保险英语Unit 5

　　[00:00.00]Different types of credit cover
[00:02.51]·HEADING A
[00:04.23]Offered by a number of underwriters in the UK and on the continent,this policy structure protects against the catastrophe¹ risk.
[00:13.09]Sometimes called "Excess of Loss" or "Stop Loss cover",
[00:17.48]the underwriting philosophy is centred around the insured's existing in-house credit management controls.
[00:24.71]The insured will agree a "first loss" or non-qualifying loss designed to eliminate predictable lower level losses.
[00:32.89]Bad debt losses in excess of this level accumulate within a second predetermined band or layer,
[00:39.76]referred to as the annual aggregate².
[00:42.37]A layer of cover is then purchased in excess of this self-insured proportion.
[00:47.96]Cover of up to 100% of each qualifying loss in excess of this agreed annual aggregate is available.
[00:55.67]The cover is normally fixed³ up to an agreed ceiling of annual losses,known as the "maximum liability."
[01:03.84]·HEADING B
[01:05.15]This is the more traditional credit insurance policy,normally protecting all sales under a single policy.
[01:12.57]The policy provides the credit manager with up-to-date financial advice on all principal customers.
[01:19.07]Generally the insured will self-insure an element of each credit limit.Normally indemnity⁴ is 80%-85%.
[01:29.18]At commencement of the policy an assessment⁵ is made of turnover⁶ likely to be declared under the policy.
[01:36.26]The underwriter will agree an annual premium⁷ rate charged against such declarations,usually quarterly.
[01:43.47]·HEADING C
[01:44.99]Some insurers now offer pre-delivery cover as an additional element of whole turnover cover.
[01:51.60]Indemnity is the same as normal credit risk and premium is either charged as an additional rate on turnover or is combined in a single charge.
[02:01.65]·HEADING D
[02:03.06]More companies are now expanding their export business and require a simple,
[02:08.57]cost-effective credit insurance policy which does not automatically provide unnecessary political risk cover.
[02:16.15]Multi market insurance has been designed to provide cover in a single policy against the risk of non-payment,
[02:22.99]due to insolvency⁸ or protracted⁹ default,in the UK and most OECD markets.
[02:29.50]All credit risks are covered with 90% indemnity for both UK and export sales.
[02:36.29]Financial advice is also available on major buyers.
[02:40.13]·HEADING E
[02:41.33]Occasionally one debtor¹⁰ may represent an inordinately¹¹ large element of a company's turnover.
[02:48.54]Although one argument suggests that if the buyer is undoubted,then credit insurance cover is not necessary,
[02:55.91]the catastrophic effect of non-payment,due to unforeseeable or uncontrollable events,would invariably suggest otherwise.
[03:03.93]Principal customer cover provides protection against non-payment through insolvency of larger buyers.
[03:10.98]The benefit of financial advice is available and indemnities¹² vary between 70%-90%.
[03:17.64]This type of cover is sometimes referred to as "Datum¹³ Line" cover.
[03:22.87]·HEADING F
[03:24.28]Insures individual target risks or the large single contract.
[03:29.40]Premium can be charged as a percentage rate on insured sales,but is more likely to be calculated as a rate on contract value.
[03:38.51]Indemnity varies from 75% to 100%,dependent upon the quality of risk.
[03:45.25]·HEADING G
[03:46.61]Insures the advance payments made to a supplier prior to receipt of goods.
[03:52.02]The policy can also be extended to cover consequential¹⁴ loss which may be incurred¹⁵ if the supplier defaults.
[03:59.18]Policies are usually underwritten on a single contract basis with premium charged as a fixed amount on contract value.
[04:07.82]Indemnity up to 100% is available.
[04:11.64]Five-tier rate system controversial
[04:14.56]Germany's export credit insurance system came of age on July 1 with the abandonment of a 50-year-old system of uniform premium rates.
[04:24.49]A five-tier system was introduced which effectively reduced the former standard premium by two-thirds for cover on deals with lowest-risk countries,
[04:34.94]and doubled it for companies doing business with the world's economic laggards¹⁶.
[04:39.51]While the government saw the change as an occasion for celebration,
[04:43.43]industry and the opposition¹⁷ remained as resolutely¹⁸ glum¹⁹ as they had through more than two years of consultation²⁰.
[04:51.06]Certain media commentators²¹ were downright aggressive.
[04:54.74]One leading newspaper,for example,described the move as an insurance policy for the Bonn government paid for by exporters.
[05:03.49]East German politicians complained that because of the heavier premiums²² for deals with their manufacturers' traditional Russian and other east bloc²³ countries,
[05:13.68]export credit insurance would now exclusively benefit west German companies.
[05:18.82]Bonn was insistent²⁴ that the changes should go through.
[05:22.17]Germany was behind the times,it said,being the only major exporter to apply uniform tariffs²⁵.
[05:28.67]It also had international agreements to honour:subsidy rules in the General Agreement on Tariffs and Trade required export credit insurance schemes to be independent and self-supporting.
[05:41.68]The old system was increasingly failing to meet these criteria²⁶.
[05:45.70]At the same time,the Bonn administration was under strict orders from the Bundesbank to cut state spending wherever possible.
[05:53.91]Mounting deficits²⁸ in the state-sponsored Hermes insurance programme,administered by the Allianz group,were a clear target.
[06:02.14]The federal budget subsidised the Hermes programme to the tune²⁹ of a record DM5.1bn last year,
[06:10.10]and a further escalation³⁰ to DM7.5bn(regardless of the impact of the new premiums) has already been earmarked for the current year.
[06:19.74]As Gunter Rexrodt,economics minister,pointed out recently,
[06:23.71]DM4.5bn of the 1993 Hermes deficit²⁷ was due to outstanding debts from the former Soviet³¹ Union.
[06:32.18]While he failed to mention that countries such as Russia and the Ukraine-still important outlets³² for east Germany's struggling industry-had been placed in the worst risk grade,
[06:43.33]he made much of cheaper premiums for other countries where west German exporters are hoping to find new growth.
[06:50.64]Singapore,Taiwan and South Korea are now in the top rank-"countries without special risks".
[06:57.93]For export credit insurance purposes,they are now on equal terms with large industrialised nations for which the services of Hermes play no role.
[07:07.55]Premiums on deals with China and the Czech Republic are reduced by a third.
[07:12.80]Mr Rexrodt insisted that higher premiums for Russia and former Soviet Union states offered no disadvantages to German exporters,
[07:21.89]since competing nations had long since been paying more for cover there.
[07:26.90]While the minister side-stepped the implications for east Germany,
[07:31.00]his ministry³³ officials had earlier ridden rough-shod over protests.
[07:35.00]At a March meeting in the Baltic state of Mecklenburg-Vorpommern,
[07:39.31]regional leaders protested that Hermes operated exclusively on behalf of west German interests.
[07:45.55]A Hermes representative was able to demonstrate the charge as untrue with figures which at the same time,
[07:52.32]which at the same time starkly³⁴ illustrated³⁵ just how important the system was to the region's economy.
[07:57.70]While Hermes covered 6 per cent at most of all German exports,the proportion rose to 50 per cent in the former GDR.

1 catastrophe   

n.大灾难，大祸

参考例句：

• I owe it to you that I survived the catastrophe.亏得你我才大难不死。
• This is a catastrophe beyond human control.这是一场人类无法控制的灾难。

2 aggregate   

adj.总计的，集合的；n.总数；v.合计；集合

参考例句：

• The football team had a low goal aggregate last season.这支足球队上个赛季的进球总数很少。
• The money collected will aggregate a thousand dollars.进帐总额将达一千美元。

3 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

4 indemnity   

n.赔偿，赔款，补偿金

参考例句：

• They paid an indemnity to the victim after the accident.他们在事故后向受害者付了赔偿金。
• Under this treaty,they were to pay an indemnity for five million dollars.根据这项条约，他们应赔款500万美元。

5 assessment   

n.评价；评估；对财产的估价，被估定的金额

参考例句：

• This is a very perceptive assessment of the situation.这是一个对该情况的极富洞察力的评价。
• What is your assessment of the situation?你对时局的看法如何？

6 turnover   

n.人员流动率，人事变动率；营业额，成交量

参考例句：

• The store greatly reduced the prices to make a quick turnover.这家商店实行大减价以迅速周转资金。
• Our turnover actually increased last year.去年我们的营业额竟然增加了。

7 premium   

n.加付款；赠品；adj.高级的；售价高的

参考例句：

• You have to pay a premium for express delivery.寄快递你得付额外费用。
• Fresh water was at a premium after the reservoir was contaminated.在水库被污染之后，清水便因稀而贵了。

8 insolvency   

n.无力偿付，破产

参考例句：

• The company is on the verge of insolvency.该公司快要破产了。
• Normal insolvency procedures should not be applied to banks.通常的破产程序不应当适用于银行。

9 protracted   

adj.拖延的；延长的v.拖延“protract”的过去式和过去分词

参考例句：

• The war was protracted for four years. 战争拖延了四年。 来自《简明英汉词典》
• We won victory through protracted struggle. 经过长期的斗争，我们取得了胜利。 来自《简明英汉词典》

10 debtor   

n.借方，债务人

参考例句：

• He crowded the debtor for payment.他催逼负债人还债。
• The court granted me a lien on my debtor's property.法庭授予我对我债务人财产的留置权。

11 inordinately   

adv.无度地，非常地

参考例句：

• But if you are determined to accumulate wealth, it isn't inordinately difficult. 不过，如果你下决心要积累财富，事情也不是太难。 来自互联网
• She was inordinately smart. 她非常聪明。 来自互联网

12 indemnities   

n.保障( indemnity的名词复数 )；赔偿；赔款；补偿金

参考例句：

• Experience shows that large indemnities do not work. 经验证明大量的赔款是行不通的。 来自辞典例句
• The imperialist powers repeatedly forced the Qing government to cede territory and pay indemnities. 帝国主义列强多次强迫清朝政府割地赔款。 来自辞典例句

13 datum   

n.资料；数据；已知数

参考例句：

• The author has taught foreigners Chinese manyand gathered rich language and datum.作者长期从事对外汉语教学，积累了丰富的语言资料。
• Every theory,datum,or fact is generated by purpose.任何理论，资料、事实都来自于一定的目的。

14 consequential   

adj.作为结果的，间接的；重要的

参考例句：

• She was injured and suffered a consequential loss of earnings.她受了伤因而收入受损。
• This new transformation is at least as consequential as that one was.这一新的转变至少和那次一样重要。

15 incurred   

[医]招致的，遭受的； incur的过去式

参考例句：

• She had incurred the wrath of her father by marrying without his consent 她未经父亲同意就结婚，使父亲震怒。
• We will reimburse any expenses incurred. 我们将付还所有相关费用。

16 laggards   

n.落后者( laggard的名词复数 )

参考例句：

• I would say the best students at Chengdu are no laggards. 依我看成都最优秀的学生绝不逊色。 来自《简明英汉词典》
• The laggards include utilities and telecommunications, up about % and 12% respectively, to MSCI. 据摩根士丹利资本国际的数据，涨幅居后的包括公用事业和电信类股，分别涨了约%和12%。 来自互联网

17 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。

18 resolutely   

adj.坚决地，果断地

参考例句：

• He resolutely adhered to what he had said at the meeting. 他坚持他在会上所说的话。
• He grumbles at his lot instead of resolutely facing his difficulties. 他不是果敢地去面对困难，而是抱怨自己运气不佳。

19 glum   

adj.闷闷不乐的，阴郁的

参考例句：

• He was a charming mixture of glum and glee.他是一个很有魅力的人，时而忧伤时而欢笑。
• She laughed at his glum face.她嘲笑他闷闷不乐的脸。

20 consultation   

n.咨询；商量；商议；会议

参考例句：

• The company has promised wide consultation on its expansion plans.该公司允诺就其扩展计划广泛征求意见。
• The scheme was developed in close consultation with the local community.该计划是在同当地社区密切磋商中逐渐形成的。

21 commentators   

n.评论员( commentator的名词复数 )；时事评论员；注释者；实况广播员

参考例句：

• Sports commentators repeat the same phrases ad nauseam. 体育解说员翻来覆去说着同样的词语，真叫人腻烦。
• Television sports commentators repeat the same phrases ad nauseam. 电视体育解说员说来说去就是那么几句话，令人厌烦。 来自《简明英汉词典》

22 premiums   

n.费用( premium的名词复数 )；保险费；额外费用；（商品定价、贷款利息等以外的）加价

参考例句：

• He paid premiums on his life insurance last year. 他去年付了人寿保险费。 来自《现代英汉综合大词典》
• Moves are afoot to increase car insurance premiums. 现正在酝酿提高汽车的保险费。 来自《简明英汉词典》

23 bloc   

n.集团；联盟

参考例句：

• A solid bloc of union members support the decision.工会会员团结起来支持该决定。
• There have been growing tensions within the trading bloc.贸易同盟国的关系越来越紧张。

24 insistent   

adj.迫切的，坚持的

参考例句：

• There was an insistent knock on my door.我听到一阵急促的敲门声。
• He is most insistent on this point.他在这点上很坚持。

25 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

26 criteria   

n.标准

参考例句：

• The main criterion is value for money.主要的标准是钱要用得划算。
• There are strict criteria for inclusion in the competition.参赛的标准很严格。

27 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

28 deficits   

n.不足额( deficit的名词复数 )；赤字；亏空；亏损

参考例句：

• The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句

29 tune   

n.调子；和谐，协调；v.调音，调节，调整

参考例句：

• He'd written a tune,and played it to us on the piano.他写了一段曲子，并在钢琴上弹给我们听。
• The boy beat out a tune on a tin can.那男孩在易拉罐上敲出一首曲子。

30 escalation   

n.扩大，增加

参考例句：

• The threat of nuclear escalation remains. 核升级的威胁仍旧存在。 来自辞典例句
• Escalation is thus an aspect of deterrence and of crisis management. 因此逐步升级是威慑和危机处理的一个方面。 来自辞典例句

31 Soviet   

adj.苏联的，苏维埃的；n.苏维埃

参考例句：

• Zhukov was a marshal of the former Soviet Union.朱可夫是前苏联的一位元帅。
• Germany began to attack the Soviet Union in 1941.德国在1941年开始进攻苏联。

32 outlets   

n.出口( outlet的名词复数 )；经销店；插座；廉价经销店

参考例句：

• The dumping of foreign cotton blocked outlets for locally grown cotton. 外国棉花的倾销阻滞了当地生产的棉花的销路。 来自《简明英汉词典》
• They must find outlets for their products. 他们必须为自己的产品寻找出路。 来自《现代汉英综合大词典》

33 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

34 starkly   

adj. 变硬了的,完全的 adv. 完全,实在,简直

参考例句：

• The city of Befast remains starkly divided between Catholics and Protestants. 贝尔法斯特市完全被处在天主教徒和新教徒的纷争之中。
• The black rocks stood out starkly against the sky. 那些黑色的岩石在天空衬托下十分显眼。

35 illustrated   

adj. 有插图的，列举的 动词illustrate的过去式和过去分词

参考例句：

• His lecture was illustrated with slides taken during the expedition. 他在讲演中使用了探险时拍摄到的幻灯片。
• The manufacturing Methods: Will be illustrated in the next chapter. 制作方法将在下一章说明。