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6. Match the term with its definition.

the terms of the policy; the premium; the current value; the date of expiry; broker; to cancel a policy; policy holder; a marine insurance; to disclaim any liability; the compensation; take out an insurance

1. An insurance especially related to the shipping business.

2. The man who acts as middleman between the client and the insurance company.

3. The estimated value of insured goods.

4. The action of insuring goods from the company.

5. The person or firm who signs an insurance contract.

6. The conditions of the contract.

7. The date when the insurance contract comes to an end.

8. To interrupt the insurance contract.

9. The sum paid by the insured party to the company.

10. The sum paid by the company to the insured party after an accident.

11. The act of not feeling responsible for an accident.

7. Answer the questions to the text.

1. What is necessary while sending goods by sea, air, road or rail?

2. What do the terms of the policy cover?

3. What influences the sum of compensation?

4. What defines the insurance policy?

5. How often is it necessary to renew a policy?

6. What is needed to renew a policy?

7. What is needed when one of the parties doesn’t want to renew a policy?

8. What happens when an average takes place?

9. Who assess the damage when an average takes place?

10. What is the result of the surveyor’s work?

11. What are the duties of surveyor?

12. What belongs to the duties of ship’s captain?

13. Can the insured party abandon the goods to the company?

14. What can sometimes the insured party make to receive larger compensation?

15. Can the erroneous statement be a case for litigation?

16. What party will suffer more in a case for litigation because of erroneous statement: policy holder or the insurer?

8. Role-play.

Student A

You are an insurance broker of Providna and have to insure the transporting goods (silicate brick). Discuss the terms of the policy with the representative of RivneSich.

Student B

You are a representative of RivneSich, a company that has to transport building materials (silicate brick) from Poland to Ukraine. Discuss the terms of the policy with the broker of Providna.

9. Comment on the following situation.

a) In winters the transporting firm “Nick-Trans” transports goods, esp. perishable goods like fruit without getting them insured.

b) Last week it was very snowy and frosty. The lorry carrying grapes got into a ditch for 2 days. As the driver couldn’t manage to deliver the goods in time, they were partially damaged.

c) Because of bad winter weather the lorry carrying eggs had an accident and became a complete write-off. All the cargo was damaged.

10. Speak about:

a) an insurance and its importance;

b) broker’s duties:

c) terms of the policy;

d) an average and its consequences;

e) duties of ship’s captain;

f) surveyor’s duties

11. Annotate the text.

Project Work: Speak about the role of packaging and insurance while transporting goods.

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