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Vocabulary Notes on the Text

1 to gain indemnity - обеспечить возмещение убытков.

2 insurance premium - страховое вознаграждение, премия.

3 insurance coverage - страховое покрытие.

4 insurance against fire - страхование от пожара.

5 theft/burglary insurance - страхование на случай кражи.

6 accidence insurance - страхование от несчастных случаев.

7 against all risks - страхование от всех рисков.

8 "with average" - включая аварию.

9 "free of particular average" - свободно от частной аварии.

10 general average - общая авария.

11 a floating policy - генеральный страховой полис.

12 a cover note - "ковернот", свидетельство о страховании.

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Exercises on the Text

1. Read and translate the text.

2. Translate the following words and learn their pronunciation:

indemnity; burglary; threat; premium; coverage; average; pilferage; vibration; hazards; adventure; financial; particular; towing; warehoused; accidentally; extraordinary; repair; lighten; neglect

3. Answer the following questions:

  • 1) What is the general idea of insurance?

  • 2) What kind of hazards can arise while goods are being stored or are in transit?

  • 3) How are goods normally insured?

  • 4) How is insurance value calculated?

  • 5) What types of insurance coverage can you mention?

  • 6) What do W.A. and P.P.A. clauses mean?

  • 7) What’s the difference between a particular average and a general average?

  • 8) What kind of documents are issued by insurers?

4. Explain the meanings of the following terms in English:

insurance premium; insurance policy; insurance certificate; a floating policy; a cover note; particular average; general average; W.A. clause insurance; P.P.A. clause insuarance; burglary; pilferage

5. Use the terms of Exercise 4 in sentences of your own.

6. Reproduce the situations from the text where these collocations were used:

to gain indemnity; to go wrong; to disappear without trace; to cause damage; to put out a fire; to act as a contract; to cover goods up to a large sum of money; to give proof of smth

7. Give English equivalents of the following:

страховка (страховая сумма); страховое дело; страховая премия; страховое покрытие; страхование от пожара/на случай кражи/от всех рисков; генеральный страховой полис; воровство; мелкая кража; плохое обращение (с товаром); риск

8. Sum up the contents of the text according to your own plan.

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Vocabulary and Speech Exercises

9. Insert the appropriate prepositions:

1) Nowadays carrying__goods can be effected__sea,__air,__rail and__road. One transaction may involve both land and sea transportation, that is first goods may be carried__railway or road means__conveyance and then__ships. Henceforth the export trade is subject__many risks, because consignments may be damaged__transit.

2) Usually exporters insure their goods__all kinds__risk__professional insurance companies, __example Lloyd’s__Great Britain or "Ingosstrakh"__Russia, which__return__a fee known as a premium will compensate__them if any loss or damage__the goods occurs. Insurance is therefore a contract__indemnity which is called an Insurance Policy.

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