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Шургина,Мушинская Методичка 4 курс финансы 111.doc
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  1. Match the words with their corresponding definitions:

1) reinsurance a) a request for compensation from someone who is insured

2) life b) the amount of money that an insurance company receives in payments from its customers

3) premium income c) protection through insurance

4) society d) the price at which an insurer would be prepared to accept a risk

5) claim e) a category of insurance related to the inevitability of death

6) syndicate f) an association of people with common interests

7) quotation g) the financial centre of London

8) cover h) a group of Lloyd’s members who work as a unit

9) the City i) a way for insurers to reduce their own risks by placing some of their business with other insurers

  1. Match the words in italics from sentences a-e below to these definitions:

  1. the customer's demand for payment: _______________________

  2. the price an insurance company states to provide insurance: _______________________

  3. the money the client has to pay to be insured: _______________________

  4. insurance protection: _______________________

  5. the conditions of an agreement: _______________________

  6. the insurance document: _______________________

  7. financial responsibility: _______________________

  8. to pay the money which is owed: _______________________

  9. the money the insurance company pays for loss or damage: _______________________

10 produce an official document: _______________________

a) She made an expensive claim last year so her car insurance premium has gone up.

b) At last the other party's insurance company has admitted its liability and has agreed to settle our claim. You should receive a cheque for compensation in the next couple of weeks.

c) Before you sign the policy you should check its terms carefully.

d) If you find the quotation satisfactory, we can issue a policy by the end of the week.

e) You have bought some valuable property in the last few years, you should increase the level of your cover.

  1. Think over the following questions:

  1. What different types of insurance can you think of?

  2. What would life be like without insurance?

  1. Match the terms and their descriptions from two columns:

A document which is evidence that someone has insurance

term

Covered by an insurance policy

excess

Possibility that something might happen

indemnity

The amount charged for insurance

life assurance

Payment to help someone who has suffered loss or injury

insurance certificate

Insurance protection

medical insurance

A small part of the total loss which should be paid by the insured person when he/she makes an insurance claim

insured

A type of insurance which pays out on the death of the insured, or at a specific pre-determined time

broker

A type of insurance to meet hospital costs due to illness or after an accident or injury

risk

A person whose job is to find appropriate insurance at an appropriate price

claim

A description of what happened and a request to an insurer to meet the costs resulting from the event

premium

Someone other than the insured who suffers loss or injury in an accident

third party

Payment made by an insurer

compensation

A document issued by an insurance company describing the type of insurance offered and requesting payment

schedule

A document describing an insurance agreement

cover

The period for which an insurance policy is effective

policy