新编金融英语教程ChapterInsurance

NewFinancialEnglishTutorialChapterInsuranceCATALOGUE目录InsuranceOverviewInsurancecontractInsurancepremiumrateandinsuranceamountOperationandManagementofInsuranceCompaniesInsurancesupervisionandregulations01InsuranceOverviewThedefinitionandfunctionofinsuranceSummary:Insuranceisaneconomicprotectionmechanismthatprovidesindividualsorbusinesseswitheconomicprotectiontocopewithpotentiallossesorinjuriesbyconcentratinganddiversifyingrisks.Detaileddescription:Insuranceisaneconomicbehavior,whichisessentiallyaprocessofgatheringanddispersingrisks.Bycollectingpremiums,insurancecompaniesconcentratetherisksofnumerouspolicyholders.Onceoneofthepolicyholderssufferslossorinjury,theinsurancecompanywillcompensateaccordingtothecontractagreement,therebydiversifyingindividualrisks.Theroleofinsuranceistoprovideeconomicprotectionforindividualsorbusinesses,helpingthemcopewithpotentiallossesorinjuries,andensuringtheireconomicsafety.TypesofInsuranceSummary:Insurancecanbedividedintotwocategories:personalinsuranceandpropertyinsurance.Personalinsurancecanbefurtherdividedintolifeinsurance,healthinsurance,andaccidentinsurance,whilepropertyinsurancecanbefurtherdividedintopropertylossinsurance,liabilityinsurance,andcreditinsurance.Detaileddescription:Accordingtothedifferentbeneficiaries,insurancecanbedividedintopersonalinsuranceandpropertyinsurance.Personalinsuranceisatypeofinsurancethatprotectsthelifeorbodyofaperson,mainlyincludinglifeinsurance,healthinsurance,andaccidentinsurance.Propertyinsuranceisaimedatprotectingpropertyandrelatedinterests,mainlyincludingtypessuchaspropertylossinsurance,liabilityinsurance,andcreditinsurance.Thesedifferenttypesofinsurancecatertodifferentrisksandneeds,providingcomprehensiveeconomicprotectionforindividualsandbusinesses.TheHistoryandDevelopmentofInsuranceSummary:Thehistoryofinsurancecanbetracedbacktotheancientmaritimetradeperiod.Withthedevelopmentofsocialeconomyandtechnologicalprogress,theinsuranceindustryhasalsobeencontinuouslydevelopingandimproving.Detaileddescription:Theoriginofinsurancecanbetracedbacktotheancientmaritimetradeperiod,whenshipownerswouldadoptajointsharingofmaritimeriskstoreducelossescausedbyshipaccidents.Withthedevelopmentofsocialeconomyandtechnologicalprogress,theinsuranceindustryhasalsobeencontinuouslydevelopingandimproving,graduallyformingmoderninsurancesystemsandtypes.Inhistory,theinsuranceindustryhasgonethroughstagessuchasmarineinsurance,fireinsurance,andlifeinsurance.Withmarketdemandandtechnologicalinnovation,newtypesofinsuranceandinsurancebusinesseshavealsoemerged,providingindividualsandenterpriseswithmorecomprehensiveanddiversifiedeconomicprotection.02InsurancecontractItreferstotheeconomiclossthattheinsuredpartyiswillingtoinsureItistheprerequisitefortheestablishmentofaninsurancecontractInsuranceinterestItreferstotheriskthatneedstobeinsuredbytheinsuredpartyItistheobjectofinsuranceProtectedriskItreferstothecompensationpaidbytheinsuredpartytotheinsurerforprovidinginsuranceservicesItisthebasisfortheinsurertobeartheriskInsurancepremiumItisaclauseintheinsurancecontractthatstimulatesthescope,amount,andotherconditionsoftheinsuranceInsuranceclauseElementsofaninsurancecontractLifeinsurancecontract01ItisacontractthatprovideslifeinsuranceservicesforthelifeanddeathoftheinsuredpartyPropertyinsurancecontract02ItisacontractthatprovidespropertyinsuranceservicesforthepropertyandothereconomicinterestsoftheinsuredpartyLiabilityinsurancecontract03ItisacontractthatprovidesreliabilityinsuranceservicesforthelegalliabilitiesoftheinsuredpartyTypesofinsurancecontractsTheestablishmentofaninsurancecontractmustcomplywiththelawsandregulationsofChinaThecontentofaninsurancecontractmustbelegal,compliant,andeffectiveTheconclusionandperformanceofaninsurancecontractmustcomplywiththelawsandregulationsofChina,andshallnotharmthepublicinterestorisolatetheprovisionsoflawsandregulationsTheLegalBindingForceofInsuranceContracts03InsurancepremiumrateandinsuranceamountThepremiumratefortermlifeinsuranceiscalculatedbasedonthedeathbenefitamount,thetermlength,andthepolicyholder'sage,healthstatus,occupation,andlifestylefactorsTermlifeinsuranceThepremiumrateforwholelifeinsuranceisdeterminedbythedeathbenefitamount,thecashvalueamount,thepolicyterm,andtheinsurer'sinvestmentreturnsandexpensesWholelifeinsuranceCalculationofinsurancepremiumratesTermlifeinsuranceTheinsuranceamountfortermlifeinsuranceistypicallyequaltothedeathbenefitamountspecifiedinthepolicyWholelifeinsuranceTheinsuranceamountforwholelifeinsuranceisdeterminedbythecashvalueamountandthedeathbenefitamountspecifiedinthepolicyDeterminationofinsuranceamountThepremiumratefortermlifeinsurancemaybeadjustedbasedonchangesinthepolicyholder'sage,healthstatus,occupation,orlifestylefactorsAnychangesinthedeathbenefitamountwouldalsobereflectedinthepremiumrateTermlifeinsuranceThepremiumrateforwholelifeinsurancemaybeadjustedbasedonchangesintheinsurer'sinvestmentreturnsandexpensesChangesinthecashvalueamountordeathbenefitamountwouldalsobereflectedinfuturepremiumratesWholelifeinsuranceAdjustmentofinsuranceratesandchangesininsuranceamounts04OperationandManagementofInsuranceCompanies03FrontlinemanagementlayerHandlescustomerservice,sales,andunderwritingfunctions01CentralmanagementlayerResponsibleforoverallstrategy,policy,anddirectionofthecompany02DepartmentalmanagementlayerHandlesdaytodayoperationsandmanagementofspecificdepartmentsOrganizationalstructureofinsurancecompanies

BusinessoperationsofinsurancecompaniesUnderwritingDeterminetheriskofpotentialinsurancepoliciesandwhichtoacceptorrejectthemClaimsHandlesclaimsmadebypolicyholderswhenacoveredeventoccursSalesandmarketingGeneratenewbusinessbysellinginsurancepoliciesandmaintainingrelationshipswithexistingcustomersIdentifiespotentialrisksfacedbythecompanyanditspolicyholdersRiskidentificationAssessesthelikelihoodandimpactoftheserisksoccurringRiskassessmentTakemeasurestoreducetheimpactoftheserisks,suchaspurchasingreinsuranceordiversifyingtheinvestmentportfolioRiskmitigationRiskmanagementofinsurancecompanies05InsurancesupervisionandregulationsThegoalsandprinciplesofinsuranceregulationToprotectthelegalrightsandinterestsofinsuranceconsumers,maintainfair,open,andorderlyinsurancemarket,andpromotethehealthdevelopmentofinsuranceindustryGoalTheinsuranceregulationshouldfollowtheprinciplesoflaw,fairness,openness,andtransparencyItshouldestablishasoundinsuranceregulatorysystem,strengtheningthesupervisionoftheinsurancemarket,andensuringthattheinsuranceindustryisonlinewithnationallaws,regulations,andpoliciesPrinciplesTheinsurancesupervisionshouldcoverthebusinessoperation,financialconditions,riskmanagement,andcomplianceofinsurancecompaniesItshouldalsofocusonthesupervisionofinsuranceproducts,insuranceagents,andinsurancemarketingchannelsContentTheinsurancesupervisioncanadaptdifferentmethodsaccordingtothecharacteristicsoftheindustryandtheneedsofsupervisionItcanrequireinsurancecompaniestoreportrelevantinformation,conductonsiteinspection,investmentanddealwi