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时间:2006-01-16 16:00:00

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(单词翻译)

  [00:00.00]A risk management program
[00:02.46]The scientific method of planning to deal with losses is called risk management.
[00:08.12]A risk management program usually involves three steps:
[00:12.77]1.Identifying and measuring exposures to loss
[00:17.66]2.Developing and implementing2 plans to deal with potential losses after they have been identified
[00:25.50]3.Regularly reevaluating and updating the risk management program
[00:31.66]Identifying and measuring exposures
[00:34.87]The recognition that a problem exists is always the first step in solving the problem.
[00:41.01]Recognizing one's exposure to loss requires organized thinking about the subject.
[00:47.15]One starting point is to categorize the sources of loss into speculative3 or pure risk exposures.
[00:55.28]Speculative risks are exposures that can result in gains or losses and usually are not the subject of risk management.
[01:04.65]Losses or gains that result from bad or good management decisions,from a competitor's actions,
[01:11.60]or from government intervention4 in the economy are examples of speculative risks,
[01:17.64]and these are usually outside the scope of the risk manager's responsibility.
[01:22.76]Price fluctuation5 in commodities or foreign currencies,however,can result in gain or loss,
[01:30.44]and this speculative risk can be managed with a hedging program.
[01:35.63]On the other hand,pure risks can result only in losses and usually arise from the following sources:
[01:43.89]1.Direct losses of property
[01:47.15]2.Indirect losses of income because normal business activity has been interrupted by a direct loss
[01:54.89]3.Liability losses
[01:57.86]4.Losses due to death or disability of key personnel
[02:03.53]These pure risks usually can be managed once they have been identified and measured.
[02:09.31]Regarding measurement,it is well to remember that,before a loss occurs,measurement is merely an estimate.
[02:17.30]Not all preloss estimates will necessarily reflect with accuracy the actual amount of damages or even the actual amount of exposure to loss.
[02:27.25]Developing and implementing a risk management program
[02:32.01]After all potential sources of loss have been identified and measured,
[02:36.24]it is the job of the risk manager to develop and implement1 plans to deal with the potential losses before they occur.
[02:43.94]Accomplishing this task demands a knowledge of the alternative methods of dealing6 with risk,the uncertainty7 about loss.
[02:51.91]In addition to insurance,six other methods of dealing with potential losses are:
[02:57.82]1.Risk avoidance
[03:00.40]2.Risk assumption
[03:03.04]3.Self-insurance
[03:05.86]4.Loss prevention
[03:08.68]5.Loss reduction
[03:11.37]6.Risk transfer other than insurance
[03:15.06]A thorough risk management program is the result of the consideration of all these alternatives,
[03:21.35]rather than the reliance on just one method of dealing with an exposure to loss.
[03:26.63]In every case the risk manager with carefully weigh the ratio of the costs of a particular risk management approach withthe potential benefits to be produced.
[03:36.82]Since unlimited8 budgets for risk management are not the rule,spending priorities must be established.
[03:44.34]Also determining the choice of an appropriate tool are an estimate of the chance of loss and an estimate of the severity of a potential loss.
[03:53.69]Once a decision has been made to treat an exposure to loss with a given risk management tool,the decision must be implemented9.
[04:02.73]For example,if it has been decided10 to purchase insurance,
[04:06.88]arrangements must be made to acquire the proper amount of insurance at the best possible price accompanied by all the service needed or desired.
[04:16.39]Equally important,once the insurance is in force,
[04:20.36]the risk manager must be familiar with the terms of the contract so that none of the firm's actions cause the coverage11 to be suspended
[04:28.54]or the conditions of the contract to be breached13 in any way either before or after a loss occurs.
[04:35.17]If a loss prevention program is decided upon,the risk manager must see to it that all affected14 employees,
[04:43.19]know what the plan's aims are and what part they are expected to play in the program.
[04:48.47]The risk manager must remain alert to any advances in safety engineering that may make a given operation or plant or store a safer place in which to work.
[04:59.96]The insurance mechanism15
[05:02.18]One of the chief problems that risk management has had to overcome has been to differentiate16 itself from insurance,
[05:10.20]partly because of the insurance background of many of the pioneers in risk management thinking,
[05:15.77]and partly because risk-at least those varieties of it with which risk management is chiefly concerned-
[05:22.82]has for so long been considered the preserve of insurance alone.
[05:27.50]The confusion has been perpetuated17 because insurance retains such an important role as the main method of risk financing in a risk management programme.
[05:37.61]Risk management does not supersede18 insurance,but puts it in its proper perspective,
[05:43.30]as fulfilling a useful function determined19 after critical assessment20 of what it has to offer compared with other financing possibilities.
[05:52.52]To get the best out of any risk management programme,therefore,requires a knowledge of how the insurance mechanism works,
[06:00.52]and an appreciation21 of ways in which the insurance industry treats the risk passed on to it in return for the premium22 paid.
[06:09.35]For the purchaser,insurance provides a method of smoothing loss experience over a period of time,
[06:16.22]by exchanging the static risk which is insured for the smaller risk of the failure of the insurer to settle a claim when it is made,
[06:24.68]either through lack of funds or by some breach12 of the conditions of the insurance contract by the insured himself.
[06:32.25]Except for the small insured,or the catastrophic loss,it is unlikely that the cost of loss will be permanently23 transferred from the insured to the insurer;
[06:43.20]for the latter will seek to recover what he has paid out by increased premiums24 in subsequent years,
[06:49.94]or he may already have recovered it in previous years when the premiums paid have been greater than the amount needed to pay claims and meet the insurer's expenses.
[07:00.75]Where the market for a particular type of risk is not governed by rating agreements between insurers,
[07:07.05]it may be possible to defer25 or avoid repayment26 of the cost of loss by changing insurers,
[07:14.34]but in most cases this will be only a short-term solution,
[07:18.88]unless there has been some substantial improvement in loss control to improve the probable future cost of loss.
[07:26.67]A new insurer may offer a lower premium,taking the chance that the loss experience will improve,
[07:33.59]but if it does not,then the premium cost is likely to rise to,and perhaps beyond,its old level.
[07:41.19]The service of chronological27 loss spreading is,however,what the insured really needs,
[07:47.41]even if the total cost is not thereby28 reduced,for it enables him to reduce the annual cost of large losses to a size at which they can be borne in a single accounting29 year.
[07:58.98]From the insurer's point of view,the risk that is transferred to him has a different aspect.
[08:05.51]What was a static risk for the insured becomes a dynamic risk for the insurer,
[08:10.97]for in his hands it presents possibilities either of profit or of loss.
[08:16.54]The fact that a reinsurance market exists as a method of treating this risk is,
[08:21.84]however,a reminder30 that static risk and insurable risk are not synonymous terms.
[08:28.58]The methods the insurer uses to treat the risk he carries are themselves a good example of risk management in action.
[08:36.00]He seeks first of all to diminish his risk by ensuring that it is well spread.
[08:42.21]This is achieved in a number of ways.
[08:44.72]First,a good spread of risk is sought by endeavouring to ensure that the portfolio31 he is insuring consists of a large number of similar items.
[08:54.47]This will give the greatest play to the operation of the law of large numbers,and thus improve the predictability of the loss experience.
[09:02.90]Next,the insurer will wish these insurances to come from many different locations to provide the necessary geographical32 spread
[09:12.05]to minimise the chance of an abnormal loss experience due to a localised catastrophe33.


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1 implement WcdzG     
n.(pl.)工具,器具;vt.实行,实施,执行
参考例句:
  • Don't undertake a project unless you can implement it.不要承担一项计划,除非你能完成这项计划。
  • The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。
2 implementing be68540dfa000a0fb38be40d32259215     
v.实现( implement的现在分词 );执行;贯彻;使生效
参考例句:
  • -- Implementing a comprehensive drug control strategy. ――实行综合治理的禁毒战略。 来自汉英非文学 - 白皮书
  • He was in no hurry about implementing his unshakable principle. 他并不急于实行他那不可动摇的原则。 来自辞典例句
3 speculative uvjwd     
adj.思索性的,暝想性的,推理的
参考例句:
  • Much of our information is speculative.我们的许多信息是带推测性的。
  • The report is highly speculative and should be ignored.那个报道推测的成分很大,不应理会。
4 intervention e5sxZ     
n.介入,干涉,干预
参考例句:
  • The government's intervention in this dispute will not help.政府对这场争论的干预不会起作用。
  • Many people felt he would be hostile to the idea of foreign intervention.许多人觉得他会反对外来干预。
5 fluctuation OjaxE     
n.(物价的)波动,涨落;周期性变动;脉动
参考例句:
  • The erratic fluctuation of market prices are in consequence of unstable economy.经济波动致使市场物价忽起忽落。
  • Early and adequate drainage is essential if fluctuation occurs.有波动感时,应及早地充分引流。
6 dealing NvjzWP     
n.经商方法,待人态度
参考例句:
  • This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
  • His fair dealing earned our confidence.他的诚实的行为获得我们的信任。
7 uncertainty NlFwK     
n.易变,靠不住,不确知,不确定的事物
参考例句:
  • Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
  • After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后,压力开始产生影响了。
8 unlimited MKbzB     
adj.无限的,不受控制的,无条件的
参考例句:
  • They flew over the unlimited reaches of the Arctic.他们飞过了茫茫无边的北极上空。
  • There is no safety in unlimited technological hubris.在技术方面自以为是会很危险。
9 implemented a0211e5272f6fc75ac06e2d62558aff0     
v.实现( implement的过去式和过去分词 );执行;贯彻;使生效
参考例句:
  • This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
  • The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革,经济就面临崩溃的危险。 来自辞典例句
10 decided lvqzZd     
adj.决定了的,坚决的;明显的,明确的
参考例句:
  • This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
  • There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。
11 coverage nvwz7v     
n.报导,保险范围,保险额,范围,覆盖
参考例句:
  • There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
  • This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。
12 breach 2sgzw     
n.违反,不履行;破裂;vt.冲破,攻破
参考例句:
  • We won't have any breach of discipline.我们不允许任何破坏纪律的现象。
  • He was sued for breach of contract.他因不履行合同而被起诉。
13 breached e3498bf16767cf8f9f8dc58f7275a5a5     
攻破( breach的现在分词 ); 破坏,违反
参考例句:
  • These commitments have already been breached. 这些承诺已遭背弃。
  • Our tanks have breached the enemy defences. 我方坦克车突破了敌人的防线。
14 affected TzUzg0     
adj.不自然的,假装的
参考例句:
  • She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
  • His manners are affected.他的态度不自然。
15 mechanism zCWxr     
n.机械装置;机构,结构
参考例句:
  • The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
  • The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。
16 differentiate cm3yc     
vi.(between)区分;vt.区别;使不同
参考例句:
  • You can differentiate between the houses by the shape of their chimneys.你可以凭借烟囱形状的不同来区分这两幢房子。
  • He never learned to differentiate between good and evil.他从未学会分辨善恶。
17 perpetuated ca69e54073d3979488ad0a669192bc07     
vt.使永存(perpetuate的过去式与过去分词形式)
参考例句:
  • This system perpetuated itself for several centuries. 这一制度维持了几个世纪。
  • I never before saw smile caught like that, and perpetuated. 我从来没有看见过谁的笑容陷入这样的窘况,而且持续不变。 来自辞典例句
18 supersede zrXwz     
v.替代;充任
参考例句:
  • We must supersede old machines by new ones.我们必须以新机器取代旧机器。
  • The use of robots will someday supersede manual labor.机器人的使用有一天会取代人力。
19 determined duszmP     
adj.坚定的;有决心的
参考例句:
  • I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
  • He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。
20 assessment vO7yu     
n.评价;评估;对财产的估价,被估定的金额
参考例句:
  • This is a very perceptive assessment of the situation.这是一个对该情况的极富洞察力的评价。
  • What is your assessment of the situation?你对时局的看法如何?
21 appreciation Pv9zs     
n.评价;欣赏;感谢;领会,理解;价格上涨
参考例句:
  • I would like to express my appreciation and thanks to you all.我想对你们所有人表达我的感激和谢意。
  • I'll be sending them a donation in appreciation of their help.我将送给他们一笔捐款以感谢他们的帮助。
22 premium EPSxX     
n.加付款;赠品;adj.高级的;售价高的
参考例句:
  • You have to pay a premium for express delivery.寄快递你得付额外费用。
  • Fresh water was at a premium after the reservoir was contaminated.在水库被污染之后,清水便因稀而贵了。
23 permanently KluzuU     
adv.永恒地,永久地,固定不变地
参考例句:
  • The accident left him permanently scarred.那次事故给他留下了永久的伤疤。
  • The ship is now permanently moored on the Thames in London.该船现在永久地停泊在伦敦泰晤士河边。
24 premiums efa999cd01994787d84b066d2957eaa7     
n.费用( premium的名词复数 );保险费;额外费用;(商品定价、贷款利息等以外的)加价
参考例句:
  • He paid premiums on his life insurance last year. 他去年付了人寿保险费。 来自《现代英汉综合大词典》
  • Moves are afoot to increase car insurance premiums. 现正在酝酿提高汽车的保险费。 来自《简明英汉词典》
25 defer KnYzZ     
vt.推迟,拖延;vi.(to)遵从,听从,服从
参考例句:
  • We wish to defer our decision until next week.我们希望推迟到下星期再作出决定。
  • We will defer to whatever the committee decides.我们遵从委员会作出的任何决定。
26 repayment repayment     
n.偿还,偿还款;报酬
参考例句:
  • I am entitled to a repayment for the damaged goods.我有权利索取货物损坏赔偿金。
  • The tax authorities have been harrying her for repayment.税务局一直在催她补交税款。
27 chronological 8Ofzi     
adj.按年月顺序排列的,年代学的
参考例句:
  • The paintings are exhibited in chronological sequence.这些画是按创作的时间顺序展出的。
  • Give me the dates in chronological order.把日期按年月顺序给我。
28 thereby Sokwv     
adv.因此,从而
参考例句:
  • I have never been to that city,,ereby I don't know much about it.我从未去过那座城市,因此对它不怎么熟悉。
  • He became a British citizen,thereby gaining the right to vote.他成了英国公民,因而得到了投票权。
29 accounting nzSzsY     
n.会计,会计学,借贷对照表
参考例句:
  • A job fell vacant in the accounting department.财会部出现了一个空缺。
  • There's an accounting error in this entry.这笔账目里有差错。
30 reminder WkzzTb     
n.提醒物,纪念品;暗示,提示
参考例句:
  • I have had another reminder from the library.我又收到图书馆的催还单。
  • It always took a final reminder to get her to pay her share of the rent.总是得发给她一份最后催缴通知,她才付应该交的房租。
31 portfolio 9OzxZ     
n.公事包;文件夹;大臣及部长职位
参考例句:
  • He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
  • He resigned his portfolio.他辞去了大臣职务。
32 geographical Cgjxb     
adj.地理的;地区(性)的
参考例句:
  • The current survey will have a wider geographical spread.当前的调查将在更广泛的地域范围內进行。
  • These birds have a wide geographical distribution.这些鸟的地理分布很广。
33 catastrophe WXHzr     
n.大灾难,大祸
参考例句:
  • I owe it to you that I survived the catastrophe.亏得你我才大难不死。
  • This is a catastrophe beyond human control.这是一场人类无法控制的灾难。

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