保险英语Unit 8

　　[00:00.00]A risk management program
[00:02.46]The scientific method of planning to deal with losses is called risk management.
[00:08.12]A risk management program usually involves three steps:
[00:12.77]1.Identifying and measuring exposures to loss
[00:17.66]2.Developing and implementing² plans to deal with potential losses after they have been identified
[00:25.50]3.Regularly reevaluating and updating the risk management program
[00:31.66]Identifying and measuring exposures
[00:34.87]The recognition that a problem exists is always the first step in solving the problem.
[00:41.01]Recognizing one's exposure to loss requires organized thinking about the subject.
[00:47.15]One starting point is to categorize the sources of loss into speculative³ or pure risk exposures.
[00:55.28]Speculative risks are exposures that can result in gains or losses and usually are not the subject of risk management.
[01:04.65]Losses or gains that result from bad or good management decisions,from a competitor's actions,
[01:11.60]or from government intervention⁴ in the economy are examples of speculative risks,
[01:17.64]and these are usually outside the scope of the risk manager's responsibility.
[01:22.76]Price fluctuation⁵ in commodities or foreign currencies,however,can result in gain or loss,
[01:30.44]and this speculative risk can be managed with a hedging program.
[01:35.63]On the other hand,pure risks can result only in losses and usually arise from the following sources:
[01:43.89]1.Direct losses of property
[01:47.15]2.Indirect losses of income because normal business activity has been interrupted by a direct loss
[01:54.89]3.Liability losses
[01:57.86]4.Losses due to death or disability of key personnel
[02:03.53]These pure risks usually can be managed once they have been identified and measured.
[02:09.31]Regarding measurement,it is well to remember that,before a loss occurs,measurement is merely an estimate.
[02:17.30]Not all preloss estimates will necessarily reflect with accuracy the actual amount of damages or even the actual amount of exposure to loss.
[02:27.25]Developing and implementing a risk management program
[02:32.01]After all potential sources of loss have been identified and measured,
[02:36.24]it is the job of the risk manager to develop and implement¹ plans to deal with the potential losses before they occur.
[02:43.94]Accomplishing this task demands a knowledge of the alternative methods of dealing⁶ with risk,the uncertainty⁷ about loss.
[02:51.91]In addition to insurance,six other methods of dealing with potential losses are:
[02:57.82]1.Risk avoidance
[03:00.40]2.Risk assumption
[03:03.04]3.Self-insurance
[03:05.86]4.Loss prevention
[03:08.68]5.Loss reduction
[03:11.37]6.Risk transfer other than insurance
[03:15.06]A thorough risk management program is the result of the consideration of all these alternatives,
[03:21.35]rather than the reliance on just one method of dealing with an exposure to loss.
[03:26.63]In every case the risk manager with carefully weigh the ratio of the costs of a particular risk management approach withthe potential benefits to be produced.
[03:36.82]Since unlimited⁸ budgets for risk management are not the rule,spending priorities must be established.
[03:44.34]Also determining the choice of an appropriate tool are an estimate of the chance of loss and an estimate of the severity of a potential loss.
[03:53.69]Once a decision has been made to treat an exposure to loss with a given risk management tool,the decision must be implemented⁹.
[04:02.73]For example,if it has been decided¹⁰ to purchase insurance,
[04:06.88]arrangements must be made to acquire the proper amount of insurance at the best possible price accompanied by all the service needed or desired.
[04:16.39]Equally important,once the insurance is in force,
[04:20.36]the risk manager must be familiar with the terms of the contract so that none of the firm's actions cause the coverage¹¹ to be suspended
[04:28.54]or the conditions of the contract to be breached¹³ in any way either before or after a loss occurs.
[04:35.17]If a loss prevention program is decided upon,the risk manager must see to it that all affected¹⁴ employees,
[04:43.19]know what the plan's aims are and what part they are expected to play in the program.
[04:48.47]The risk manager must remain alert to any advances in safety engineering that may make a given operation or plant or store a safer place in which to work.
[04:59.96]The insurance mechanism¹⁵
[05:02.18]One of the chief problems that risk management has had to overcome has been to differentiate¹⁶ itself from insurance,
[05:10.20]partly because of the insurance background of many of the pioneers in risk management thinking,
[05:15.77]and partly because risk-at least those varieties of it with which risk management is chiefly concerned-
[05:22.82]has for so long been considered the preserve of insurance alone.
[05:27.50]The confusion has been perpetuated¹⁷ because insurance retains such an important role as the main method of risk financing in a risk management programme.
[05:37.61]Risk management does not supersede¹⁸ insurance,but puts it in its proper perspective,
[05:43.30]as fulfilling a useful function determined¹⁹ after critical assessment²⁰ of what it has to offer compared with other financing possibilities.
[05:52.52]To get the best out of any risk management programme,therefore,requires a knowledge of how the insurance mechanism works,
[06:00.52]and an appreciation²¹ of ways in which the insurance industry treats the risk passed on to it in return for the premium²² paid.
[06:09.35]For the purchaser,insurance provides a method of smoothing loss experience over a period of time,
[06:16.22]by exchanging the static risk which is insured for the smaller risk of the failure of the insurer to settle a claim when it is made,
[06:24.68]either through lack of funds or by some breach¹² of the conditions of the insurance contract by the insured himself.
[06:32.25]Except for the small insured,or the catastrophic loss,it is unlikely that the cost of loss will be permanently²³ transferred from the insured to the insurer;
[06:43.20]for the latter will seek to recover what he has paid out by increased premiums²⁴ in subsequent years,
[06:49.94]or he may already have recovered it in previous years when the premiums paid have been greater than the amount needed to pay claims and meet the insurer's expenses.
[07:00.75]Where the market for a particular type of risk is not governed by rating agreements between insurers,
[07:07.05]it may be possible to defer²⁵ or avoid repayment²⁶ of the cost of loss by changing insurers,
[07:14.34]but in most cases this will be only a short-term solution,
[07:18.88]unless there has been some substantial improvement in loss control to improve the probable future cost of loss.
[07:26.67]A new insurer may offer a lower premium,taking the chance that the loss experience will improve,
[07:33.59]but if it does not,then the premium cost is likely to rise to,and perhaps beyond,its old level.
[07:41.19]The service of chronological²⁷ loss spreading is,however,what the insured really needs,
[07:47.41]even if the total cost is not thereby²⁸ reduced,for it enables him to reduce the annual cost of large losses to a size at which they can be borne in a single accounting²⁹ year.
[07:58.98]From the insurer's point of view,the risk that is transferred to him has a different aspect.
[08:05.51]What was a static risk for the insured becomes a dynamic risk for the insurer,
[08:10.97]for in his hands it presents possibilities either of profit or of loss.
[08:16.54]The fact that a reinsurance market exists as a method of treating this risk is,
[08:21.84]however,a reminder³⁰ that static risk and insurable risk are not synonymous terms.
[08:28.58]The methods the insurer uses to treat the risk he carries are themselves a good example of risk management in action.
[08:36.00]He seeks first of all to diminish his risk by ensuring that it is well spread.
[08:42.21]This is achieved in a number of ways.
[08:44.72]First,a good spread of risk is sought by endeavouring to ensure that the portfolio³¹ he is insuring consists of a large number of similar items.
[08:54.47]This will give the greatest play to the operation of the law of large numbers,and thus improve the predictability of the loss experience.
[09:02.90]Next,the insurer will wish these insurances to come from many different locations to provide the necessary geographical³² spread
[09:12.05]to minimise the chance of an abnormal loss experience due to a localised catastrophe³³.

1 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

2 implementing   

v.实现( implement的现在分词 )；执行；贯彻；使生效

参考例句：

• -- Implementing a comprehensive drug control strategy. ――实行综合治理的禁毒战略。 来自汉英非文学 - 白皮书
• He was in no hurry about implementing his unshakable principle. 他并不急于实行他那不可动摇的原则。 来自辞典例句

3 speculative   

adj.思索性的，暝想性的，推理的

参考例句：

• Much of our information is speculative.我们的许多信息是带推测性的。
• The report is highly speculative and should be ignored.那个报道推测的成分很大，不应理会。

4 intervention   

n.介入，干涉，干预

参考例句：

• The government's intervention in this dispute will not help.政府对这场争论的干预不会起作用。
• Many people felt he would be hostile to the idea of foreign intervention.许多人觉得他会反对外来干预。

5 fluctuation   

n.(物价的)波动，涨落；周期性变动；脉动

参考例句：

• The erratic fluctuation of market prices are in consequence of unstable economy.经济波动致使市场物价忽起忽落。
• Early and adequate drainage is essential if fluctuation occurs.有波动感时，应及早地充分引流。

6 dealing   

n.经商方法，待人态度

参考例句：

• This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
• His fair dealing earned our confidence.他的诚实的行为获得我们的信任。

7 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

8 unlimited   

adj.无限的，不受控制的，无条件的

参考例句：

• They flew over the unlimited reaches of the Arctic.他们飞过了茫茫无边的北极上空。
• There is no safety in unlimited technological hubris.在技术方面自以为是会很危险。

9 implemented   

v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效

参考例句：

• This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
• The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。 来自辞典例句

10 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

11 coverage   

n.报导，保险范围，保险额，范围，覆盖

参考例句：

• There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
• This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。

12 breach   

n.违反，不履行；破裂；vt.冲破，攻破

参考例句：

• We won't have any breach of discipline.我们不允许任何破坏纪律的现象。
• He was sued for breach of contract.他因不履行合同而被起诉。

13 breached   

攻破( breach的现在分词 )； 破坏，违反

参考例句：

• These commitments have already been breached. 这些承诺已遭背弃。
• Our tanks have breached the enemy defences. 我方坦克车突破了敌人的防线。

14 affected   

adj.不自然的，假装的

参考例句：

• She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
• His manners are affected.他的态度不自然。

15 mechanism   

n.机械装置；机构，结构

参考例句：

• The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
• The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

16 differentiate   

vi.(between)区分；vt.区别；使不同

参考例句：

• You can differentiate between the houses by the shape of their chimneys.你可以凭借烟囱形状的不同来区分这两幢房子。
• He never learned to differentiate between good and evil.他从未学会分辨善恶。

17 perpetuated   

vt.使永存（perpetuate的过去式与过去分词形式）

参考例句：

• This system perpetuated itself for several centuries. 这一制度维持了几个世纪。
• I never before saw smile caught like that, and perpetuated. 我从来没有看见过谁的笑容陷入这样的窘况，而且持续不变。 来自辞典例句

18 supersede   

v.替代；充任

参考例句：

• We must supersede old machines by new ones.我们必须以新机器取代旧机器。
• The use of robots will someday supersede manual labor.机器人的使用有一天会取代人力。

19 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

20 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？

21 appreciation   

n.评价；欣赏；感谢；领会，理解；价格上涨

参考例句：

• I would like to express my appreciation and thanks to you all.我想对你们所有人表达我的感激和谢意。
• I'll be sending them a donation in appreciation of their help.我将送给他们一笔捐款以感谢他们的帮助。

22 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。

23 permanently   

adv.永恒地，永久地，固定不变地

参考例句：

• The accident left him permanently scarred.那次事故给他留下了永久的伤疤。
• The ship is now permanently moored on the Thames in London.该船现在永久地停泊在伦敦泰晤士河边。

24 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》

25 defer   

vt.推迟，拖延；vi.(to)遵从，听从，服从

参考例句：

• We wish to defer our decision until next week.我们希望推迟到下星期再作出决定。
• We will defer to whatever the committee decides.我们遵从委员会作出的任何决定。

26 repayment   

n.偿还，偿还款；报酬

参考例句：

• I am entitled to a repayment for the damaged goods.我有权利索取货物损坏赔偿金。
• The tax authorities have been harrying her for repayment.税务局一直在催她补交税款。

27 chronological   

adj.按年月顺序排列的，年代学的

参考例句：

• The paintings are exhibited in chronological sequence.这些画是按创作的时间顺序展出的。
• Give me the dates in chronological order.把日期按年月顺序给我。

28 thereby   

adv.因此，从而

参考例句：

• I have never been to that city,,ereby I don't know much about it.我从未去过那座城市，因此对它不怎么熟悉。
• He became a British citizen,thereby gaining the right to vote.他成了英国公民，因而得到了投票权。

29 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

30 reminder   

n.提醒物，纪念品；暗示，提示

参考例句：

• I have had another reminder from the library.我又收到图书馆的催还单。
• It always took a final reminder to get her to pay her share of the rent.总是得发给她一份最后催缴通知，她才付应该交的房租。

31 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

32 geographical   

adj.地理的；地区(性)的

参考例句：

• The current survey will have a wider geographical spread.当前的调查将在更广泛的地域范围內进行。
• These birds have a wide geographical distribution.这些鸟的地理分布很广。

33 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。