Unit 15: ChinaInsuranceIndustry Financial English.

Unit 15:Unit 15:

China China

Insurance Insurance

Industry Industry

Financial EnglishFinancial English

Unit 15:Unit 15:

• Revision of Unit 14

• Background information of Unit 15

• Useful points of this unit

• Text

• ExercisesExercises

• AssignmentAssignment

Review of Unit 14Review of Unit 14

• Dictation

• Exercises

Revision of TextRevision of Text

DictationDictation

Dictation!Dictation!

You are going to hear 5 sentences. Each You are going to hear 5 sentences. Each

willwill

be read three times. Write down the sentences be read three times. Write down the sentences

according to what you hear.according to what you hear.

1.1. 2.2. 3.3. 4.4. 5.5.

Check-upCheck-upCheck-upCheck-up

Key to Dictation:Key to Dictation:

1.1. Insurance is a financial arrangement that redistributes Insurance is a financial arrangement that redistributes the costs of unexpected losses.the costs of unexpected losses.

2.2. For a given level of benefit, the premiums will be For a given level of benefit, the premiums will be determined by the risk.determined by the risk.

3.3. Life insurance pays a stated amount of money on the Life insurance pays a stated amount of money on the death of the insured individual.death of the insured individual.

4.4. When a policyholder shares a percentage of the losses When a policyholder shares a percentage of the losses along with the insurance company, their arrangement is along with the insurance company, their arrangement is called coinsurance.called coinsurance.

5.5. The principle of indemnity is one of the most important The principle of indemnity is one of the most important precepts for many types of insurance, particularly for precepts for many types of insurance, particularly for property insurance.property insurance.

DictationDictation

II. Fill in the blanks with proper words or phrases given below

Blanks fillingBlanks filling

incident occurrence coverage loss contract incident occurrence coverage loss contract

claim quote optional protect policyclaim quote optional protect policy

incident occurrence coverage loss contract incident occurrence coverage loss contract

claim quote optional protect policyclaim quote optional protect policy

Insurance is a financial topic of paramount importance Insurance is a financial topic of paramount importance

for every individual. Insurance is designed to ____for every individual. Insurance is designed to ____11____ the ____ the

financial well-being of you and your dependents in the case of financial well-being of you and your dependents in the case of

unexpected _____unexpected _____22___. Some forms of insurance are required ___. Some forms of insurance are required

by law, while others are ____by law, while others are ____33____. Agreeing to the terms of ____. Agreeing to the terms of

an insurance policy creates a ____an insurance policy creates a ____44____ between you and the ____ between you and the

insurance company. In exchange for payments from you (called insurance company. In exchange for payments from you (called

premiums), the insurance company agrees to pay you a sum of premiums), the insurance company agrees to pay you a sum of

money upon the ____money upon the ____55____ of a specific event. That event may ____ of a specific event. That event may

be as mundane as a visit to the doctor or as serious as a car crash, be as mundane as a visit to the doctor or as serious as a car crash,

depending on the type of insurance. depending on the type of insurance.

After contacting an insurance company about entering into After contacting an insurance company about entering into

a policy, you will receive a ____a policy, you will receive a ____66____, which is the total amount ____, which is the total amount

of money you will need to pay over the term of the insurance of money you will need to pay over the term of the insurance

policy in exchange for ____policy in exchange for ____77____. When you have agreed to pay ____. When you have agreed to pay

this amount and the insurance company has agreed to insure you, this amount and the insurance company has agreed to insure you,


you will receive a copy of the ____you will receive a copy of the ____88____ detailing the terms ____ detailing the terms

and conditions of your policy.and conditions of your policy.

If an insured incident occurs, you will make a claim for If an insured incident occurs, you will make a claim for

payment from the insurance company. You will receive the amount payment from the insurance company. You will receive the amount

you are insured for in the case of the specific ____you are insured for in the case of the specific ____99____ minus a ____ minus a

deductible that you must pay for each claim. Higher deductibles are deductible that you must pay for each claim. Higher deductibles are

associated with lower premiums and vice versa. Therefore, for associated with lower premiums and vice versa. Therefore, for

________1010____ that are likely to be made, it may be in your best ____ that are likely to be made, it may be in your best

interest to pay a higher premium in exchange for a lower deductible.interest to pay a higher premium in exchange for a lower deductible.


Check-upCheck-up

Insurance is a financial topic of paramount importance Insurance is a financial topic of paramount importance

for every individual. Insurance is designed tofor every individual. Insurance is designed to protectprotect the the

financial well-being of you and your dependents in the case of financial well-being of you and your dependents in the case of

unexpectedunexpected lossloss.. Some forms of insurance are required by law, Some forms of insurance are required by law,

while others are while others are optionaloptional.. Agreeing to the terms of an Agreeing to the terms of an

insurance policy creates a insurance policy creates a contractcontract between you and the between you and the

insurance company. In exchange for payments from you (called insurance company. In exchange for payments from you (called

premiums), the insurance company agrees to pay you a sum of premiums), the insurance company agrees to pay you a sum of

money upon the money upon the occurrenceoccurrence of a specific event. of a specific event.

Check-upCheck-up

Check-upCheck-up

That event may be as mundane as a visit to the doctor or as That event may be as mundane as a visit to the doctor or as

serious as a car crash, depending on the type of insurance. serious as a car crash, depending on the type of insurance.

After contacting an insurance company about entering After contacting an insurance company about entering

into a policy, you will receive a into a policy, you will receive a quotequote,, which is the total amount which is the total amount

of money you will need to pay over the term of the insurance of money you will need to pay over the term of the insurance

policy in exchange for policy in exchange for coveragecoverage.. When you have agreed to pay When you have agreed to pay

this amount and the insurance company has agreed to insure this amount and the insurance company has agreed to insure

you, you will receive a copy of the you, you will receive a copy of the policypolicy detailing the terms detailing the terms

and conditions of your policy.and conditions of your policy.

Check-upCheck-up

If an insured incident occurs, you will make a If an insured incident occurs, you will make a

claim for payment from the insurance company. You claim for payment from the insurance company. You

will receive the amount you are insured for in the case will receive the amount you are insured for in the case

of the specific of the specific incidentincident minus a deductible that you minus a deductible that you

must pay for each claim. Higher deductibles are must pay for each claim. Higher deductibles are

associated with lower premiums and vice versa. associated with lower premiums and vice versa.

Therefore, for Therefore, for claimsclaims that are likely to be made, it may that are likely to be made, it may

be in your best interest to pay a higher premium in be in your best interest to pay a higher premium in

exchange for a lower deductible.exchange for a lower deductible.

Text : Background InformationText : Background Information

本章从中国保险业的诞生谈起，追溯了中国保险业 140 余

年的发展史。本章按时间顺序，将中国保险业的发展分为 4

个时期：萌芽期、休眠期、复苏期、飞跃期。分别阐述了各

个阶段的特点及影响因素。此外，文中还评述了对中国保险

业影响较大的入世，金融危机等问题，并就中国保险业未来

的发展作了展望。

本章从中国保险业的诞生谈起，追溯了中国保险业 140 余

年的发展史。本章按时间顺序，将中国保险业的发展分为 4

个时期：萌芽期、休眠期、复苏期、飞跃期。分别阐述了各

个阶段的特点及影响因素。此外，文中还评述了对中国保险

业影响较大的入世，金融危机等问题，并就中国保险业未来

的发展作了展望。

Text : Useful points of this unitText : Useful points of this unit

本章重点 :

通过本章学习，学生应该掌握

1 、中国保险业的简要历史

2 、加入世贸组织对中国保险业的影响

3 、金融危机对中国保险业的影响

本章重点 :

通过本章学习，学生应该掌握

1 、中国保险业的简要历史

2 、加入世贸组织对中国保险业的影响

3 、金融危机对中国保险业的影响

Unit 15:Unit 15:

15.1 Brief History of China Insurance Industry15.1 Brief History of China Insurance Industry

BUD PERIOD (BEFORE 1949)

HIBERNATION PERIOD (1949-1976)

REVIVAL PERIOD (1978-2002)

STRIDING PERIOD (2002-2008)

WTO IMPACT

FINANCIAL CRISIS IMPACT

15.2 Outlooks-Golden Period of Development

ListeningListening

TextText

15.1 Brief History15.1 Brief HistoryBUD PERIOD (BEFORE 1949)BUD PERIOD (BEFORE 1949)

15.1 Brief History15.1 Brief HistoryBUD PERIOD (BEFORE 1949)BUD PERIOD (BEFORE 1949)

Listen carefully to the first part of the text and then Listen carefully to the first part of the text and then try to translate some sentences. try to translate some sentences.

15.1 Brief History15.1 Brief History

BUD PERIOD (BEFORE 1949) PERIOD (BEFORE 1949)

In 1805, British merchants opened "Canton Insurance In 1805, British merchants opened "Canton Insurance

Society" bringing the concept of "insurance" to China. Later, in Society" bringing the concept of "insurance" to China. Later, in

May 25th, 1865, "Yihe Insurance Company" was established by May 25th, 1865, "Yihe Insurance Company" was established by

Chinese merchants in Shanghai, symbolizing the birth of China's Chinese merchants in Shanghai, symbolizing the birth of China's

insurance industry. From then on many financial businesses as well insurance industry. From then on many financial businesses as well

as banks and merchants invested in the industry, and national as banks and merchants invested in the industry, and national

insurance industry grew rapidly. By 1948, there were 602 Chinese insurance industry grew rapidly. By 1948, there were 602 Chinese

insurance companies and branches in China. insurance companies and branches in China.

Text :Text :

End of part 1End of part 1

Before 1949, the golden time of China’s Insurance Industry Before 1949, the golden time of China’s Insurance Industry

was around 1930s to 1940s, when many insurance companies and was around 1930s to 1940s, when many insurance companies and

branches opened in Shanghai, the prosperity center of China. But branches opened in Shanghai, the prosperity center of China. But

as for competitiveness, China's insurance industry was controlled as for competitiveness, China's insurance industry was controlled

by foreign companies which occupied 80% of the premium by foreign companies which occupied 80% of the premium

revenues.revenues.

Text :Text :

Sentence TranslationSentence TranslationSentence TranslationSentence Translation

Text : Text : Key toKey to TranslationTranslation

解放前中国保险业发展的黄金期是在 20 世纪三十～四十年代。那时，多家保险公司和保险分支机构开在繁华的上海，使之成为全国保险中心。但是，由于竞争力差异悬殊，我国保险市场为外商所垄断，保费收入的80 ％为外商所有。

解放前中国保险业发展的黄金期是在 20 世纪三十～四十年代。那时，多家保险公司和保险分支机构开在繁华的上海，使之成为全国保险中心。但是，由于竞争力差异悬殊，我国保险市场为外商所垄断，保费收入的80 ％为外商所有。

budbud n. something small or immature n. something small or immature 未成熟的人或未成熟的人或事事

The trees are shooting out buds.The trees are shooting out buds.

那些树正在发芽。那些树正在发芽。

A child mechanic may be a future physicist in the bud.A child mechanic may be a future physicist in the bud.

一个喜欢玩工具的孩童也是一个正成长中的未来的物理学家。一个喜欢玩工具的孩童也是一个正成长中的未来的物理学家。

Text : Language PointsText : Language Points


prosperityprosperity n. the condition of prospering; success or wealth n. the condition of prospering; success or wealth

繁荣繁荣 , , 旺盛旺盛

We all long for a time of tranquilization and prosperity.

人人都向往太平盛世。

prosperityprosperity n. the condition of prospering; success or wealth n. the condition of prospering; success or wealth

繁荣繁荣 , , 旺盛旺盛

We all long for a time of tranquilization and prosperity.

人人都向往太平盛世。

ListeningListening

TextText


HIBERNATION PERIOD (1949-1976)HIBERNATION PERIOD (1949-1976)


HIBERNATION PERIOD (1949-1976)HIBERNATION PERIOD (1949-1976)

Listen carefully to the second part of the text and Listen carefully to the second part of the text and then try to understand it. then try to understand it.

HIBERNATION PERIOD (1949-1976) PERIOD (1949-1976)

Most large foreign insurers left china entirely after 1949, Most large foreign insurers left china entirely after 1949,

though some retreated to Hong Kong; and the state-owned though some retreated to Hong Kong; and the state-owned

People's Insurance Company of China (now known as PICC) People's Insurance Company of China (now known as PICC)

was founded. From 1949 to 1976, the insurance industry in was founded. From 1949 to 1976, the insurance industry in

China essentially ceased to exist. Few Chinese owned personal China essentially ceased to exist. Few Chinese owned personal

property, and almost all business enterprises were government-property, and almost all business enterprises were government-

owned and "self-insured" by PICC.owned and "self-insured" by PICC.

Text :Text :


hibernationhibernation n. the act of retiring into inactivity n. the act of retiring into inactivity 冬眠，冬眠，不活跃不活跃

Some animals can overwinter without the hibernation.Some animals can overwinter without the hibernation.

有些动物不需要冬眠也能过冬。有些动物不需要冬眠也能过冬。


ListeningListening

TextText


REVIVAL PERIOD (1978-2002)REVIVAL PERIOD (1978-2002)


REVIVAL PERIOD (1978-2002)REVIVAL PERIOD (1978-2002)

Listen carefully to the third part of the text and Listen carefully to the third part of the text and then try to translate some sentences. then try to translate some sentences.

REVIVAL PERIOD (1978-2002) PERIOD (1978-2002)

In 1978, as part of the economic reforms and opening up In 1978, as part of the economic reforms and opening up

policies initiated by Mr. Deng Xiaoping China insurance industry policies initiated by Mr. Deng Xiaoping China insurance industry

began to resume through the reestablishment of the People's began to resume through the reestablishment of the People's

Insurance Company of China (PICC). PICC had Insurance Company of China (PICC). PICC had monopoly position position

in China's emerging insurance market until 1988 when the Bank of in China's emerging insurance market until 1988 when the Bank of

Communication established Insurance Department, which later was Communication established Insurance Department, which later was

renamed as China Pacific Insurance Company. renamed as China Pacific Insurance Company.

Text :Text :

Also in that year, Ping An Insurance Company was founded in Also in that year, Ping An Insurance Company was founded in

Shenzhen to serve local economy, and became national wide. The Shenzhen to serve local economy, and became national wide. The

two newly born companies together with PICC formed a two newly born companies together with PICC formed a troika, ,

spurring China insurance industry into rapid growth. spurring China insurance industry into rapid growth.

Economic reforms led foreign enterprises to play a role in the Economic reforms led foreign enterprises to play a role in the

revival of China's insurance industry beginning in 1992. In revival of China's insurance industry beginning in 1992. In

September 1992, the People's Bank of China granted AIG September 1992, the People's Bank of China granted AIG

(American Insurance Group of United States) a permit to begin (American Insurance Group of United States) a permit to begin

selling individual life and property insurance in Shanghai. selling individual life and property insurance in Shanghai.

Text :Text :

From 1992 to 2000, China gradually approved the re-entry of 16From 1992 to 2000, China gradually approved the re-entry of 16

additional leading foreign insurers. The economic reform in Chinaadditional leading foreign insurers. The economic reform in China

has increased the foreign participation in China insurance industry.has increased the foreign participation in China insurance industry.

Text :Text :

Sentence TranslationSentence TranslationSentence TranslationSentence Translation

INSURANCE LAW OF THE PEOPLE’S REPUBLIC OFINSURANCE LAW OF THE PEOPLE’S REPUBLIC OF

CHINA was adopted at the 14th meeting of the StandingCHINA was adopted at the 14th meeting of the Standing

Committee of the Eighth National People’s Congress on June Committee of the Eighth National People’s Congress on June

30, 1995 and came into effect as of October 1, 1995.30, 1995 and came into effect as of October 1, 1995.

INSURANCE LAW OF THE PEOPLE’S REPUBLIC OFINSURANCE LAW OF THE PEOPLE’S REPUBLIC OF

CHINA was adopted at the 14th meeting of the StandingCHINA was adopted at the 14th meeting of the Standing

Committee of the Eighth National People’s Congress on June Committee of the Eighth National People’s Congress on June

30, 1995 and came into effect as of October 1, 1995.30, 1995 and came into effect as of October 1, 1995.

In November 1998, the State Council devolved supervision In November 1998, the State Council devolved supervision

functions from the People's Bank of China to the newly established functions from the People's Bank of China to the newly established

China Insurance Regulatory Commission (CIRC). China Insurance Regulatory Commission (CIRC).

Since then the development of China insurance industry Since then the development of China insurance industry

became standardized and observed by laws. For more than two became standardized and observed by laws. For more than two

decades the coverage had been widened to various fields of decades the coverage had been widened to various fields of

economic and social life and the insurance types enriched from the economic and social life and the insurance types enriched from the

only one of property insurance in 1980 to life insurance, casualtyonly one of property insurance in 1980 to life insurance, casualty

insurance, health insurance, auto insurance, home insurance etc.insurance, health insurance, auto insurance, home insurance etc.

Text :Text :



1995年 6月 30 日第八届全国人民代表大会第 14 次常务会议审议通过《中华人民共和国保险法》并于 1995

年 10月 1 日，颁布实施。

1995年 6月 30 日第八届全国人民代表大会第 14 次常务会议审议通过《中华人民共和国保险法》并于 1995

年 10月 1 日，颁布实施。

revival n. an instance of returning to life or

consciousness; restoration of vigour or vitality 苏醒，复苏

a revival of trade 贸易的振兴

business revival 经济复苏

the Revival of Learning [Letters, Literature](=the Renaissance)

【史】文艺复兴


monopoly n. exclusive control of the market supply of a

product or service 垄断

It's time to eliminate Internet monopoly.

该到了消除网络独裁的时候了。

monopoly n. exclusive control of the market supply of a

product or service 垄断

It's time to eliminate Internet monopoly.

该到了消除网络独裁的时候了。

troikatroika n. three horses harnessed abreast； a triumvirate 三驾马车；紧密结合在一起的三个人 ; 三巨头 , 三人执政

Suddenly a troika drove up with tinkling bells.

忽然一辆三驾马车响着铃声奔驰而来。



casualty n. anything that is lost, damaged, or destroyed as

the result of an accident, etc. 严重的意外 , 事故 , 横祸 , 灾难

No casualties were reported thus far.

至今为止还没有接到死伤的报告。

The collapse of the building caused no casualties.

建筑倒塌没有造成伤亡。

State Council (中国 ) 国务院

ListeningListening

TextText


STRIDING PERIOD (2002-2008)STRIDING PERIOD (2002-2008)


STRIDING PERIOD (2002-2008)STRIDING PERIOD (2002-2008)

Listen carefully to the fourth part of the text and Listen carefully to the fourth part of the text and then try to translate some sentences. then try to translate some sentences.

STRIDING PERIOD (2002-2008) PERIOD (2002-2008)

Although the annual developing rate was so high, China Although the annual developing rate was so high, China insurance industry was still a small part of the entire economy and insurance industry was still a small part of the entire economy and at a low level. Compared with 11 percent in Japan and 8 percent in at a low level. Compared with 11 percent in Japan and 8 percent in the United States, the insurance industry only represented less than the United States, the insurance industry only represented less than 2 percent of China’s GDP. It was no wonder that global insurance 2 percent of China’s GDP. It was no wonder that global insurance companies would look to China as an opportunity for their industry companies would look to China as an opportunity for their industry growth over the next several years.growth over the next several years.

In order to protect domestic insurance industry, laws and regulations wereIn order to protect domestic insurance industry, laws and regulations were

formulated to govern foreign insurance companies in China.d to govern foreign insurance companies in China.

Text :Text :

Sentence TranslationSentence Translation

Foreign insurance companies that apply for establishment ofForeign insurance companies that apply for establishment of

foreign-invested insurance organizations in China should meet theforeign-invested insurance organizations in China should meet the

following requirements:following requirements:

- Over 30 years of insurance business operation;- Over 30 years of insurance business operation;

- Total assets exceeding - Total assets exceeding US$5 billion at the end of the year at the end of the year prior to the the

application; application;

-Has had a representative office in China for at least 2 years.Has had a representative office in China for at least 2 years.

- The minimum registered capital required for a - The minimum registered capital required for a Joint-venture insurance company insurance company isis

not less than US$20 million for life insurance business;not less than US$20 million for life insurance business;

not less than US$20 million for non-life insurance business.not less than US$20 million for non-life insurance business.

Text :Text :

- 20% of the actual paid-up capital of a joint venture (JV) insurance - 20% of the actual paid-up capital of a joint venture (JV) insurance

company should be set aside as company should be set aside as guarantee funds;;

-Foreign insurers setting up wholly owned branches in China need to Foreign insurers setting up wholly owned branches in China need to

deposit US$4 million with the government as required by the China deposit US$4 million with the government as required by the China

Insurance Regulatory Commission (CIRC) as guarantee funds for Insurance Regulatory Commission (CIRC) as guarantee funds for

either property insurance or life insurance operations.either property insurance or life insurance operations.

Stimulated by the 22 years rapid development and with fear of the d by the 22 years rapid development and with fear of the

incoming uncertainty, China insurance industry had successfully incoming uncertainty, China insurance industry had successfully

revived, and left more room to further development.revived, and left more room to further development.

Text :Text :



尽管保险业的年增长速率惊人，但是其人处于发展的初级阶段而且保险业在整个国民经济中所占比例仍旧较低，只有不足 2% ，远远低于日本的 11% 和美国的 8% 。这也就难怪国际保险业巨头纷纷将中国视为在未来几年内拉动其业务增长的动力。

尽管保险业的年增长速率惊人，但是其人处于发展的初级阶段而且保险业在整个国民经济中所占比例仍旧较低，只有不足 2% ，远远低于日本的 11% 和美国的 8% 。这也就难怪国际保险业巨头纷纷将中国视为在未来几年内拉动其业务增长的动力。

I. NumbersI. Numbers

Read these numbers correctly, and try to rewrite it Read these numbers correctly, and try to rewrite it

According to the following examples.According to the following examples.

Example: Example: RMB 640 million = 640, 000, 000.00 RMB

US$ 77.4 millionUS$ 77.4 million

RMB305 billion RMB305 billion

US$ 37.2 billionUS$ 37.2 billion

RMB1 trillion RMB1 trillion

US$120 billionUS$120 billion

Exercise :Exercise :


注：所有数字是根据美制计数表示的注：所有数字是根据美制计数表示的

1 million1 million = 1,000,000= 1,000,000 百万百万

1 billion1 billion = 1,000,000,000= 1,000,000,000 十亿十亿

1 trillion1 trillion = 1,000,000,000,000= 1,000,000,000,000 万亿万亿

Note of Exercise :Note of Exercise :

US$ 77.4 million = US$ 77, 400, 000.00US$ 77.4 million = US$ 77, 400, 000.00

RMB 305 billion = 640, 000, 000.00 RMBRMB 305 billion = 640, 000, 000.00 RMB

US$ 37.2 billion = US$ 37, 200, 000, 000.00US$ 37.2 billion = US$ 37, 200, 000, 000.00

RMB 1 trillion = 640, 000, 000.00 RMBRMB 1 trillion = 640, 000, 000.00 RMB

US$ 120 billion = US$ 120, 000, 000, 000.00US$ 120 billion = US$ 120, 000, 000, 000.00

Key to Exercise :Key to Exercise :

stridestride vt. to walk with long regular or measured paces, as vt. to walk with long regular or measured paces, as

in haste, etc in haste, etc 大踏步走过大踏步走过

The athletes go with vigorous strides.The athletes go with vigorous strides.

运动员迈着矫健的步伐。运动员迈着矫健的步伐。

He walked with a stride full of purpose.He walked with a stride full of purpose.

他迈着坚定的步伐向前走。他迈着坚定的步伐向前走。


formulateformulate vt. to put into or express in systematic termsvt. to put into or express in systematic terms

制订；对制订；对 ...... 作简洁陈述作简洁陈述 , , 有系统地表有系统地表达达

formulateformulate vt. to put into or express in systematic termsvt. to put into or express in systematic terms

制订；对制订；对 ...... 作简洁陈述作简洁陈述 , , 有系统地表有系统地表达达

prior toprior to 在前在前 ,, 居先居先

This task is prior to all others.This task is prior to all others.

这项任务比所有其他任务都重要。这项任务比所有其他任务都重要。

The contract will Be signed prior to the ceremony.The contract will Be signed prior to the ceremony.

合同将在仪式举行之前签字。合同将在仪式举行之前签字。

My appointment to the post was prior to yours.My appointment to the post was prior to yours.

我被任命该职较你为早。我被任命该职较你为早。


joint venturejoint venture 合资企业合资企业joint venturejoint venture 合资企业合资企业

guarantee fundguarantee fund 保证基金保证基金


stimulatestimulate vt. cause to be alert and energetic vt. cause to be alert and energetic 刺激刺激 , ,

激励激励 , , 鼓舞鼓舞

The exhibition stimulated interest in the artist's work.The exhibition stimulated interest in the artist's work.

这次展览引起人们对这位艺术家的作品的兴趣。这次展览引起人们对这位艺术家的作品的兴趣。

Alcohol stimulates the action of the heart.Alcohol stimulates the action of the heart.

酒刺激心脏的活动。酒刺激心脏的活动。

It's hard work. but stimulating.It's hard work. but stimulating.

工作很辛苦但令人发奋。工作很辛苦但令人发奋。

stimulatestimulate vt. cause to be alert and energetic vt. cause to be alert and energetic 刺激刺激 , ,

激励激励 , , 鼓舞鼓舞

The exhibition stimulated interest in the artist's work.The exhibition stimulated interest in the artist's work.

这次展览引起人们对这位艺术家的作品的兴趣。这次展览引起人们对这位艺术家的作品的兴趣。

Alcohol stimulates the action of the heart.Alcohol stimulates the action of the heart.

酒刺激心脏的活动。酒刺激心脏的活动。

It's hard work. but stimulating.It's hard work. but stimulating.

工作很辛苦但令人发奋。工作很辛苦但令人发奋。

ListeningListening

TextText


WTO IMPACTWTO IMPACT



Listen carefully to the fifth part of the text and then Listen carefully to the fifth part of the text and then try to translate some sentences. try to translate some sentences.


On November 10th, 2001, WTO On November 10th, 2001, WTO Ministerial Conference approved China's Conference approved China's accession. The insurance industry was being opened up to the outside world . The insurance industry was being opened up to the outside world according to schedule. According to China's WTO commitment, all according to schedule. According to China's WTO commitment, all geographical restrictions on overseas-funded insurance companies would be lifted before restrictions on overseas-funded insurance companies would be lifted before December 2004. December 2004.

China’s accession to WTO offered more opportunities than challenges. China’s accession to WTO offered more opportunities than challenges. On On one hand, an one hand, an inevitable increase in capital flowed into China. This will provide increase in capital flowed into China. This will provide higher levels of human resources and technological capital that will serve to higher levels of human resources and technological capital that will serve to further develop the national economy and trade relations with the rest of the further develop the national economy and trade relations with the rest of the world. The sheer capacity and vigor of the Chinese economy will provide world. The sheer capacity and vigor of the Chinese economy will provide extensive possibilities for investment and expansion which can greatly help the extensive possibilities for investment and expansion which can greatly help the

insurance industry.insurance industry.

Text :Text :


On the other hand, it compelled the domestic insurers to face more and On the other hand, it compelled the domestic insurers to face more and more foreign more foreign counterparts. With competition, the domestic insurers began to . With competition, the domestic insurers began to reflect on their own problems.reflect on their own problems.

Most life insurance companies in the country had to Most life insurance companies in the country had to pay out obligations that obligations that were significantly greater than their current return on investments, and were significantly greater than their current return on investments, and shortages of shortages of actuaries and professional insurance management staff had and professional insurance management staff had contributed to poor business practices by insurance companies. Internally contributed to poor business practices by insurance companies. Internally there were necessities to be restructuring of management systems, there were necessities to be restructuring of management systems, establishment of property rights, altering the legal structure and perhaps even establishment of property rights, altering the legal structure and perhaps even being open to the possibility of a joint venture with a foreign firm or inviting being open to the possibility of a joint venture with a foreign firm or inviting foreign firms to become foreign firms to become stockholders. This would help to promote . This would help to promote competition by raising additional capital, shift towards more effective and competition by raising additional capital, shift towards more effective and efficient management styles, and lead developing insurance services to be efficient management styles, and lead developing insurance services to be more in line with the needs of the market. more in line with the needs of the market.

Text :Text :


The domestic industry was restructured to build strength for the coming The domestic industry was restructured to build strength for the coming competition before 2005. Some of the steps taken were as follows:competition before 2005. Some of the steps taken were as follows:

*More domestic insurance companies were established and existing domestic *More domestic insurance companies were established and existing domestic insurance companies were permitted to operate in more cities;insurance companies were permitted to operate in more cities;

**Alliances were set up between domestic insurance companies and Chinese were set up between domestic insurance companies and Chinese banks, starting with the largest insurance company, China Property Insurance banks, starting with the largest insurance company, China Property Insurance Co, and the largest domestic state-owned bank, Industrial and Commercial Co, and the largest domestic state-owned bank, Industrial and Commercial Bank of China. Together they provide both insurance and other financial Bank of China. Together they provide both insurance and other financial services to their customers. United States-based Prudential Insurance Inc. has services to their customers. United States-based Prudential Insurance Inc. has teamed up with Everbright to form a joint fund management company;teamed up with Everbright to form a joint fund management company;

*Training programs were provided to better permit Chinese insurance *Training programs were provided to better permit Chinese insurance companies to compete with foreigners, to provide additional capable companies to compete with foreigners, to provide additional capable personnel for the insurance sector, and to hire foreign insurance professional personnel for the insurance sector, and to hire foreign insurance professional as advisers.as advisers.

Text :Text :

Meanwhile changes could also be found in the governments and officials. In Meanwhile changes could also be found in the governments and officials. In accordance with WTO regulations the China Insurance Regulatory accordance with WTO regulations the China Insurance Regulatory Commission had updated its regulatory rules, which stands for an Commission had updated its regulatory rules, which stands for an improvement in the transparency of management and increase in work improvement in the transparency of management and increase in work efficiency so that they would be more in line with international standards.efficiency so that they would be more in line with international standards.

China insurance began to stride from 2004. By Dec. 15th 2007, 8 insurance China insurance began to stride from 2004. By Dec. 15th 2007, 8 insurance groups and 105 insurance companies (including 62 Chinese companies, 43 groups and 105 insurance companies (including 62 Chinese companies, 43 foreign companies, and 2300 insurance agencies) have come into being in foreign companies, and 2300 insurance agencies) have come into being in China. Basically, a complete insurance market system with reasonable China. Basically, a complete insurance market system with reasonable assignment and fair competition and mutual development has formed. assignment and fair competition and mutual development has formed. Insurance companies in China now attached great importance to new Insurance companies in China now attached great importance to new products, to provide consumers with a high-quality service. China is products, to provide consumers with a high-quality service. China is expected to soon approve an amendment to its insurance law, which expected to soon approve an amendment to its insurance law, which detailed new regulations on many aspects of the industry such as insurance detailed new regulations on many aspects of the industry such as insurance management, risk prevention, insurance supervision and consumer interests.management, risk prevention, insurance supervision and consumer interests.

Text :Text :



一方面，大量资金涌入中国市场，将为中国经济发展和对外贸易提供更好的人力资本和技术支持。中国经济发展的潜力和动力势必带动保险业的发展，为其投资和业务拓展提供助力

一方面，大量资金涌入中国市场，将为中国经济发展和对外贸易提供更好的人力资本和技术支持。中国经济发展的潜力和动力势必带动保险业的发展，为其投资和业务拓展提供助力


另一方面，国内保险公司不得不面对海外对手的挑战。在竞争中，他们开始正视自身存在的各种弊端。

另一方面，国内保险公司不得不面对海外对手的挑战。在竞争中，他们开始正视自身存在的各种弊端。

ministerialministerial adj. of or relating to a government minister adj. of or relating to a government minister or ministry or ministry 部长级的部长级的


accessionaccession n. n. a process of increasing by addition a process of increasing by addition

(as to a collection or group) (as to a collection or group) 增加（成为某组织一增加（成为某组织一员）员）

The librarian had these new books promptly accessioned.The librarian had these new books promptly accessioned.

图书馆员迅速地把这些新书登记于图书目录。图书馆员迅速地把这些新书登记于图书目录。

accessionaccession n. n. a process of increasing by addition a process of increasing by addition

(as to a collection or group) (as to a collection or group) 增加（成为某组织一增加（成为某组织一员）员）

The librarian had these new books promptly accessioned.The librarian had these new books promptly accessioned.

图书馆员迅速地把这些新书登记于图书目录。图书馆员迅速地把这些新书登记于图书目录。geographical adj. determined by geography 地理的

geographical adj. determined by geography 地理的inevitable adj. incapable of being avoided or prevented; invariably occurring or appearing 不可避免的 , 无法回避的 ; 照例必有的

inevitable adj. incapable of being avoided or prevented; invariably occurring or appearing 不可避免的 , 无法回避的 ; 照例必有的

counterpartcounterpart n. a person or thing having the same n. a person or thing having the same function or characteristics as another function or characteristics as another 相对物，对手，对相对物，对手，对方方


pay outpay out 支出支出 , , 花费花费

We're paying out 300 a month on our mortgage.We're paying out 300 a month on our mortgage.

我们每月要付我们每月要付 300300 英镑抵押贷款英镑抵押贷款 ..

pay outpay out 支出支出 , , 花费花费

We're paying out 300 a month on our mortgage.We're paying out 300 a month on our mortgage.

我们每月要付我们每月要付 300300 英镑抵押贷款英镑抵押贷款 ..actuary n. someone versed in the collection and

interpretation of numerical data (especially someone who uses statistics to calculate insurance premiums)

保险统计师

actuary n. someone versed in the collection and interpretation of numerical data (especially someone who uses statistics to calculate insurance premiums)

保险统计师stockholder n. someone who holds shares of stock in

a corporation 股东stockholder n. someone who holds shares of stock in

a corporation 股东

alliancealliance n. the state of being allied or n. the state of being allied or

confederatedconfederated ；； a formal agreement establishing an a formal agreement establishing an

association or alliance between nations or other groups to association or alliance between nations or other groups to

achieve a particular aim achieve a particular aim 联盟，结盟，盟约联盟，结盟，盟约

They teamed together in a defensive alliance.They teamed together in a defensive alliance.

他们结成了防御同盟。他们结成了防御同盟。

They made an alliance against the common enemy.They made an alliance against the common enemy.

他们联合起来抵御共同敌人。他们联合起来抵御共同敌人。


ListeningListening

TextText


FINANCIAL CRISIS IMPACTFINANCIAL CRISIS IMPACT



Listen carefully to the sixth part of the text and Listen carefully to the sixth part of the text and then try to understand it. then try to understand it.


As banks, investment banks, funds and insurance As banks, investment banks, funds and insurance

companies form financial fund chains in the United States. companies form financial fund chains in the United States.

The three United States financial giants, Lehman Brothers The three United States financial giants, Lehman Brothers

Holdings, American International Group, and Merrill Lynch, Holdings, American International Group, and Merrill Lynch,

that have failed amid the turmoil, which marks the death of that have failed amid the turmoil, which marks the death of

Wall Street and affects the whole world so greatly that the Wall Street and affects the whole world so greatly that the

insurance industry may be the next victim of the crisis.insurance industry may be the next victim of the crisis.

Text :Text :

As China has not lifted its As China has not lifted its curb on investments in overseas on investments in overseas

financial derivative markets, its insurance industry is not financial derivative markets, its insurance industry is not

fully exposed to the impacts of the ongoing financial risks, fully exposed to the impacts of the ongoing financial risks,

but the subprime crisis has rung an alarm bell for China but the subprime crisis has rung an alarm bell for China

insurance companies. To survive the difficulties, China's insurance companies. To survive the difficulties, China's

insurance industry should play its role of assurance and insurance industry should play its role of assurance and

focus on guarantee instead of investment. Meanwhile, focus on guarantee instead of investment. Meanwhile,

despite possible risks ahead, insurers should not fully close despite possible risks ahead, insurers should not fully close

up, but continue their opening up.up, but continue their opening up.

Text :Text :



curb curb n. something that restrains or holds back n. something that restrains or holds back

抑制抑制 ,,勒马绳勒马绳

We should not curb violence with violence.We should not curb violence with violence.

我们不能以暴制暴。我们不能以暴制暴。

There is a need for a curb on downloading papers.There is a need for a curb on downloading papers.

有必要抑制下载论文的势头。有必要抑制下载论文的势头。

curb curb n. something that restrains or holds back n. something that restrains or holds back

抑制抑制 ,,勒马绳勒马绳

We should not curb violence with violence.We should not curb violence with violence.

我们不能以暴制暴。我们不能以暴制暴。

There is a need for a curb on downloading papers.There is a need for a curb on downloading papers.

有必要抑制下载论文的势头。有必要抑制下载论文的势头。

ListeningListening

TextText

15.2 Outlooks-Golden Period of 15.2 Outlooks-Golden Period of DevelopmentDevelopment

15.2 Outlooks-Golden Period of 15.2 Outlooks-Golden Period of DevelopmentDevelopment

Listen carefully to the seventh part of the text and Listen carefully to the seventh part of the text and then try to translate some sentences. then try to translate some sentences.

15.2 Outlooks-Golden Period of Development15.2 Outlooks-Golden Period of Development

Despite of the crisis, China Insurance Industry is very likely to have a bright Despite of the crisis, China Insurance Industry is very likely to have a bright

future. future.

Firstly, widely regarded as one of the most Firstly, widely regarded as one of the most disaster-prone countries in the countries in the

world, China has suffered from the world, China has suffered from the ravages of nature including earthquakes, of nature including earthquakes,

floods and typhoons, and some US$17 million is being caused in losses every floods and typhoons, and some US$17 million is being caused in losses every

day.day. As for the severe snow and ice which As for the severe snow and ice which cast a cold spell on China in January China in January

and February 2008 or the and February 2008 or the devastating earthquake which hit China’s Sichuan earthquake which hit China’s Sichuan

Province in May, huge amount of money has been paid by the government to the Province in May, huge amount of money has been paid by the government to the

rescue and rebuild project. However, natural-disaster coverage rates are very low rescue and rebuild project. However, natural-disaster coverage rates are very low

in China, in the single in China, in the single digit. .

Text :Text :


Just 5 percent of the more than US$20 billion of damage from the Just 5 percent of the more than US$20 billion of damage from the quake in Sichuan province is covered by insurance, according to estimates quake in Sichuan province is covered by insurance, according to estimates from an official at the China Insurance Regulatory Commission. By from an official at the China Insurance Regulatory Commission. By contrast, about half of the US$120 billion of estimated costs from contrast, about half of the US$120 billion of estimated costs from Hurricane Katrina, the most expensive storm in U.S. history, was insured Hurricane Katrina, the most expensive storm in U.S. history, was insured by companies or the federal government, according to data compiled by by companies or the federal government, according to data compiled by analysts at Property Claim Services. Developing rural and natural-disaster analysts at Property Claim Services. Developing rural and natural-disaster insurance is a top priority for the Chinese government, and there's even insurance is a top priority for the Chinese government, and there's even greater greater momentum now, according to the industry regulator in Beijing. now, according to the industry regulator in Beijing. China may soon set up a natural-disaster insurance system, which would China may soon set up a natural-disaster insurance system, which would bebe subsidized by the government and would include private-sector by the government and would include private-sector involvement.involvement.

Secondly, artificial accidents occur frequently. News about air crash, mine Secondly, artificial accidents occur frequently. News about air crash, mine disaster, gas explosion or fire break-out is often heard from various media.disaster, gas explosion or fire break-out is often heard from various media.

Text :Text :

Thirdly, the graying senior citizens call for more care, and produce more Thirdly, the graying senior citizens call for more care, and produce more requirements from Social Security or National Health Insurance systems.requirements from Social Security or National Health Insurance systems.

What’s more, along with rapid economic and social development, China's What’s more, along with rapid economic and social development, China's consumption structure has changed remarkably in recent years. Chinese consumption structure has changed remarkably in recent years. Chinese people now spend less on basic daily necessities and more on traveling, IT people now spend less on basic daily necessities and more on traveling, IT products, housing, entertainment and education. In traditional Chinese products, housing, entertainment and education. In traditional Chinese way of saying, one should never spend all his money for unexpected way of saying, one should never spend all his money for unexpected tomorrow using. However, this tenet is no longer being as a right sentence tomorrow using. However, this tenet is no longer being as a right sentence in the modern society. Especially to the young generation, insurance is in the modern society. Especially to the young generation, insurance is becoming the most precious asset that a person can have invested in his becoming the most precious asset that a person can have invested in his own life, especially if he is the bread-winner on whom his family depends. own life, especially if he is the bread-winner on whom his family depends. Since death is inevitable, and sometimes unexpected misfortunes might Since death is inevitable, and sometimes unexpected misfortunes might occur to cripple or even kill the person early, he can provide a financial occur to cripple or even kill the person early, he can provide a financial cushion to himself and his family by effecting a life Insurance.cushion to himself and his family by effecting a life Insurance.

Text :Text :


首先，我国是一个自然灾害多发的国家。地震、台风、洪水等首先，我国是一个自然灾害多发的国家。地震、台风、洪水等多种自然灾害频频造访，日均损失高达多种自然灾害频频造访，日均损失高达 1717，， 000000，， 000000 美金。美金。

Key to Translation :Key to Translation :

disaster-pronedisaster-prone 灾难多发的灾难多发的

prone prone a. a. 倾斜的倾斜的 ,,有有……倾向的倾向的 ,, 易于易于……的的

John is prone to butting in, that is to say, he is a meddler.John is prone to butting in, that is to say, he is a meddler.

约翰是个喜欢插手别人的事的人约翰是个喜欢插手别人的事的人 ;; 约翰是个爱管闲事的人。约翰是个爱管闲事的人。

The child is rather accident-prone.The child is rather accident-prone.

那个小孩很容易出事儿那个小孩很容易出事儿 ..


ravageravage n. (usually plural) a destructive n. (usually plural) a destructive

action action 破坏破坏 ,,蹂躏蹂躏

the ravages of war the ravages of war 战争创伤战争创伤

ravageravage n. (usually plural) a destructive n. (usually plural) a destructive

action action 破坏破坏 ,,蹂躏蹂躏

the ravages of war the ravages of war 战争创伤战争创伤

cast a spell oncast a spell on … … 向施巫术，对施咒语；盅… … 向施巫术，对施咒语；盅惑惑

The heartless witch cast a spell on the poor little girl.The heartless witch cast a spell on the poor little girl.

狠心的女巫对孤苦无助的小女孩施发妖术。狠心的女巫对孤苦无助的小女孩施发妖术。


devastating devastating adj. wreaking or capable of adj. wreaking or capable of wreaking complete destruction wreaking complete destruction 破坏性的破坏性的

Nearly 15,000 died in this devastating earthquake. Nearly 15,000 died in this devastating earthquake.

近近 1515，， 000000 人死于这次破坏性地震。人死于这次破坏性地震。

devastating devastating adj. wreaking or capable of adj. wreaking or capable of wreaking complete destruction wreaking complete destruction 破坏性的破坏性的

Nearly 15,000 died in this devastating earthquake. Nearly 15,000 died in this devastating earthquake.

近近 1515，， 000000 人死于这次破坏性地震。人死于这次破坏性地震。

digitdigit n. figure any of the ten Arabic numerals from n. figure any of the ten Arabic numerals from 0 to 9 0 to 9 阿拉伯数字阿拉伯数字 0~90~9之一之一

digitdigit n. figure any of the ten Arabic numerals from n. figure any of the ten Arabic numerals from 0 to 9 0 to 9 阿拉伯数字阿拉伯数字 0~90~9之一之一

momentum momentum n. driving power or strength n. driving power or strength 动力动力A falling Object gains momentum as it falls.A falling Object gains momentum as it falls.

下落的物体落下时动量增加。下落的物体落下时动量增加。

The tremendous momentum of the Yellow River is inspiring.The tremendous momentum of the Yellow River is inspiring.

黄河的磅礴气势使人振奋。黄河的磅礴气势使人振奋。


subsidizesubsidize vt. to obtain the aid of by means of a subsidy vt. to obtain the aid of by means of a subsidy

补助补助 , , 资助资助Farming is partly subsidized by the government.Farming is partly subsidized by the government.

农业部分受政府补贴。农业部分受政府补贴。

subsidizesubsidize vt. to obtain the aid of by means of a subsidy vt. to obtain the aid of by means of a subsidy

补助补助 , , 资助资助Farming is partly subsidized by the government.Farming is partly subsidized by the government.

农业部分受政府补贴。农业部分受政府补贴。


tenettenet n. An opinion, doctrine, or principle

held as being true by a person or especially by an

organization.宗旨：一个人尤指一个组织所坚信的信念、理念或原则

basic tenetsbasic tenets

基本原则

tenettenet n. An opinion, doctrine, or principle

held as being true by a person or especially by an

organization.宗旨：一个人尤指一个组织所坚信的信念、理念或原则

basic tenetsbasic tenets

基本原则

Exercises of Unit 15Exercises of Unit 15

• True or False

• Case Analysis

• Discussion

Exercises of this UnitExercises of this Unit

True or FalseTrue or False

1. PICC was the first insurance company in China. ( )1. PICC was the first insurance company in China. ( )

2. AIG was the first permitted to sell individual life and 2. AIG was the first permitted to sell individual life and property insurance in Shanghai. ( )property insurance in Shanghai. ( )

3. In 1980, when China insurance industry began to revive, 3. In 1980, when China insurance industry began to revive, there were three major Chinese insurers in China. ( )there were three major Chinese insurers in China. ( )

4. The premium of non-life insurance in China kept increasing 4. The premium of non-life insurance in China kept increasing from 1980 to 2002. ( )from 1980 to 2002. ( )

5. WTO cast shadows upon china insurance industry and 5. WTO cast shadows upon china insurance industry and greatly delayed its development. ( )greatly delayed its development. ( )

Text : ExerciseText : Exercise


True or FalseTrue or False

1. PICC was the first insurance company in China. 1. PICC was the first insurance company in China. (F)(F)

2. AIG was the first permitted to sell individual life and 2. AIG was the first permitted to sell individual life and property insurance in Shanghai. property insurance in Shanghai. (T)(T)

3. In 1980, when China insurance industry began to revive, 3. In 1980, when China insurance industry began to revive, there were three major Chinese insurers in China. there were three major Chinese insurers in China. (F)(F)

4. The premium of non-life insurance in China kept 4. The premium of non-life insurance in China kept increasing from 1980 to 2002. increasing from 1980 to 2002. (F)(F)

5. WTO cast shadows upon china insurance industry and 5. WTO cast shadows upon china insurance industry and greatly delayed its development. greatly delayed its development. (F)(F)


Case AnalysisCase Analysis

Read the following material carefully and think about Read the following material carefully and think about

1. Is it necessary to buy insurance?1. Is it necessary to buy insurance?

2. Taiping Insurance Company made compensation to 2. Taiping Insurance Company made compensation to

the insured without receiving the policy. What do think of the insured without receiving the policy. What do think of

their deed? Is it right?their deed? Is it right?



Xiong Jianguo, a 22 years old, newly graduated college student, Xiong Jianguo, a 22 years old, newly graduated college student,

was badly hurt in a car accident and lost his life on the way to was badly hurt in a car accident and lost his life on the way to

the hospital. His parents were terrible sad at such a heavy blow, the hospital. His parents were terrible sad at such a heavy blow,

when a sudden call came in: "This is Taiping insurance when a sudden call came in: "This is Taiping insurance

company. May I speak to Xiong Jianguo? I want to get his company. May I speak to Xiong Jianguo? I want to get his

feedback about our insurance service" After inquire, Mr. and feedback about our insurance service" After inquire, Mr. and

Mrs. Xiong got the news that their son had bought a policy of Mrs. Xiong got the news that their son had bought a policy of

casualty insurance 3 months ago. According to the contract, he casualty insurance 3 months ago. According to the contract, he

needs to pay 369.3 Yuan a year, and can get certain needs to pay 369.3 Yuan a year, and can get certain

compensation in case of accident or some diseases. The highest compensation in case of accident or some diseases. The highest

compensation can be as much as 100,000 Yuan. compensation can be as much as 100,000 Yuan.

Text : Case Analysis Text : Case Analysis

He said nothing to his parents, nor gave them the insurance He said nothing to his parents, nor gave them the insurance

policy. Although Mr. and Mrs. Xiong are undoubtedly the policy. Although Mr. and Mrs. Xiong are undoubtedly the

beneficiary, they were not sure whether the insurance company beneficiary, they were not sure whether the insurance company

would compensate or not. At the same time, the customer would compensate or not. At the same time, the customer

service department reported the issue to supervisors. After service department reported the issue to supervisors. After

discussion, the underwriter decided to send an adjuster to Mr. discussion, the underwriter decided to send an adjuster to Mr.

Xiong's house, to get detail information about the accident. Xiong's house, to get detail information about the accident.

Finally Mr. and Mrs. Xiong got the compensation check of Finally Mr. and Mrs. Xiong got the compensation check of

100,000 Yuan with tears on their faces and kept saying “thank 100,000 Yuan with tears on their faces and kept saying “thank

you” to the adjuster.you” to the adjuster.

（（ END OF THE CASEEND OF THE CASE））

Text : Case Analysis Text : Case Analysis

1. Taiping Insurance Company made compensation to 1. Taiping Insurance Company made compensation to

the insured without the policy. What do think of their the insured without the policy. What do think of their

deed? Is it right?deed? Is it right?

It was a reasonable solution to that case, and can It was a reasonable solution to that case, and can

greatly publicize he image of Taiping Insurance greatly publicize he image of Taiping Insurance

Company.Company.

2. Is it necessary to buy insurance?2. Is it necessary to buy insurance?

Yes. Reasons can be found from the last part of the Yes. Reasons can be found from the last part of the

text.text.

Text : Text : Key to Case AnalysisKey to Case Analysis

DiscussionDiscussion

Global economy has been greatly affected by Global economy has been greatly affected by

the financial crisis. What strategy or strategies the financial crisis. What strategy or strategies

would you take to survive such a crisis? Discuss would you take to survive such a crisis? Discuss

with your classmate and write the result in a with your classmate and write the result in a

report.report.

Text : DiscussionText : Discussion

AssignmentsAssignments

1.1. Review the Text .Review the Text .

2.2. Keep in mind the berief Keep in mind the berief

history of China Insurance history of China Insurance

Industry Industry

3.3. Do exercises in the book.Do exercises in the book.

Unit 15: ChinaInsuranceIndustry Financial English.

Documents

Transcript of Unit 15: ChinaInsuranceIndustry Financial English.