外语系. 纺织商务英语 Textile Business English. Module Eight. Packing, Shipment & Insurance. Task 3. Insurance. 1. C ategories of insurance 2. D ecide on how to buy cargo insurance 3. D iscuss insurance issues. Learning Objectives. Lead-in—Group discussion.
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Textile Business English
Packing, Shipment & Insurance
Why do we need to have the cargo insured?
Are insurance policies difficult to understand? Why?
Can insurance companies cover all of your losses in transit?
Notes to the dialogue
Notes to the dialogue
1. CIF 到岸价
2. PICC 中国人民保险公司
3. FPA, WPA, All Risks and Extraneous Risks
4. WAR Risks 战争险
5. make a claim 要求索赔
6. prompt and equitable 迅速公正
Listen to dialogue 2 and complete the following blanks:
Notes to the dialogue
How to decide on insurance?
Cargo insurance (also called marine cargo insurance) covers physical damage, or loss of your goods whilst in transit by land, sea and air and offers considerable opportunities and cost advantages if managed correctly.
Many traders do not want to become involved in arranging this type of insurance because they feel they do not have sufficient knowledge. They see it as an unnecessary expense involving extra administration, and make the mistake of allowing suppliers or customers to control this vital area of business. This loss of control not only increases the difficulties of implementing an effective trade risk management strategy, but can also have far reaching effects on profitability.
Fortunately, this attitude is changing, with more and more companies following the lead of many of the 'blue-chip' manufacturing and trading giants of the UK economy who tend to take full control of this type of insurance.
When you are looking at the types of cargo insurance available, you may come across the term General Average. This is one of the oldest principles of cargo insurance and relates only to ocean and sea voyages but is still relevant in today's trading environment. General Average covers the situation where damage or loss of certain goods occurs so that the remaining cargo and the means of transport are saved. For example, goods may sustain water damage during fire fighting. In this situation, if General Average is declared, all the parties involved must contribute to covering the loss.
Cargo insurance is usually provided by the means of one of three Institute Cargo Clauses - A, B or C, plus War Clauses and Strikes Clauses. Simply put Cargo Clauses A provide the most cover with B and C giving less coverage which is reflected in reduced premiums for the lower cover (somewhat similar to car insurance cover with comprehensive, third party, fire and theft, and third party policies).
Also there is an Institute Cargo Clauses (Air) for movement by air, which is equivalent to the A clauses. Your insurance company or broker will be able to give details of exactly what cover is given by each clause so you can choose the most appropriate for your business needs and trading patterns.
1.Cargo insurance (also called marine cargo insurance) covers physical damage, or loss of your goods whilst in transit by land, sea and air and offers considerable opportunities and cost advantages if managed correctly.
2．This loss of control not only increases the difficulties of implementing an effective trade risk management strategy, but can also have far reaching effects on profitability.
Eg: Then came a new development that had far-reaching effects
This war had far-reaching consequences in all the capitalist countries. 这次战争在所有资本主义国家都产生了深远的影响。
3. General Average covers the situation where damage or loss of certain goods occurs so that the remaining cargo and the means of transport are saved. For example, goods may sustain water damage during fire fighting. In this situation, if General Average is declared, all the parties involved must contribute to covering the loss.
1.Does All Risks cover all the losses?
2. What’s the difference between FPA and WPA?
3. Why do more and more traders see insurance as necessary expenditure?
Translate the following the passage
Insurance companies are among the most important assets to a nation, for by selling their services abroad they are contributing to the balance of payments position by earning foreign currency. A nation what has to import much of what it needs must export as much as possible to pay for the imports. When the cost of the imports exceeds the income from the exports it is said to have “an adverse balance of trade”. But the deficit is often made up by money earned on services which are sold oversea—what are normally called “invisibles”, because they are not goods or commodities—and insurance is one of the most valuable sources of invisible earning to any nation.
For more topic-related information , please
refer to the following websites:
http://wwct.net/ (strongly recommended)