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06.01.2023 09:13 •  Английский язык

Text 1. Insurance and Risks People buy insurance to protect themselves against the losses that may result from an accident or catastrophe. For example, a company involved in a major construction project may have all the necessary skills for completing the job but there is still an element of risk. Extreme weather conditions or a natural disaster could damage or destroy the work that has been done. To protect itself, the company can pay a sum of money – a premium – to an insurance company who will underwrite the risk or guarantee to provide financial compensation if such an event occurs. The exact details of this insurance are contained in the insurance policy which is a document showing the risks that have been insured against and the levels of compensation that will be paid. A great variety of risks can nowadays be covered by insurance. Some of the commoner risks which are usual for businesses and private individuals are as follows:
• the destruction of property by fire
• losses arising from burglary or other causes
• goods in transit
• motor vehicles
• third party claims arising out of accidents.
From past experience the probability of many risks can be calculated with great accuracy. In Great Britain insurance business is conducted by insurance companies. The client or the prospective insured first approaches the insurance broker who then puts the client in touch with the insurer. The insurer issues an insurance policy for the insured. It is a document setting out the exact terms and conditions of the insurance transaction. It states the precise risk covered, the period of cover and any exceptions there may be. The insured is to pay a premium the size of which is stated in the policy. In many countries insurance against sickness, unemployment and old age is undertaken by the state. In Great Britain this insurance is undertaken by the state through the National Health Service. The employees’ contributions are deducted from their wages and salaries. The main benefits of this insurance include:
• retirement pensions
• unemployment benefits, or reliefs
• sickness benefits
• maternity grants
• funeral grants
• industrial injuries
• family allowances

Exercise 1. Which are partly true and which are false.
1. People buy insurance to protect their property against an accident or catastrophe.
2. Extreme weather conditions, a natural disaster or acts of war are considered to be insurable risks.
3. An insurance company is called the insured.
4. An individual taking out insurance is called the insurer.
5. Only a narrow range of risks can be insured against.
6. In great Britain it is the insurance broker who underwrites the risks.
7. The insurance policy states the precise risk covered.

Exercise 2. Make your sentences with the word combinations. Translate into Russian.
1. to insure smb. against ….
2. destruction of property by fire
3. losses arising from burglary
4. claims arising out of accidents
5. third party claim
6. to calculate the probability of the risk
7. to cover the risk
8. insurance business
9. insurance company
10. insurance broker
11. insurance policy

Exercise 3. Supply words and expressions which fit the following definitions
1. ‘The money that you pay regularly to an insurance company’
2. ‘Someone who arranges and sells insurance as their job’
3. ‘A written agreement with an insurance company’
4. ‘To arrange insurance covering burglary’
5. ’The person or people who are insured’
6. ‘A person or company that provides insurance’
7. ‘Someone who is not directly involved in an agreement but is affected by it in some way’