Unit 5
Content
UNIT 5 TYPES OF INSURANCE READING COMPREHENSION If you want to protect your assets, your business, yourself and your employees against accidents and the like the answer is an insurance policy. The purpose is to protect your business against disasters and to cover losses, which could be caused by natural disasters, bad debtors, fires, flood and so on. Study the insurance market before making your final decision taking into account the price, the payment terms and the degree of covering risks. The procedure of taking out an insurance policy is quite simple. All that you have to do is go to an insurance company, ask for a broker` s advice about what policies policy to take out, enquire about the premium you have to pay for the cover you want and sign the documents. In case an accident occurs, you have to make a claim to the insurance company, if the company agrees to your claim you get your money. A policy with a special risks clause covers the goods against theft, short delivery, breakages and other forms of damage. The insurance policy that you take out depends on your business, on whether you produce goods or provide services, on whether you e!port goods. Among the types of insurance policies that you can take out there are" business property insurance, inland marine insurance, business liability insurance. Business property insurance covers newly purchased property property located on newly purchased premises# it requires monthly report of values to the insurer. The business owner pays premiums based on the values reported. In case you are an e!porter and you e!port fragile and e!pensive goods to beneficiaries overseas you have to insure goods because the risk is entirely yours until the goods reach the beneficiary. The Marine Insurance one covers the goods from the time they leave the warehouse of the seller until they reach the warehouse of the buyer. The contract stipulates coverage of dangers of transportation such as collision and natural phenomena $rising water, tornado, fire, lightning and windstorm%. The marine insurance generally e!cludes losses resulting from pilferage, strike, riot, war, illegal trade. &usiness liability contracts commonly include liability of a building owner tenant landlord# liability of an employer for acts of negligence involving employees. Theft insurance covers all acts of stealing# there are three types of insurance contracts for burglary, robbery and other theft. 'orkers` compensation insurance compensates workers for losses suffered as a result of work ( related in)uries and it stipulates payments regardless of negligence. FOCUS ON LANGUAGE Drawing a conclusion I would like to conclude by saying that
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To sum up I would like to say that All in all A ing !"ings
As well as that ,ot only that, but also &esides 'hat`s more #a$s o% &r's'n!ing -roblems one of the big problems is that The problem is that Solutions one of the solutions would .ould be to / Inf. A possible solution might 'hat they we could might ought to should do would be to / Inf. 0ne thing that could ought to might could be to / Inf. R'sul!s This would mean that This would result in vb / ing The results of this would be to / vb / ing This would have the effect of vb / ing (OCA)ULARY* policy 1 poli23 insured 1 asigurat insurer 1 asigurator premium 1 prim3# coti4a2ie to cover 1 a acoperi coverage 1 acoperire beneficiary 1 beneficiar insurance company 1 companie de asigur3ri insurance rate 1 rat3 de asigur3ri policyholder 1 de2in3tor de poli23 de asigurare to take out 1 a 5ncheia liability insurance 1 asigurare de r3spundere civil3 theft insurance 1 asigurare contra furtului broker = agent de asigur3ri
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CHEC+ YOUR UNDERSTANDING I. Translate the following sentences into 7nglish" 8. Asigurarea de r3spundere civil3 acoper3 daunele cau4ate 5n ca4ul decesului, r3nirii sau 5mboln3virii unei persoane, cele cau4ate de defec2iuni ale echipamentelor 9i utila)elor sau de negli)en2a personalului. :. ;3spunderea proprietarului este similar3 cu r3spunderea civil3, iar proprietarii sunt obliga2i prin lege s3 acorde desp3gubiri anga)a2ilor 5n ca4ul 5n care ace9tia emit anumite preten2ii. <. -rocedura de 5ncheiere a unei asigur3ri este simpl3, nu necesit3 mult timp, 5ns3 5nainte de a lua o deci4ie trebuie s3 fim bine informa2i. =. -roprietarii trebuie s3 studie4e pia2a asigur3rilor pentru a identifica oferta cea mai avanta)oas3. *. ;3spunderea profesional3 se aplic3 5n ca4ul firmelor de consultan23 pentru c3 e!ist3 riscul ca acestea s3 le ofere clien2ilor informa2ii gre9ite. +. &.; Asigur3ri de >ia23, a treia companie de pe pia23 de profil, a 5ncheiat primele nou3 luni din acest an cu subscrieri de 8+?,= milioane de lei $<@,? mil. euro%, 5n cre9tere cu =AB fa23 de aceea9i perioad3 a anului trecut. -ia2a de asigur3ri de via23 a sc34ut cu 8AB 5n primele noua luni. -rofitul brut 5nregistrat de asigurator 5n aceast3 perioad3 este de 8:,* milioane de lei $< mil. euro%, cu ?:B peste nivelul din primele trei trimestre ale anului :AA?. II. Answer the following questions" 8. Cow does a business cope with riskD :. 'hat types of risks does a business insure againstD <. 'hat is the procedure of taking out an insurance policyD =. 'hat type of insurance will you have to take out if you are an e!porterD *. 'ho helps you make your decision and choose the type of insuranceD III. Eive the definitions of the following" 8. to sign a contract with an insurance company :. agreement signed by the insured and by the insurance company <. the regular money, which the insured pays to the insurance company for cover =. someone who gives you advice about the best insurance available. *. the demand you make to the insurance company when there is an accident. I>. ;earrange the letters so that to obtain the right word" 8. In order to take out an insurance policy you must go to an insuranceFFFFFFFFFFF npcmyoa.
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:. The person who informs you about types of insurance and who advises you what insurance to take out is the FFFFFFFFFFFFkborre. <. 'hen you have decided what insurance to take out you must agree with the FFFFFFFFFuremipm. =. If you are a good broker and the policies you bring to your company increase its revenues, you can get the best insurance FFFFFFFFFFFFFsaert. *. Gosses caused by riots, wars, illegal trade are e!cluded byFFFFFFFFFFFFFFnerima ceniuars. >. .hoose the correct form" 8. The document signed both by the insured and by the insurance company is called" a. clause b. policy c. draft. :. The person who gives advice about types of insurance is the" a. rep b. manager c. broker. <. Some of your clients may not be quite willing to pay for services or goods and to prevent that you have to insure against" a. clients b. bad debtors c. employees. =. The type of insurance policy that e!porters have to take out is" a. business property insurance b. life insurance c. marine insurance. *. 0wners who want to insure premises and assets against natural phenomena choose" a. health insurance b. business property insurance c. theft insurance.
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>I. ;ead and comment the following te!t" As Su&&l$ Ou!&ac' D',an - Insuranc' Cos!s Sli Hespite a year that e!posed risks around every corner, the total cost of risk fell in :AA?. 'ith the bad name that riskFtaking of all sorts is being strapped with these days, corporations have pulled back on activities that contain the slightest amounts of peril. Iollowing the law of supply and demand, the cost of limiting those risks has plummeted. Thus, even as financial markets churned, and the annual tally of natural disasters reached the secondFhighest level on record, the total cost of risk fell by nearly 8A B last year, according to the latest &enchmark Survey released by the ;isk and Insurance Janagement Society $;IJS%. Ialling insurance premiums largely drove the decline of the metric, which fell to K 8A. +? per K 8, AAA in revenue in :AA? from K 88. 6? per K 8, AAA of revenue for :AA6. The average premium cost fell across almost every category of risk, according to the study, which includes data on more than 8, <AA companies in the L.S. and .anada. $Total cost of risk is the sum of insurance premiums, retained losses, and risk management administrative costs per K 8, AAA of revenue.% MNou would think that, given the current state of affairs in the world and the insurance market, there would be a little more sanity prevailing and rates would be stable or rising,M says Have &radford, the e!ecutive vice president of Advisen, an insurance F advisory firm, and the editor ( in F chief of the survey. M&ut even though there was a massive loss of OinsuranceP capacity in :AA? as a result of investment losses, the insurance industry is still a bit overFcapitali4ed, and that keeps the pressure on rates.M In contrast to the plentiful supply, the demand for insurance has been shrinking because of the recession. 'ayne Salen, director of risk management at the 'est -alm &each, Ila. industrial staffing firm Gabor Iinders International, says that although his business has held up reasonably well, Mbecause of the credit constraints and financial circumstances, a lot of other people are pulling in their horns on a lot of things, and that translates to e!posure reductions.M Ce also suspects that carriers and brokers are trying to hold on to market share and are keeping their rates low in order to effectively compete. MThereQs no question that for us, our cost of risk is down,M he says. &esides simply having less business to insure, &radford says, many companies under financial pressure, have been Mdigging in their heelsM when it comes to renewing their policies and forcing providers to meet their budgets. ;isk managers are also e!ploring alternatives to traditional insurance to keep their costs down, he adds. Some are increasing the amount of risk they retain on their own books and others are setting up captive insurance subsidiaries or making greater use of the captives they already have. 0ther companies have focused on another component of the cost of risk" they have reduced the si4e of their risk management staffs, a move that Salen notes, Mlooks good at the moment, but can be e!ceptionally e!pensive down the road. MHespite the overall softness of the insurance market, some companies, particularly those
+A
that are already troubled, are not benefiting from the trend towards declining costs, finding insurance in certain areas to be both e!pensive and hard to come by. MThe area where thereQ s particular distress is the directorsQ and officersQ liability line,M says &radford. MThose that are in the financial sector and have been bloodied by the credit crisis and the subprime debacle are either having trouble finding enough coverage or seeing rates increase substantially.M Lnderwriters are also scrutini4ing highlyFleveraged companies in an effort to determine whether they can manage their debt loads and are risks worth insuring. $Rate 0QSullivan , Suly 6, :AA@, The 7conomist.com% (OCA)ULARY* to outpace 1 to surpass to slide 1 gradually become lower or less to strap with 1 to bind, to constrict, to cause to suffer from an e!treme scarcity to pull back on 1 to carry out, to perform to plummet 1 to drop sharply and abruptly to churn 1 to increase, to produce large quantities of something tally 1 score, record to release 1 to make available to the public metric 1 a standard measurement sanity 1 soundness of health or mind to shrink 1 to lessen in value to hold up 1 to continue in the same way or to the same degree constraint 1 the state of being checked, restricted or compelled carrier 1 messenger, conveyor, a person company whose )ob is to transport goods to dig in one`s heels 1 captive 1 owned or controlled by another concern and operated for its needs, rather than for an open market softness $on the market% 1 a low market due to sluggish market conditions to bloody 1 to harm, to damage debacle 1 failure underwriter 1 insurer, guarantor to scrutini4e 1 to e!amine closely or minutely leveraged 1 a leveraged company is financed by a high level of borrowing in relation to its share capital >II. .ertain words are differently spelt in American 7nglish. Identify the &ritish version and the American one" cheque encyclopaedia enquiry check encyclopedia inquiry
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pay rise traveller`s cheque favourite to analyse to organise
pay raise travelers checks favorite to analy4e to organi4e
>III. Translate the following te!t into 7nglish" Pia.a asigur/rilor a a0uns la 1-23 ,l 4 'uro la 5a&!' luni -ia2a asigur3rilor a a)uns la nivelul de *,< miliarde de lei $8,:+ mld. euro% dup3 primele 9apte luni ale acestui an, potrivit celor mai recente date ale .omisiei de Supraveghere a Asigurarilor $.SA%, dup3 ce 5n iulie asiguratorii au subscris prime de 6*@,: milioane de lei $8?A mil. euro%, cu ?B peste nivelul din luna anterioar3. .SA a 5nceput anul acesta s3 le cear3 asiguratorilor raport3ri lunare cu privire la primele brute subscrise, pTn3 5n :AA? raportarile fiind trimestriale. Hesp3gubirile platite de asiguratori 5n iulie sFau ridicat la =+? mil. lei $88A mil. euro%, 5n crestere cu @B fa23 de luna iunie. In primele 9apte luni, desp3gubirile totale au fost de peste <,= miliarde de lei $?8* mil. euro%. M-ia2a a evoluat bine, avTnd 5n vedere c3 este 5n cre9tere fa23 de aceea9i perioad3 a anului trecut, chiar dac3 nu este o cre9tere de dou3 cifre. Hin discu2iile pe care leFam avut cu asiguratorii, se pare c3 septembrie a fost o luna mai bun3 decTt celelalteM, a declarat Angela Toncescu, pre2edintele .SA, 5ntrFun interviu acordat UI. 7a spune c3 se observ3 o cre9tere pe segmentul asigur3rilor de propriet32i 9i de locuin2e, deoarece asiguratorii au 5n2eles c3 trebuie s3 mai renun2e la businessul auto, 5n condi2iile 5n care 5nregistrea43 pierderi importante pe aceast3 linie de asigurare. M,u cred ca au fost ani mai dificili decTt :AA@ pentru pia2a asigur3rilor, dar, avTnd 5n vedere re4ultatele companiilor, cred c3 asiguratorii au gasit solu2iile potrivite pentru a trece de cri43.M -otrivit pre9edintelui .SA, societ32ile de asigurare nu au nevoie 5n pre4ent de capital suplimentar de la ac2ionari, cu e!cep2ia a dou3 firme de mici dimensiuni, c3rora nu leFa preci4at numele. MSociet32ile de asigurare sunt bine capitali4ate 9i dup3 primul semestru toate erau peste limita minim3 de solvabilitate, 5n afar3 de dou3 societ32i mici.M Solvabilitatea este unul dintre cei mai importan2i indicatori din asigur3ri, care arat3 capacitatea companiilor de a face fa23 obliga2iilor fa23 de clien2i. In anii trecu2i, societ32i ca Ardaf, Asiban sau Asirom au avut probleme de solvabilitate, care au fost 5ns3 re4olvate prin aporturi de capital ale ac2ionarilor. Pr'g/!iri &'n!ru 6onus7,alus .SA pregate9te 5n pre4ent reglement3rile pentru aplicarea sistemului bonusFmalus 5ncepTnd cu anul viitor, sistem care va scumpi poli2ele de asigurare auto pentru clien2ii cu multe daune 9i la va ieftini pentru cei care nu fac accidente. M-Tn3 la
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sfar9itul lunii vom elabora toate reglement3rile pentru bonusFmalus, sistem care va intra 5n vigoare anul viitor, nu 9tiu dac3 de la 8 ianuarie. Trebuie s3 vedem partea po4itiv3 a acestui sistem, 9i anume c3 cei care au daune sunt pu2ini, doar <AA.AAA din = milioane de clien2i. .and 59i vor da seama 9oferii c3 accidente produse de ei le vor cre9te primele de asigurare, vor fi mai aten2i.M $Uiarul financiar, Angela -lacinta, 8941842889% IV. Eive the 7nglish equivalent of the following terms" cl3dire cu destina2ie locativ3 plan valoric inspec2ie de risc facilitate de plat3 a primei de asigur3ri e!tinderea portofoliului de clien2i renta pentru studiu subscrieri de prime brute pia2a asigur3rilor generale a se retrage din asigur3ri subscrieri 5n sc3dere V. .ommunication activities" 8. 'ould you allow your employees to celebrate their anniversaries at the office or would you rather think that there are more important events that deserve being celebrated such as signing a contract, a religious holidayD F office parties make employees know each other better# F by organi4ing them you can improve your employees` morale# F you en)oy greater popularity if you attend office parties# F birthdays are personal occasions and you think your employees feel better at home with their family. :. Nou decided to insure your business. 'hat kind of insurance would you take outD F the purpose and the function of the insurance# F the importance of the insurance# F advantages and disadvantages of the insurance# F risks implied in taking out an insurance policy# F what do you want to insure# <. Nou are a natural legal person and you want to take out a life and health insurance policy. Cave a dialogue with a broker in which you establish the premium and make an evaluation.
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=. Advertise the services your insurance company provides to businesses and legal persons natural persons. *. Nou are no longer satisfied with your insurance and your insurance company and you want to change it. Cave a phone conversation with your previous insurance company in which you e!plain them the reason for your choice. +. Nou represent an insurance company and you lost an important customer. .all their premises and convince them to renew the contract with you. V. 'riting tasks" 8. 'rite a formal letter to an insurance company in which you demand information about the types of insurance they provide# their background# the area which they cover with their insurance# the amount of capital# staff. :. Nou represent an insurance company and you receive a letter as the one mentioned above. 'rite a letter of reply. Jaking suggestions and proposals" Might/ May we suggest that--One possible solution would be to e propose to e are planning to Asking for clarification" It is not clear whether e are not sure if It would be of assistance if you could supply us with further details of/more information about--e would be grateful if you could clarify thisW <. Nou are a broker and you find out that an important insurance company has a vacancy. Send your .> and your letter of application. =. Hraw up an insurance contract between your insurance company and a business. *. .hoose an insurance policy you want to take out and translate it into 7nglish.
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To sum up I would like to say that All in all A ing !"ings
As well as that ,ot only that, but also &esides 'hat`s more #a$s o% &r's'n!ing -roblems one of the big problems is that The problem is that Solutions one of the solutions would .ould be to / Inf. A possible solution might 'hat they we could might ought to should do would be to / Inf. 0ne thing that could ought to might could be to / Inf. R'sul!s This would mean that This would result in vb / ing The results of this would be to / vb / ing This would have the effect of vb / ing (OCA)ULARY* policy 1 poli23 insured 1 asigurat insurer 1 asigurator premium 1 prim3# coti4a2ie to cover 1 a acoperi coverage 1 acoperire beneficiary 1 beneficiar insurance company 1 companie de asigur3ri insurance rate 1 rat3 de asigur3ri policyholder 1 de2in3tor de poli23 de asigurare to take out 1 a 5ncheia liability insurance 1 asigurare de r3spundere civil3 theft insurance 1 asigurare contra furtului broker = agent de asigur3ri
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CHEC+ YOUR UNDERSTANDING I. Translate the following sentences into 7nglish" 8. Asigurarea de r3spundere civil3 acoper3 daunele cau4ate 5n ca4ul decesului, r3nirii sau 5mboln3virii unei persoane, cele cau4ate de defec2iuni ale echipamentelor 9i utila)elor sau de negli)en2a personalului. :. ;3spunderea proprietarului este similar3 cu r3spunderea civil3, iar proprietarii sunt obliga2i prin lege s3 acorde desp3gubiri anga)a2ilor 5n ca4ul 5n care ace9tia emit anumite preten2ii. <. -rocedura de 5ncheiere a unei asigur3ri este simpl3, nu necesit3 mult timp, 5ns3 5nainte de a lua o deci4ie trebuie s3 fim bine informa2i. =. -roprietarii trebuie s3 studie4e pia2a asigur3rilor pentru a identifica oferta cea mai avanta)oas3. *. ;3spunderea profesional3 se aplic3 5n ca4ul firmelor de consultan23 pentru c3 e!ist3 riscul ca acestea s3 le ofere clien2ilor informa2ii gre9ite. +. &.; Asigur3ri de >ia23, a treia companie de pe pia23 de profil, a 5ncheiat primele nou3 luni din acest an cu subscrieri de 8+?,= milioane de lei $<@,? mil. euro%, 5n cre9tere cu =AB fa23 de aceea9i perioad3 a anului trecut. -ia2a de asigur3ri de via23 a sc34ut cu 8AB 5n primele noua luni. -rofitul brut 5nregistrat de asigurator 5n aceast3 perioad3 este de 8:,* milioane de lei $< mil. euro%, cu ?:B peste nivelul din primele trei trimestre ale anului :AA?. II. Answer the following questions" 8. Cow does a business cope with riskD :. 'hat types of risks does a business insure againstD <. 'hat is the procedure of taking out an insurance policyD =. 'hat type of insurance will you have to take out if you are an e!porterD *. 'ho helps you make your decision and choose the type of insuranceD III. Eive the definitions of the following" 8. to sign a contract with an insurance company :. agreement signed by the insured and by the insurance company <. the regular money, which the insured pays to the insurance company for cover =. someone who gives you advice about the best insurance available. *. the demand you make to the insurance company when there is an accident. I>. ;earrange the letters so that to obtain the right word" 8. In order to take out an insurance policy you must go to an insuranceFFFFFFFFFFF npcmyoa.
*?
:. The person who informs you about types of insurance and who advises you what insurance to take out is the FFFFFFFFFFFFkborre. <. 'hen you have decided what insurance to take out you must agree with the FFFFFFFFFuremipm. =. If you are a good broker and the policies you bring to your company increase its revenues, you can get the best insurance FFFFFFFFFFFFFsaert. *. Gosses caused by riots, wars, illegal trade are e!cluded byFFFFFFFFFFFFFFnerima ceniuars. >. .hoose the correct form" 8. The document signed both by the insured and by the insurance company is called" a. clause b. policy c. draft. :. The person who gives advice about types of insurance is the" a. rep b. manager c. broker. <. Some of your clients may not be quite willing to pay for services or goods and to prevent that you have to insure against" a. clients b. bad debtors c. employees. =. The type of insurance policy that e!porters have to take out is" a. business property insurance b. life insurance c. marine insurance. *. 0wners who want to insure premises and assets against natural phenomena choose" a. health insurance b. business property insurance c. theft insurance.
*@
>I. ;ead and comment the following te!t" As Su&&l$ Ou!&ac' D',an - Insuranc' Cos!s Sli Hespite a year that e!posed risks around every corner, the total cost of risk fell in :AA?. 'ith the bad name that riskFtaking of all sorts is being strapped with these days, corporations have pulled back on activities that contain the slightest amounts of peril. Iollowing the law of supply and demand, the cost of limiting those risks has plummeted. Thus, even as financial markets churned, and the annual tally of natural disasters reached the secondFhighest level on record, the total cost of risk fell by nearly 8A B last year, according to the latest &enchmark Survey released by the ;isk and Insurance Janagement Society $;IJS%. Ialling insurance premiums largely drove the decline of the metric, which fell to K 8A. +? per K 8, AAA in revenue in :AA? from K 88. 6? per K 8, AAA of revenue for :AA6. The average premium cost fell across almost every category of risk, according to the study, which includes data on more than 8, <AA companies in the L.S. and .anada. $Total cost of risk is the sum of insurance premiums, retained losses, and risk management administrative costs per K 8, AAA of revenue.% MNou would think that, given the current state of affairs in the world and the insurance market, there would be a little more sanity prevailing and rates would be stable or rising,M says Have &radford, the e!ecutive vice president of Advisen, an insurance F advisory firm, and the editor ( in F chief of the survey. M&ut even though there was a massive loss of OinsuranceP capacity in :AA? as a result of investment losses, the insurance industry is still a bit overFcapitali4ed, and that keeps the pressure on rates.M In contrast to the plentiful supply, the demand for insurance has been shrinking because of the recession. 'ayne Salen, director of risk management at the 'est -alm &each, Ila. industrial staffing firm Gabor Iinders International, says that although his business has held up reasonably well, Mbecause of the credit constraints and financial circumstances, a lot of other people are pulling in their horns on a lot of things, and that translates to e!posure reductions.M Ce also suspects that carriers and brokers are trying to hold on to market share and are keeping their rates low in order to effectively compete. MThereQs no question that for us, our cost of risk is down,M he says. &esides simply having less business to insure, &radford says, many companies under financial pressure, have been Mdigging in their heelsM when it comes to renewing their policies and forcing providers to meet their budgets. ;isk managers are also e!ploring alternatives to traditional insurance to keep their costs down, he adds. Some are increasing the amount of risk they retain on their own books and others are setting up captive insurance subsidiaries or making greater use of the captives they already have. 0ther companies have focused on another component of the cost of risk" they have reduced the si4e of their risk management staffs, a move that Salen notes, Mlooks good at the moment, but can be e!ceptionally e!pensive down the road. MHespite the overall softness of the insurance market, some companies, particularly those
+A
that are already troubled, are not benefiting from the trend towards declining costs, finding insurance in certain areas to be both e!pensive and hard to come by. MThe area where thereQ s particular distress is the directorsQ and officersQ liability line,M says &radford. MThose that are in the financial sector and have been bloodied by the credit crisis and the subprime debacle are either having trouble finding enough coverage or seeing rates increase substantially.M Lnderwriters are also scrutini4ing highlyFleveraged companies in an effort to determine whether they can manage their debt loads and are risks worth insuring. $Rate 0QSullivan , Suly 6, :AA@, The 7conomist.com% (OCA)ULARY* to outpace 1 to surpass to slide 1 gradually become lower or less to strap with 1 to bind, to constrict, to cause to suffer from an e!treme scarcity to pull back on 1 to carry out, to perform to plummet 1 to drop sharply and abruptly to churn 1 to increase, to produce large quantities of something tally 1 score, record to release 1 to make available to the public metric 1 a standard measurement sanity 1 soundness of health or mind to shrink 1 to lessen in value to hold up 1 to continue in the same way or to the same degree constraint 1 the state of being checked, restricted or compelled carrier 1 messenger, conveyor, a person company whose )ob is to transport goods to dig in one`s heels 1 captive 1 owned or controlled by another concern and operated for its needs, rather than for an open market softness $on the market% 1 a low market due to sluggish market conditions to bloody 1 to harm, to damage debacle 1 failure underwriter 1 insurer, guarantor to scrutini4e 1 to e!amine closely or minutely leveraged 1 a leveraged company is financed by a high level of borrowing in relation to its share capital >II. .ertain words are differently spelt in American 7nglish. Identify the &ritish version and the American one" cheque encyclopaedia enquiry check encyclopedia inquiry
+8
pay rise traveller`s cheque favourite to analyse to organise
pay raise travelers checks favorite to analy4e to organi4e
>III. Translate the following te!t into 7nglish" Pia.a asigur/rilor a a0uns la 1-23 ,l 4 'uro la 5a&!' luni -ia2a asigur3rilor a a)uns la nivelul de *,< miliarde de lei $8,:+ mld. euro% dup3 primele 9apte luni ale acestui an, potrivit celor mai recente date ale .omisiei de Supraveghere a Asigurarilor $.SA%, dup3 ce 5n iulie asiguratorii au subscris prime de 6*@,: milioane de lei $8?A mil. euro%, cu ?B peste nivelul din luna anterioar3. .SA a 5nceput anul acesta s3 le cear3 asiguratorilor raport3ri lunare cu privire la primele brute subscrise, pTn3 5n :AA? raportarile fiind trimestriale. Hesp3gubirile platite de asiguratori 5n iulie sFau ridicat la =+? mil. lei $88A mil. euro%, 5n crestere cu @B fa23 de luna iunie. In primele 9apte luni, desp3gubirile totale au fost de peste <,= miliarde de lei $?8* mil. euro%. M-ia2a a evoluat bine, avTnd 5n vedere c3 este 5n cre9tere fa23 de aceea9i perioad3 a anului trecut, chiar dac3 nu este o cre9tere de dou3 cifre. Hin discu2iile pe care leFam avut cu asiguratorii, se pare c3 septembrie a fost o luna mai bun3 decTt celelalteM, a declarat Angela Toncescu, pre2edintele .SA, 5ntrFun interviu acordat UI. 7a spune c3 se observ3 o cre9tere pe segmentul asigur3rilor de propriet32i 9i de locuin2e, deoarece asiguratorii au 5n2eles c3 trebuie s3 mai renun2e la businessul auto, 5n condi2iile 5n care 5nregistrea43 pierderi importante pe aceast3 linie de asigurare. M,u cred ca au fost ani mai dificili decTt :AA@ pentru pia2a asigur3rilor, dar, avTnd 5n vedere re4ultatele companiilor, cred c3 asiguratorii au gasit solu2iile potrivite pentru a trece de cri43.M -otrivit pre9edintelui .SA, societ32ile de asigurare nu au nevoie 5n pre4ent de capital suplimentar de la ac2ionari, cu e!cep2ia a dou3 firme de mici dimensiuni, c3rora nu leFa preci4at numele. MSociet32ile de asigurare sunt bine capitali4ate 9i dup3 primul semestru toate erau peste limita minim3 de solvabilitate, 5n afar3 de dou3 societ32i mici.M Solvabilitatea este unul dintre cei mai importan2i indicatori din asigur3ri, care arat3 capacitatea companiilor de a face fa23 obliga2iilor fa23 de clien2i. In anii trecu2i, societ32i ca Ardaf, Asiban sau Asirom au avut probleme de solvabilitate, care au fost 5ns3 re4olvate prin aporturi de capital ale ac2ionarilor. Pr'g/!iri &'n!ru 6onus7,alus .SA pregate9te 5n pre4ent reglement3rile pentru aplicarea sistemului bonusFmalus 5ncepTnd cu anul viitor, sistem care va scumpi poli2ele de asigurare auto pentru clien2ii cu multe daune 9i la va ieftini pentru cei care nu fac accidente. M-Tn3 la
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sfar9itul lunii vom elabora toate reglement3rile pentru bonusFmalus, sistem care va intra 5n vigoare anul viitor, nu 9tiu dac3 de la 8 ianuarie. Trebuie s3 vedem partea po4itiv3 a acestui sistem, 9i anume c3 cei care au daune sunt pu2ini, doar <AA.AAA din = milioane de clien2i. .and 59i vor da seama 9oferii c3 accidente produse de ei le vor cre9te primele de asigurare, vor fi mai aten2i.M $Uiarul financiar, Angela -lacinta, 8941842889% IV. Eive the 7nglish equivalent of the following terms" cl3dire cu destina2ie locativ3 plan valoric inspec2ie de risc facilitate de plat3 a primei de asigur3ri e!tinderea portofoliului de clien2i renta pentru studiu subscrieri de prime brute pia2a asigur3rilor generale a se retrage din asigur3ri subscrieri 5n sc3dere V. .ommunication activities" 8. 'ould you allow your employees to celebrate their anniversaries at the office or would you rather think that there are more important events that deserve being celebrated such as signing a contract, a religious holidayD F office parties make employees know each other better# F by organi4ing them you can improve your employees` morale# F you en)oy greater popularity if you attend office parties# F birthdays are personal occasions and you think your employees feel better at home with their family. :. Nou decided to insure your business. 'hat kind of insurance would you take outD F the purpose and the function of the insurance# F the importance of the insurance# F advantages and disadvantages of the insurance# F risks implied in taking out an insurance policy# F what do you want to insure# <. Nou are a natural legal person and you want to take out a life and health insurance policy. Cave a dialogue with a broker in which you establish the premium and make an evaluation.
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=. Advertise the services your insurance company provides to businesses and legal persons natural persons. *. Nou are no longer satisfied with your insurance and your insurance company and you want to change it. Cave a phone conversation with your previous insurance company in which you e!plain them the reason for your choice. +. Nou represent an insurance company and you lost an important customer. .all their premises and convince them to renew the contract with you. V. 'riting tasks" 8. 'rite a formal letter to an insurance company in which you demand information about the types of insurance they provide# their background# the area which they cover with their insurance# the amount of capital# staff. :. Nou represent an insurance company and you receive a letter as the one mentioned above. 'rite a letter of reply. Jaking suggestions and proposals" Might/ May we suggest that--One possible solution would be to e propose to e are planning to Asking for clarification" It is not clear whether e are not sure if It would be of assistance if you could supply us with further details of/more information about--e would be grateful if you could clarify thisW <. Nou are a broker and you find out that an important insurance company has a vacancy. Send your .> and your letter of application. =. Hraw up an insurance contract between your insurance company and a business. *. .hoose an insurance policy you want to take out and translate it into 7nglish.
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