SummaryFirstly, insurance in financial definition: a arrangement that redistributes the costs of unexpected losses, involves the transfer of many different exposures to loss to one insurance pool.Secondly, the operation of insurance: an insurance system accomplishes the redistribution of the costs of losses bya premium payment from every participant in the system. an insurance system redistributes the costs of losses from the unfortunate fewmembers of the insurance pool the insured is compensated by the insurer when a loss occur.Finally, contracts of insurance: contracts of insurance will enforce form a special class of contract in that the law requires parties to them, theinsured and the insurer, to exercise the utmost good faith towards each other.
Group • • • • • Trương Mỹ Hoa Hoàng Thị Thúy Trinh Đặng Thùy Dương Vũ Hoàng Vân Trương Trần Huyền Trang • Summary • Reading • Vocabulary Contents Vocabulary Accomplish (v) [ə'kɔmpli∫] Hoàn thành Compensate (v) ['kɔmpenseit] Bồi thường Economic losses (n) [,i:kə'nɔmik] [lɔs] Những tổn thất kinh tế Experience (v) [iks'piəriəns] Trải qua, nếm mùi Exposure (n) [iks'pouʒə] Nguy cơ, rủi ro Occur (v) [ə'kɜ:(r)] Xảy Devise (v) [di'vaiz] Tạo The insured(n) [ðə] [in'∫uəd] Người mua bảo hiểm Vocabulary Insurance pool(n) [in'∫uərəns] [pu:l] Quỹ bảo hiểm Insurance fund(n) [in'∫uərəns] [fʌnd] Quỹ bảo hiểm Participant(n) [pɑ:'tisipənt] Người tham gia Contemplate(v) ['kɔntempleit] Suy ngẫm The predictability of losses in advance [ðə] [pri,diktə'biləti] Khả dự đoán trước tổn thất [ɔv] [lɔs] [in] [əd'vɑ:ns] Cost of unexpected losses [kɔst] [ɔv] [,ʌniks'pektid] [lɔs] Chi phí cho tổn thất ngồi dự kiến Premium payment ['pri:miəm] ['peimənt] Thanh toán bảo hiểm Reading Throughout human to history, unexpected economic losses have occurred Such losses would continue to occur whether or not a system of insurance had ever been devised But through the operation of insurance system, losses can be predicted in advance, it allows the cost of losses to be financed and redistributed in advance Questions In what way, losses can be predicted before they occur? .Losses can be predicted before they occur through the operation of insurance system Why the predictability of losses in advance is basic to an insurance system’s operation? Because it allows the cost of losses to be financed and redistributed in advance Reading Throughout human to history, unexpected economic losses have occurred Such losses would continue to occur whether or not a system of insurance had ever been devised But through the operation of insurance system, losses can be predicted in advance, it allows the cost of losses to be financed and redistributed in advance Trong suốt lịch sử loài người tổn thất kinh tế bất ngờ xảy Những tổn thất tiếp tục xảy dù hệ thống bảo hiểm có hay khơng tạo Nhưng qua hoạt động hệ thống bảo hiểm, tổn thất dự đốn trước, cho phép chi phí tổn thất tài trợ phân phối lại trước Reading The first definition of insurance that we will examine is the finance one In this instance, insurance is a financial arrangement that redistributes the costs of unexpected losses The insurance arrangement involves the transfer of many different exposures to loss to one insurance pool, which combines the numerous exposures Questions What is insurance in financial definition? Insurance is a financial arrangement that redistributes the costs of unexpected losses What does the insurance arrangement involve? The insurance arrangement involves the transfer of many different exposures to loss to one insurance pool, which combines the numerous exposures Reading The first definition of insurance that we will examine is the finance one In this instance, insurance is a financial arrangement that redistributes the costs of unexpected losses The insurance arrangement involves the transfer of many different exposures to loss to one insurance pool, which combines the numerous exposures Định nghĩa bảo hiểm mà xem xét theo góc độ tài Trong trường hợp bảo hiểm hợp đồng tài phân phối lại chi phí tổn thất ngồi dự kiến Hợp đồng bảo hiểm liên quan đến chuyển giao nhiều loại rủi ro tổn thất khác đến quỹ bảo hiểm- quỹ kết hợp nhiều rủi ro Reading An insurance system accomplishes the redistribution of the costs of losses by collecting a premium payment from every participant in the system In exchange for the payment of the premium, the insured receives a promise from the insurance system to be compensated in the event of a loss In most insurance system only a small percentage of those insured suffer losses Thus, an insurance system redistributes the costs of losses from the unfortunate few members of the insurance pool (including those who suffer losses) who have paid premiums Questions How can an insurance system accomplish the redistribution of the costs of losses? An insurance system accomplishes the redistribution of the costs of losses by collecting a premium payment from every participant in the system What dose the insured receive when a loss occur? The insured is compensated by the insurer when a loss occur Reading An insurance system accomplishes the redistribution of the costs of losses by collecting a premium payment from every participant in the system In exchange for the payment of the premium, the insured receives a promise from the insurance system to be compensated in the event of a loss In most insurance system only a small percentage of those insured suffer losses Thus, an insurance system redistributes the costs of losses from the unfortunate few members of the insurance pool (including those who suffer losses) who have paid premiums Một hệ thống bảo hiểm hoàn thành việc phân phối lại chi phí tổn thất cách thu nhận phí bảo hiểm từ người tham gia bảo hiểm Đổi lấy việc tốn phí bảo hiểm người mua bảo hiểm nhận lời cam kết công ty bảo hiểm bồi thường cố xảy Hầu hết hệ thống bảo hiểm có tỷ lệ nhỏ người bảo hiểm gặp rủi ro Như hệ thống bảo hiểm phân phối lại chi phí tổn thất từ quỹ bảo hiểm đến người chịu rủi ro ( kể người chịu tổn thất) người trả phí bảo hiểm Reading An insurance system is able to operate because all the insured are willing to substitute a relatively small certain outlay, the insurance premium, for a relatively a large uncertain loss Reading An insurance system is able to operate because all the insured are willing to substitute a relatively small certain outlay, the insurance premium, for a relatively a large uncertain loss Một hệ thống bảo hiểm hoạt động tất người mua bảo hiểm sẵn sàng chịu khoản phí bảo hiểm tương đối nhỏ thay tổn thất tương đối lớn Reading It is generally assumed that most people find the possibility of suffering a large loss unpleasant to contemplate Therefore, people are willing to pay an insurance premium to be relieved of the uncertainty about a loss, as well as to be compensated if the loss actually occurs Thus, even if no loss occurs during a year, as will be the case for most insured, value has still been received in the form of an eliminated unpleasant mental state, the anxiety about a loss Questions Why are people willing to pay an insurance premium? Because they find the possibility of suffering a large loss unpleasant to contemplate and if the loss occurs the insured will be compensated by the insurer, if no loss occurs the insured have still eliminated unpleasant mental state and the anxiety about a loss Reading It is generally assumed that most people find the possibility of suffering a large loss unpleasant to contemplate Therefore, people are willing to pay an insurance premium to be relieved of the uncertainty about a loss, as well as to be compensated if the loss actually occurs Thus, even if no loss occurs during a year, as will be the case for most insured, value has still been received in the form of an eliminated unpleasant mental state, the anxiety about a loss Nhìn chung hầu hết người cho khả phải gánh chịu tổn thất lớn dự kiến đáng để suy ngẫm Do vậy, người sẵn sàng trả khoản phí bảo hiểm để giảm bớt nỗi lo gặp phải rủi ro, để nhận bồi thường tổn thất xảy Như kể năm khơng có tổn thất xảy , điều hay xảy với người mua bảo hiểm , họ nhận giá trị loại bỏ trạng thái tinh thần khó chịu lo lắng mát Reading It is sometimes said that insurance is like gambling The law however has found a mean of distinguishing between gambling contracts, which it will not enforce, and insurance contracts, which it will Contract of insurance form a special class of contract in that the law requires parties to them, the insured and the insurer, to exercise the utmost good faith towards each other Question Is insurance like gambling? Why? No, it isn’t Because gambling contracts will not enforce but insurance contracts will enforce 9.What you know about contracts of insurance? Contract of insurance form a special class of contract in that the law requires parties to them, the insured and the insurer, to exercise the utmost good faith towards each other Reading It is sometimes said that insurance is like gambling The law however has found a mean of distinguishing between gambling contracts, which it will not enforce, and insurance contracts, which it will Contract of insurance form a special class of contract in that the law requires parties to them, the insured and the insurer, to exercise the utmost good faith towards each other Đơi người ta nói bảo hiểm giống cờ bạc Tuy nhiên pháp luật tìm khác giao kèo cờ bạc- thực thi hợp đồng bảo hiểmcái phải thực thi Hợp đồng bảo hiểm mẫu hợp đồng đặc biệt mà pháp luật đòi hỏi bên – bên mua bên bán bảo hiểm tuân theo, để tạo niềm tin tuyệt đối bên Summary • Firstly, insurance in financial definition: - a arrangement that redistributes the costs of unexpected losses, - involves the transfer of many different exposures to loss to one insurance pool • Secondly, the operation of insurance: - an insurance system accomplishes the redistribution of the costs of losses by system - an insurance system redistributes the costs of losses from the unfortunate few a premium payment from every participant in the members of the insurance pool - the insured is compensated by the insurer when a loss occur • Finally, contracts of insurance: - contracts of insurance will enforce - form a special class of contract in that the law requires parties to them, the faith towards each other insured and the insurer, to exercise the utmost good Thanks for attention! ... Is insurance like gambling? Why? No, it isn’t Because gambling contracts will not enforce but insurance contracts will enforce 9.What you know about contracts of insurance? Contract of insurance. .. unexpected losses The insurance arrangement involves the transfer of many different exposures to loss to one insurance pool, which combines the numerous exposures Questions What is insurance in financial... in financial definition? Insurance is a financial arrangement that redistributes the costs of unexpected losses What does the insurance arrangement involve? The insurance arrangement involves