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Exercises

1. Translate into Ukrainian:

  1. If this person had been insured he would have got a

compensation. But he was not.

  1. The house would have been destroyed by fire if the fire-

brigade had come later.

  1. The equipment would not have been damaged if it had

been packed properly.

  1. There would not have been a railway accident if the

lights had functioned normally.

  1. If they had been informed of the conference in time

they would have taken part in it.

2. Translate into English:

1) Вони б застрахували вантаж в іншій страховій

компанії, як би у контракті не було б спеціального

застереження.

2) Якщо б ви нам повідомили раніше, ми б вже давно

направили вам ці документи.

3) Я би зробив це вчора, якщо б в мене був час.

3. Match the English and Ukrainian equivalents:

to cover the risk

страховий бізнес

insurance business

страховий поліс

insurance company

страховий ризик

insurance broker

страхова компанія

insurance policy

страховий брокер

insurance cover

страхування

insurance transaction

угода про страхування

insurer

страхувальник

the insured

покривати ризик

4. Translate into Ukrainian:

losses arising from burglary

claims arising out of accidents

to insure smb against...

third party claims

destruction of property by

fire

to calculate the probability of the risk

5. Sum up what the text said about:

types of risks covered by insurance

insurance brokers and insurance companies

insurance policies

insurance against unemployment and old age in Great

Britain

6. Say which of the benefits of the insurance of working

people in England is most important, to your mind.

7. Answer the following questions:

  1. Is insurance business very popular in Ukraine?

  2. What insurance companies of our country do you

know?

  1. Are there any insurance brokers in our business

activities here?

  1. What types of insurance are practised here, as far as you

know?

8. Match the terms and their interpretations:

1) an insurer

It is a document setting out the exact terms and conditions of the insurance transaction

2) an insurance policy

The company issuing insurance policies

3) an insurance broker

The person putting the client in touch with the insurer

4) the insured

The person or some business insured

Text 2:Life and industrial assurance

One of the main branches of insurance is life assurance. It is a comparatively recent type of insurance.

Life assurance is different from all other branches of insur­ance. In case of insurance there is no certainty that the in­sured may face the risk against which he has been insured. The risk may never occur. But in case of life assurance the risk is certain to occur sooner or later. The only uncertainty is the time of occurrence.

There are two types of life assurance:

  • endowment

  • whole life assurance

Endowment assurance is provided for a specified number of years or until the attainment of a certain age. The sum assured is paid either at the agreed time or on the death of the assured.

Whole life assurance is less popular. The premiums must be paid to the assurer until the death of the insured.

Premiums for endowment and whole life assurance are paid quarterly or annually.

Industrial assurance is a branch of life assurance. Indus­trial assurance policies are usually for small amounts. The premiums are collected weekly by the company's agents.

The largest life assurance company in Great Britain is Prudential Assurance Co., established in 1845. Besides all kinds of life assurance Prudential Assurance Company under­takes many types of insurance.