Lloyd’s of London

1. Lloyd’s, the biggest insurance business in the UK and in the world, is not a company, but an association of London underwriters. It was incorporated in 1871 and it is so called from Edward Lloyd. Edward Lloyd was the owner of a coffee house where underwriters at that time met to do business. Today more than 20, 000 members of Lloyd’s in 80 countries work for Lloyd’s. Underwriting members or underwriters are grouped into 280 syndicates. The syndicates vary in size from the relatively small units to several thousand individuals.

2. Insurance is usually undertaken through Lloyd’s brokers rather than directly with Lloyd’s underwriting members. Lloyd’s brokers know better what syndicate to approach and how to negotiate the business. They act, like other brokers, and negotiate on behalf of their customers. They do not bear any risks, since only underwriting members bear all the risks with unlimited liability. One of the main principles of insurance with Lloyd’s is the spreading of risk as widely as possible among syndicates to minimize their losses.

3. Lloyd’s is best known as a centre of marine insurance, but at the same time all kinds of insurance are practiced there. In fact, at the present day marine insurance comprises less than half the total business undertaken. Almost anything can be insured there as well: aircraft, communication satellites, civil engineering projects, livestock and so on. Besides they do some business in travels, publishing and land. Lloyd’s motto is “Confidence in the future”.

7. Определите, являются ли приведенные ниже утверждения (1, 2, 3)

а) истинными (true)

б) ложными (false)

в) в тексте нет информации (no information)

1) Edward Lloyd was the proprietor of a coffee house where at that time insurers met to do business.

2) Only brokers bear all the risks with unlimited liability.

3) Lloyd’s provided free insurance against loss or damage.

8. Прочитайте абзац 2 и ответьте письменно на следующий вопрос:

How do Lloyd’s brokers act?

1) underwriter - страховщик (часто морской, член ассоциации страховщиков «Ллойдc»)

2) syndicate - синдикат (вид монополистического объединения предпринимателей в целях ограничения конкуренции, повышения цен и увеличения прибыли)

Вариант №5

I. Переведите письменно существительные (1-10). Выберите определения

(a – j), соответствующие существительным:

1) wage	a) effort or work, especially tiring physical work
2) outcome	b) any of the possessions or qualities of a person, an organization, or especially a country
3) labour	c) ability to do something
4) employment	d) good fortune and success, especially in money matters
5) capacity	e) money which one receives regularly, usually as payment for one’s work or interest from investments
6) enterprise	f) paid work; useful activity
7) flexible hours	g) the amount that something, especially a factory, can produce
8) prosperity	h) a company, organization or business
9) resource	i) one can change the time when to start and finish work
10) income	j) a payment made for work done, calculated by the hour, day, or week or by the amount produced, and usually received daily or weekly

2. В следующих предложениях подчеркните определения, выраженные именем существительным, и переведите эти предложения на русский язык.

1) The exchange rate is the amount of one currency needed to buy another currency.

2) A business plan should prove that your business will generate enough revenue to cover your expenses and make a satisfactory return for bankers and investors.

3) Sales promotion can be directed at the consumer, the trade purchaser or the company's sales force.

III. a) Выполните КОПР № 2, 4.

б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.

1. Small and medium businesses employ the majority of the population and enable them to earn a wage.

2. Companies in the 1980-s merged with other companies that produced the same or related goods or services.

3. Many partnerships have started as sole proprietorships.

IV. В следующих предложениях подчеркните модальный глагол или его эквивалент. Переведите предложения на русский язык.

1) People must choose how best to use their available resources to satisfy the greatest number of wants and needs.

2) Materials can be bought on credit to help finance current expenditure.

3) Business people may borrow money in order to expand their business.

V. В следующих предложениях подчеркните Participle 1 и Participle 2 и укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.

1) When drawing up a contract for the sale of goods, it is necessary to give a detailed description of the goods.

2) Signing the letter the manager asked the secretary to send it off at once.

3) Games and competitions are becoming commonplace in promoting sales of a product or service.

VI. Прочитайте и устно переведите на русский язык весь текст. Письменно переведите абзацы 1, 2.