见的改变意见的改变

The prices for food are subject to variation. The prices for food are subject to variation.

食品的价格可能变更。食品的价格可能变更。


nicheniche n. a special area of demand for a product or service n. a special area of demand for a product or service

产品或服务所需的特殊领域产品或服务所需的特殊领域 , , 定位定位

He found the right niche for himself. He found the right niche for himself.

他发现了一个适合他的职位。他发现了一个适合他的职位。

portfolioportfolio n. a group of investments n. a group of investments 一组投资一组投资My stockbroker manages my portfolio for me.My stockbroker manages my portfolio for me.

我的证券经纪人替我管理投资组合我的证券经纪人替我管理投资组合 ..


decline decline 谢绝，拒绝谢绝，拒绝decline an offer decline an offer

拒绝请求拒绝请求

decline to answer a question decline to answer a question

拒绝回答问题拒绝回答问题

Do not decline an invitation to dinner. Do not decline an invitation to dinner.

不要谢绝吃饭的邀请。不要谢绝吃饭的邀请。

ListeningListening

TextText



RISK MANAGEMENTRISK MANAGEMENT



RISK MANAGEMENTRISK MANAGEMENT

Listen carefully to the sixth part of the text and Listen carefully to the sixth part of the text and then try to translate some sentences. then try to translate some sentences.

In addition to placement of insurance, insurance In addition to placement of insurance, insurance intermediaries also help their clients understand and measure intermediaries also help their clients understand and measure their risk, while giving them advice on how insurance can their risk, while giving them advice on how insurance can alleviate the costs of risk, help design insurance coverage the costs of risk, help design insurance coverage programs, and assist with claims settlement. Intermediaries programs, and assist with claims settlement. Intermediaries often provide other functions such as risk modeling, risk often provide other functions such as risk modeling, risk management consulting, management of captive insurance management consulting, management of captive insurance companies, asset management, etc.companies, asset management, etc. These latter services are These latter services are more likely to be provided by the larger brokerage firms.more likely to be provided by the larger brokerage firms.

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Sentence TranslationSentence Translation

Intermediaries play a vital role in Intermediaries play a vital role in soliciting quotations quotations for complex risks and in helping clients make comparisons for complex risks and in helping clients make comparisons on the basis of price, coverage, service and the financial on the basis of price, coverage, service and the financial strength of the insurer. For their part, insurers often quote strength of the insurer. For their part, insurers often quote prices on the basis of information from its own risk analysis prices on the basis of information from its own risk analysis or provided by intermediaries. These quotations are often or provided by intermediaries. These quotations are often competitive if the insurer believes it has good information competitive if the insurer believes it has good information about the level of risk. However, insurers will often offer about the level of risk. However, insurers will often offer non-competitive bids, or decline to quote, if information is non-competitive bids, or decline to quote, if information is incomplete (the “winner’s curse”).incomplete (the “winner’s curse”).

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This means that price quotations may vary considerably in This means that price quotations may vary considerably in their competitiveness. The role of the intermediary is to their competitiveness. The role of the intermediary is to increase price and quality competitiveness, by providing the increase price and quality competitiveness, by providing the insured access to a wider range of possible insurers. insured access to a wider range of possible insurers. However, contingent commissions, particularly those based However, contingent commissions, particularly those based on profit, may further on profit, may further stimulate competitive bidding. By competitive bidding. By aligning its interest with that of the intermediary, the insurer its interest with that of the intermediary, the insurer will have more confidence in the selection of risks and in the will have more confidence in the selection of risks and in the information provided by the intermediary. This will help information provided by the intermediary. This will help break the “winner’s curse” and encourage insurers to bid break the “winner’s curse” and encourage insurers to bid more aggressively.more aggressively.

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保险中介不仅建立保险关系还可以帮助客户了解和评估他们保险中介不仅建立保险关系还可以帮助客户了解和评估他们所承担的风险，帮助他们分析如何利用保险降低其风险损失，所承担的风险，帮助他们分析如何利用保险降低其风险损失，确定合理的保险范围，并且帮助客户获得合理赔偿。保险中确定合理的保险范围，并且帮助客户获得合理赔偿。保险中介可以提供的其它功能还有风险模型确定、风险管理咨询、介可以提供的其它功能还有风险模型确定、风险管理咨询、资产管理以及承保公司的管理等。首先，我国是一个自然灾资产管理以及承保公司的管理等。首先，我国是一个自然灾害多发的国家。地震、台风、洪水等多种自然灾害频频造访，害多发的国家。地震、台风、洪水等多种自然灾害频频造访，日均损失高达日均损失高达 1717，， 000000，， 000000美金。美金。

Key to Translation :Key to Translation :


alleviate alleviate vt. to make (pain, for example) more bearable vt. to make (pain, for example) more bearable 减减

轻轻 ,, 使（痛苦等）更易于忍受使（痛苦等）更易于忍受

Alleviate burdens on sb. Alleviate burdens on sb.

减负减负

The doctor gave her an injection to alleviate the pain. The doctor gave her an injection to alleviate the pain.

医生给她注射以减轻疼痛医生给她注射以减轻疼痛 ..

We want to help alleviate the national food shortage.We want to help alleviate the national food shortage.

我们想帮助缓解国家粮食短缺的状况。我们想帮助缓解国家粮食短缺的状况。

alleviate alleviate vt. to make (pain, for example) more bearable vt. to make (pain, for example) more bearable 减减

轻轻 ,, 使（痛苦等）更易于忍受使（痛苦等）更易于忍受

Alleviate burdens on sb. Alleviate burdens on sb.

减负减负

The doctor gave her an injection to alleviate the pain. The doctor gave her an injection to alleviate the pain.

医生给她注射以减轻疼痛医生给她注射以减轻疼痛 ..

We want to help alleviate the national food shortage.We want to help alleviate the national food shortage.

我们想帮助缓解国家粮食短缺的状况。我们想帮助缓解国家粮食短缺的状况。


solicitsolicit vt. to seek to obtain by persuasion, entreaty, or vt. to seek to obtain by persuasion, entreaty, or

formal application formal application 请求请求 , , 恳求恳求 , , 征求征求 ( for)( for)

solicit sb. for help solicit sb. for help

请求某人帮助请求某人帮助

We solicit your specific inquiry. We solicit your specific inquiry.

希望接到你们的具体询盘。希望接到你们的具体询盘。

We solicit a continuance of your patronage. We solicit a continuance of your patronage.

恳请继续对我们赞助。恳请继续对我们赞助。

solicitsolicit vt. to seek to obtain by persuasion, entreaty, or vt. to seek to obtain by persuasion, entreaty, or

formal application formal application 请求请求 , , 恳求恳求 , , 征求征求 ( for)( for)

solicit sb. for help solicit sb. for help

请求某人帮助请求某人帮助

We solicit your specific inquiry. We solicit your specific inquiry.

希望接到你们的具体询盘。希望接到你们的具体询盘。

We solicit a continuance of your patronage. We solicit a continuance of your patronage.

恳请继续对我们赞助。恳请继续对我们赞助。


stimulate stimulate vt. to rouse to activity or heightened action, vt. to rouse to activity or heightened action, as by spurring or goading as by spurring or goading 激发：激发活动或更激发：激发活动或更

兴奋的活动，如通过刺激或激励兴奋的活动，如通过刺激或激励

Exercise stimulates the flow of blood. Exercise stimulates the flow of blood.

体操促进血液流动。体操促进血液流动。

stimulate stimulate vt. to rouse to activity or heightened action, vt. to rouse to activity or heightened action, as by spurring or goading as by spurring or goading 激发：激发活动或更激发：激发活动或更

兴奋的活动，如通过刺激或激励兴奋的活动，如通过刺激或激励

Exercise stimulates the flow of blood. Exercise stimulates the flow of blood.

体操促进血液流动。体操促进血液流动。

align withalign with 与与……合作，结盟合作，结盟She aligned herself with the liberals.She aligned herself with the liberals.

她与自由主义者合作她与自由主义者合作

She neatly aligned the flower pots on the window sill.She neatly aligned the flower pots on the window sill.

她把花盆整齐地排成一行在窗台上。她把花盆整齐地排成一行在窗台上。

align withalign with 与与……合作，结盟合作，结盟She aligned herself with the liberals.She aligned herself with the liberals.

她与自由主义者合作她与自由主义者合作

She neatly aligned the flower pots on the window sill.She neatly aligned the flower pots on the window sill.

她把花盆整齐地排成一行在窗台上。她把花盆整齐地排成一行在窗台上。

ListeningListening

TextText

16.4 China’s Insurance intermediaries16.4 China’s Insurance intermediaries16.4 China’s Insurance intermediaries16.4 China’s Insurance intermediaries

Listen carefully to the seventh part of the text and Listen carefully to the seventh part of the text and then try to translate some sentences. then try to translate some sentences.

The development of insurance intermediary market could in a The development of insurance intermediary market could in a sense reflect the maturity of a country's insurance market. sense reflect the maturity of a country's insurance market. China's insurance intermediary market, after a dozen years China's insurance intermediary market, after a dozen years development, has become an integral and important part of development, has become an integral and important part of insurance industry.insurance industry.

According to the data released by CIRC (the China Insurance According to the data released by CIRC (the China Insurance Regulatory Commission), in the first half of year 2008, insurance Regulatory Commission), in the first half of year 2008, insurance companies in China achieved premium revenue amounting to companies in China achieved premium revenue amounting to RMB 441.582 billion Yuan through intermediary channel, RMB 441.582 billion Yuan through intermediary channel, accounting for 78.6 percent of the total premium revenue.accounting for 78.6 percent of the total premium revenue. At At present, there are 2381 professional intermediaries, 151.6 present, there are 2381 professional intermediaries, 151.6 thousand thousand concurrent-business insurance agencies, and 2.2186 insurance agencies, and 2.2186 million salesmen in China, being 14.8 times, 1.6 times and 2.1 million salesmen in China, being 14.8 times, 1.6 times and 2.1 times of the figure in 2002 respectively.times of the figure in 2002 respectively.

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After a decade of development, insurance intermediary market has taken shape initially and has formed an orderly-competition market pattern, and the market is notably more capable in serving the development of the economy, the society and insurance industry. Taking insurance broker as example, lots of Taking insurance broker as example, lots of companies have joined in some big projects. companies have joined in some big projects. Infrastructure construction projects, such as construction projects, such as South-to-North water diversion, , West-East natural gas transmission project, , Hangzhou Bay Bridge, , Gezhouba Hydropower Station, , Qinghai-Tibet Railway, have become important bridges , have become important bridges and ties between insurance companies and insurance and ties between insurance companies and insurance applicants.applicants.

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Jiang Tai Insurance Broker Co., Ltd., the first comprehensive Jiang Tai Insurance Broker Co., Ltd., the first comprehensive insurance broker in China, signed an insurance brokerage insurance broker in China, signed an insurance brokerage service entrusting agreement with service entrusting agreement with China Meteorological Administration and confirmed the and confirmed the company's role as an insurance broker of Fengyun series company's role as an insurance broker of Fengyun series meteorological satellites.meteorological satellites.

The sum insured of "The sum insured of "FY-2D"was as high as RMB 397 "was as high as RMB 397 million Yuan. So far Jiang Tai has arranged 15 property million Yuan. So far Jiang Tai has arranged 15 property insurance companies to jointly underwrite the project, and insurance companies to jointly underwrite the project, and International Space Broker Group was the re-insurance International Space Broker Group was the re-insurance broker of the project.broker of the project. Obviously, as an important sales Obviously, as an important sales channel of insurance products and an important link of channel of insurance products and an important link of insurance industry chain,insurance industry chain,

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insurance intermediaries are offering more comprehensive insurance intermediaries are offering more comprehensive insurance guarantee for the society and promoting the insurance guarantee for the society and promoting the development of social economy together by handing with development of social economy together by handing with insurance companies.insurance companies.

In recent years, lots of new operation modes emerged In recent years, lots of new operation modes emerged in insurance intermediary market, and innovation becomes an in insurance intermediary market, and innovation becomes an internal internal impetus. . Cninsure Inc. is a typical example. Cninsure Inc. is a typical example. Cninsure Inc. conducts insurance intermediary business through the Inc. conducts insurance intermediary business through the mode of "Back-up Platform + Individual Innovation", offering mode of "Back-up Platform + Individual Innovation", offering platform for small-scaled insurance brokers that are lack of platform for small-scaled insurance brokers that are lack of centripetal force and for independent insurance brokers and force and for independent insurance brokers and agencies that are eager to open shops.agencies that are eager to open shops.

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At present, Cninsure Inc. owns 27 agencies, 5 brokers, and At present, Cninsure Inc. owns 27 agencies, 5 brokers, and 3 assessment companies. It is the biggest insurance 3 assessment companies. It is the biggest insurance intermediary group in China.intermediary group in China.

Some other intermediaries companies Some other intermediaries companies adopt column alliance in market expansion. Jiangsu Huabang Insurance alliance in market expansion. Jiangsu Huabang Insurance Agency Co. Ltd., established at the beginning of 2008, has Agency Co. Ltd., established at the beginning of 2008, has united with 12 insurance agencies in Nanjing.united with 12 insurance agencies in Nanjing. As soon as As soon as insurance companies are concerned, more and more insurance companies are concerned, more and more insurance companies are joining hands with insurance companies are joining hands with intermediaries by new methods and conducting product intermediaries by new methods and conducting product sales sales relying on intermediary's networks.intermediary's networks.

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Many insurance companies specially set up their own Many insurance companies specially set up their own intermediary department to build and maintain intermediary department to build and maintain intermediary channel in professional ways. Aviva-COFCO intermediary channel in professional ways. Aviva-COFCO Life Insurance Co., Ltd. took the lead. The company Life Insurance Co., Ltd. took the lead. The company started brokerage and agent business in 2004 when it started brokerage and agent business in 2004 when it entered Beijing market, that is to say, the company selected entered Beijing market, that is to say, the company selected to utilize sales channels of insurance brokers and agencies to utilize sales channels of insurance brokers and agencies to enter Beijing life insurance market. This is a unique to enter Beijing life insurance market. This is a unique mode. Now the brokerage and agency business of Aviva-mode. Now the brokerage and agency business of Aviva-COFCO Life is getting more mature.COFCO Life is getting more mature.

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It can be seen that because of the continuous It can be seen that because of the continuous innovation of developing mode, intermediary market has innovation of developing mode, intermediary market has obtained a quick development in recent years. Some prefer obtained a quick development in recent years. Some prefer scaled development and set up insurance intermediary group, scaled development and set up insurance intermediary group, some adopt "insurance + professional intermediaries" mode. some adopt "insurance + professional intermediaries" mode. Regardless of the mode, the insurance products sales and Regardless of the mode, the insurance products sales and service extension of intermediaries are promoted.service extension of intermediaries are promoted.

On the whole, now China's insurance intermediary On the whole, now China's insurance intermediary

market begin to enter sound development track.market begin to enter sound development track.

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Sentence TranslationSentence Translation

可以看出，由于不断创新发展模式，（中国）保险中介市场近可以看出，由于不断创新发展模式，（中国）保险中介市场近年来发展迅速。一些中介机构倾向于规模化发展，并组建了保年来发展迅速。一些中介机构倾向于规模化发展，并组建了保险中介集团；而另一些结构则采取了“保险险中介集团；而另一些结构则采取了“保险 ++ 职业中介”的发职业中介”的发展模式。不管是哪种模式下，保险产品的销量有了提高，保险展模式。不管是哪种模式下，保险产品的销量有了提高，保险中介的服务领域也得以延伸。中介的服务领域也得以延伸。

Key to Translation :Key to Translation :

concurrentconcurrent adj. taking place at the same time or in the same adj. taking place at the same time or in the same locationlocation 同时发生的同时发生的 ,, 一致的一致的

concurrent businessconcurrent business 兼业兼业concurrent postconcurrent post 兼职兼职

concurrent insurance [policy] concurrent insurance [policy]

( ( 对于一投保物的对于一投保物的 ) ) 共同保险（合同）共同保险（合同）

It is to make room for the young and middle-aged cadres that we It is to make room for the young and middle-aged cadres that we have proposed reducing concurrent posts and eliminating over-have proposed reducing concurrent posts and eliminating over-concentration of power. concentration of power.

这次我们提出减少兼职过多、权力过分集中的现象，目的之一，这次我们提出减少兼职过多、权力过分集中的现象，目的之一，也是为了给中青年同志腾出台阶。也是为了给中青年同志腾出台阶。


notablynotably adv. particularly or especially; in a way worthy of being adv. particularly or especially; in a way worthy of being noted noted 显著地；尤其；特别显著地；尤其；特别Weaponry and equipment management capability has been notably Weaponry and equipment management capability has been notably enhanced.enhanced.

武器装备管理能力明显增强。武器装备管理能力明显增强。Many members were absent, notably the vice-chairman. Many members were absent, notably the vice-chairman.

许多成员都缺席，特别是副主席也未到场。许多成员都缺席，特别是副主席也未到场。


South-to-North water diversionSouth-to-North water diversion 南水北调的总体布局为：分别从长南水北调的总体布局为：分别从长

江上、中、下游调水，以适应西北、华北各地的发展需要江上、中、下游调水，以适应西北、华北各地的发展需要

infrastructureinfrastructure n. the basic facilities, services, and n. the basic facilities, services, and installations needed for the functioning of a community or installations needed for the functioning of a community or society society 基础设施基础设施

West-East natural gas transmission projectWest-East natural gas transmission project “ “ ” 西气东输工” 西气东输工程是将我国西部尤其是塔里木盆地的天然气采取干支结程是将我国西部尤其是塔里木盆地的天然气采取干支结

合、配套建设方式通过建设目前我国距离最长、口径最合、配套建设方式通过建设目前我国距离最长、口径最大的输气管道运送至东部地区。大的输气管道运送至东部地区。

Hangzhou Bay BridgeHangzhou Bay Bridge 杭州湾大桥是一座我国自行设计、杭州湾大桥是一座我国自行设计、建造和管理的世界最长跨海大桥。建造和管理的世界最长跨海大桥。

Gezhouba Hydropower StationGezhouba Hydropower Station 葛洲坝水电站是中国长江葛洲坝水电站是中国长江干流上的第一座大型水利枢纽，兼顾兴利，防洪和通航干流上的第一座大型水利枢纽，兼顾兴利，防洪和通航

功能。功能。

Qinghai-Tibet RailwayQinghai-Tibet Railway 青藏铁路由青海省西宁市至西藏青藏铁路由青海省西宁市至西藏自治区拉萨市，全长自治区拉萨市，全长 19561956公里。公里。



China Meteorological AdministrationChina Meteorological Administration 中国气象局是国务中国气象局是国务院直属事业单位。它的前身是中央军委气象局，成院直属事业单位。它的前身是中央军委气象局，成立于立于 19491949年年 1212月。月。

FY-2DFY-2D 风云二号风云二号 DD卫星是我国第一代静止气象卫星是我国第一代静止气象卫星中的一颗业务星，卫星中的一颗业务星，其作用是获取白天可见光云图、昼夜红外云图和水气分布图，进行天气图传真广播，供国内外气象资料利用站接收利用，收集气象、水文和海洋等数据收集平台的气象监测数据，监测太阳活动和卫星所处轨道的空间环境，为卫星工程和空间环境科学研究提供监测数据。

China Meteorological AdministrationChina Meteorological Administration 中国气象局是国务中国气象局是国务院直属事业单位。它的前身是中央军委气象局，成院直属事业单位。它的前身是中央军委气象局，成立于立于 19491949年年 1212月。月。

FY-2DFY-2D 风云二号风云二号 DD卫星是我国第一代静止气象卫星是我国第一代静止气象卫星中的一颗业务星，卫星中的一颗业务星，其作用是获取白天可见光云图、昼夜红外云图和水气分布图，进行天气图传真广播，供国内外气象资料利用站接收利用，收集气象、水文和海洋等数据收集平台的气象监测数据，监测太阳活动和卫星所处轨道的空间环境，为卫星工程和空间环境科学研究提供监测数据。

impetusimpetus n. increased activity in response to a stimulus n. increased activity in response to a stimulus 动力动力 , , 推动力推动力

The debate seems to have lost much of its initial impetus.The debate seems to have lost much of its initial impetus.

辩论会似乎没有开始时那么大的冲劲了。辩论会似乎没有开始时那么大的冲劲了。

His articles provided the main impetus for change.His articles provided the main impetus for change.

他的那些文章是促进变革的主要推动力。他的那些文章是促进变革的主要推动力。


centripetal forcecentripetal force 向心力向心力centripetal forcecentripetal force 向心力向心力

Cninsure Inc.Cninsure Inc. 泛华保险服务集团泛华保险服务集团 (( 下称“泛华集下称“泛华集团”团” )) 是亚洲第一家在全球主要资本市场上市的是亚洲第一家在全球主要资本市场上市的保险中介企业。保险中介企业。

Cninsure Inc.Cninsure Inc. 泛华保险服务集团泛华保险服务集团 (( 下称“泛华集下称“泛华集团”团” )) 是亚洲第一家在全球主要资本市场上市的是亚洲第一家在全球主要资本市场上市的保险中介企业。保险中介企业。

adoptadopt vt. vt. to take on or assume to take on or assume 采取采取 ,,采用或接受采用或接受adopted an air of importance.adopted an air of importance.

采取自以为是的态度采取自以为是的态度


rely onrely on to need or be dependent on sb./ sth.to need or be dependent on sb./ sth. 依赖，依依赖，依靠靠

As babies, we rely entirely on others for food.As babies, we rely entirely on others for food.

在婴儿时期，我们完全依赖别人喂食。在婴儿时期，我们完全依赖别人喂食。

rely onrely on to need or be dependent on sb./ sth.to need or be dependent on sb./ sth. 依赖，依依赖，依靠靠

As babies, we rely entirely on others for food.As babies, we rely entirely on others for food.

在婴儿时期，我们完全依赖别人喂食。在婴儿时期，我们完全依赖别人喂食。

columncolumn n.n. a formation, as of organizations, troops or a formation, as of organizations, troops or vehicles, in which all elements follow one behind the other. vehicles, in which all elements follow one behind the other. 纵向，列：组织、部队或车辆排列成的前后队型纵向，列：组织、部队或车辆排列成的前后队型

Exercises of Unit 16Exercises of Unit 16

• True or FalseTrue or False

• Case AnalysisCase Analysis

• DiscussionDiscussion

Exercises of this UnitExercises of this Unit

True or FalseTrue or False

1. Insurance intermediary means a company dealing with the insurer and 1. Insurance intermediary means a company dealing with the insurer and the insured. ( )the insured. ( )

2. Insurance intermediary should be affiliated with a particular insurer. 2. Insurance intermediary should be affiliated with a particular insurer. (( ) )

3. Insurance is such a complex product representing a promise to 3. Insurance is such a complex product representing a promise to compensate the insured that there must be an intermediary in the compensate the insured that there must be an intermediary in the transaction process. (transaction process. ( ) )

4. Buyers usually make their decisions upon the insurer or insurers 4. Buyers usually make their decisions upon the insurer or insurers according to several criteria besides price. (according to several criteria besides price. ( ) )

5. Coverage may not be placed with the low bidder, or with only one 5. Coverage may not be placed with the low bidder, or with only one insurer. (insurer. ( ) )

6. China’s insurance intermediaries are offering more comprehensive 6. China’s insurance intermediaries are offering more comprehensive insurance guarantee for the society and promoting the development of insurance guarantee for the society and promoting the development of social economy together by handing with insurance companies. (social economy together by handing with insurance companies. ( ))

Text : ExerciseText : Exercise


True or FalseTrue or False

1. Insurance intermediary means a company dealing with the insurer and 1. Insurance intermediary means a company dealing with the insurer and the insured. (the insured. (FF))

2. Insurance intermediary should be affiliated with a particular insurer. (2. Insurance intermediary should be affiliated with a particular insurer. (FF ) )

3. Insurance is such a complex product representing a promise to 3. Insurance is such a complex product representing a promise to compensate the insured that there must be an intermediary in the compensate the insured that there must be an intermediary in the transaction process. (transaction process. (FF ) )

4. Buyers usually make their decisions upon the insurer or insurers 4. Buyers usually make their decisions upon the insurer or insurers according to several criteria besides price. (according to several criteria besides price. (TT ) )

5. Coverage may not be placed with the low bidder, or with only one 5. Coverage may not be placed with the low bidder, or with only one insurer. (insurer. (TT ) )

6. China’s insurance intermediaries are offering more comprehensive 6. China’s insurance intermediaries are offering more comprehensive insurance guarantee for the society and promoting the development of insurance guarantee for the society and promoting the development of social economy together by handing with insurance companies. (social economy together by handing with insurance companies. (TT ) )


Case AnalysisCase Analysis

Read the material carefully and think about Read the material carefully and think about

1. How do unscrupulous claims imperil the insurance 1. How do unscrupulous claims imperil the insurance

companies and other buyerscompanies and other buyers

2. What we can do to reduce such kind of insurance 2. What we can do to reduce such kind of insurance

cheatcheat



According to the statistic given by According to the statistic given by www.Moneywise.co.uk., car insurance cheats made www.Moneywise.co.uk., car insurance cheats made fraudulent claims worth £260 million in 2008, or £5 fraudulent claims worth £260 million in 2008, or £5 million a week, with the number of dishonest drivers up million a week, with the number of dishonest drivers up 70% over the past three years.70% over the past three years.

Unscrupulous claims made in 2008 include a Unscrupulous claims made in 2008 include a policyholder who pretended his car had been stolen policyholder who pretended his car had been stolen when in reality he had pushed it off a cliff.when in reality he had pushed it off a cliff.

Another claimant (Another claimant ( 索要者索要者 ), a Land Rover ), a Land Rover （陆（陆风）风） driver, deliberately crashed the vehicle into the driver, deliberately crashed the vehicle into the front of her house after an argument with her partner. front of her house after an argument with her partner. She later told the insurer that her foot had slipped off She later told the insurer that her foot had slipped off the break.the break.

Text : Case Analysis Text : Case Analysis

Nick Starling, director of general insurance at the Association of Nick Starling, director of general insurance at the Association of British Insurers, warns that the rise in fraudulent claims will end up British Insurers, warns that the rise in fraudulent claims will end up costing honest drivers more in premiums.costing honest drivers more in premiums.

"Insurance fraud is also a crime with victims. Honest motorists pay "Insurance fraud is also a crime with victims. Honest motorists pay through higher insurance premiums - an extra £40 a year on through higher insurance premiums - an extra £40 a year on average."average."

Those attempting to cheat their insurers could also end up with a Those attempting to cheat their insurers could also end up with a criminal record, like the Rolls Royce owner who claimed £10,000 criminal record, like the Rolls Royce owner who claimed £10,000 for the alleged theft of the front grill (for the alleged theft of the front grill ( 散热器面罩散热器面罩 ), hubcaps), hubcaps （车（车轮毂盖）轮毂盖） , steering wheel, steering wheel （方向盘）（方向盘） , seats and bonnet mascot. , seats and bonnet mascot. The police later found these items in his home, and he received a The police later found these items in his home, and he received a criminal conviction.criminal conviction.


Other policyholders who have attempted to cheat their insurer - and Other policyholders who have attempted to cheat their insurer - and got caught - include: got caught - include:

A man who claimed he lent his car to friends, and it had been stolen A man who claimed he lent his car to friends, and it had been stolen and involved in a total loss accident. However, on investigation it and involved in a total loss accident. However, on investigation it transpired transpired （透露出）（透露出） that his friends had driven it into a brick wall.that his friends had driven it into a brick wall.

A woman who was ordered to do 120 hours community service after A woman who was ordered to do 120 hours community service after she hid her car in a barn and fraudulently claimed it had been stolen.she hid her car in a barn and fraudulently claimed it had been stolen.

A driver who claimed his car had been stolen and burnt out. A driver who claimed his car had been stolen and burnt out. However, a check on the industry fraud database showed that he had However, a check on the industry fraud database showed that he had made exactly the same claim on the same vehicle six years previously.made exactly the same claim on the same vehicle six years previously.

（（ END OF THE CASEEND OF THE CASE ））


1. How unscrupulous claims imperil the insurance 1. How unscrupulous claims imperil the insurance companies and other buyerscompanies and other buyers

Unscrupulous claims is a cheating which not only hurts Unscrupulous claims is a cheating which not only hurts the insurers but also other policyholders. it may bring the insurers but also other policyholders. it may bring in premium increasing and add up the risks of the in premium increasing and add up the risks of the insurers.insurers.

2. What we can do to reduce such kind of insurance 2. What we can do to reduce such kind of insurance cheatcheat

Revise laws and regulations Revise laws and regulations

Utmost Good Faith principleUtmost Good Faith principle

Text : Text : Key to Case AnalysisKey to Case Analysis

DiscussionDiscussion

What’s your view on insurance What’s your view on insurance

intermediaries? Are they trusted or dark-minded? intermediaries? Are they trusted or dark-minded?

Discuss with your classmates and write the result Discuss with your classmates and write the result

in a report.in a report.

Text : DiscussionText : Discussion

AssignmentsAssignments

1.1. Review the Text .Review the Text .

2.2. Keep in mind the functions of Keep in mind the functions of

insurance intermediaries insurance intermediaries

3.3. Do exercises in the book.Do exercises in the book.

unit 16: insurance intermediaries financial english

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