Insurance – otázka z angličtiny

Insurance

–        Insurance is one of the oldest parts of economy and human life. The number of insurance classes has grown.

–        People buy individual insurance to protect themselves against risks such as loss, damage, injury and so on.

–        Companies protect themselves too – business insurance.

 

History

–        Roman soldiers were paid and part on their money was given to a special fund. If they were killed in the battle their families got his money.

 

–        Over the centuries people who wanted to have an insurance joined onto a club or society and pay money into the fund every year. There was one problem: how much money should each person put into the fund?

 

–        This question was solved by James Dodson, the maths teacher, who worked in London. He said that people should pay so much money how probable is that they might die. It depended on the age of the person, how healthy he or she was and how risky job he did.

 

Principle of insurance

1^st  underwrite an insurance policy

–     If you want to protect yourself you must underwrite an insurance policy – a contract which shows what you are insured against and the level of compensation that will be paid.

2^nd pay premium

–     You must pay a sum of money called premium – price of insurance paid monthly, quarterly or annually. The premium is related to the risk: the bigger the risk, the higher the premium

3^rd make a claim

–     After the accident you must make an insurance claim for compensation.

4^th financial compensation

 

Insurance companies

–       Insurance companies are in business to make profit. Therefore they aim to collect more money in premiums then they have to pay out in claims.

–       They are usually established as joint-stock companies and provide a wide range of types of insurance.

–       They are large investors on the stock market.

 

In the Czech Republic there are Czech and foreign companies, for example:

• Česká pojišťovna
• Allianz
• Kooperativa …

 

Some useful words

• Underwriter                                        pojistitel
• Broker                                                makléř, zprostředkovatel
• On behalf of general public               jménem široké veřejnosti
• Insurance classes                              druhy pojištění
• Endowment insurance                      pojištění pro případ dožití nebo úmrtí

 

Lloyd’s of London

–        It is a very old international insurance market from the 17^th century. Originally it dealt only in marine insurance but now covers almost any risk (oil refineries, aircraft, road vehicles, satellites) but not life. It consists of two types of members:

–        Underwriters – they sell insurance. They are usually very wealthy people who are responsible for paying insurance claims which they underwrite.

–        Brokers – they buy insurance on behalf of the general public. They deal with underwriters and help people to choose the best insurance.

 

Insurance classes

–      There are two groups of insurance:

 

Life insurance:

a)    Whole life – premiums are paid until insured person dies. The sum of money is then paid out to the dependents.

 

b)    Endowment insurance – premiums are paid for an agreed number of years. The client can receive the money at the end of this period or if the clients dies earlier, dependents inherit the money.

Non-life insurance

–        I. against all risks

–        Burglary i.

–        Travel i.

–        Car i.

–        Household i.

–        Property i.

–        Fire i.

–        Health i.

–        i. of medical expenses

–        i. of youth

–        i. against natural hazards (floods, earthquakes, hurricanes)

 

Insurances of goods

–        Goods-in-transit i.

–        Cash-in-transit i.

–        Insolvency i.

–        Foreign investment i.