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Exercise 4

Match each of the phrases on the left with an appropriate explanation on the right. Five of the phrases have more than one explanation. Fill in the grid below.

1.

insurance

a.

agreement that in return for regular small

 

 

 

payments, a company will pay compensation for

 

 

 

loss, damage, injury, death

 

 

 

 

2.

insurance claim

b.

independent firm who asses the damage to property

 

 

 

 

3.

insurance

c.

person who calculates losses for an insurance

 

premium

 

company

 

 

 

 

4.

depreciation

d.

policy which covers all possible normal dangers

 

 

 

with the exception of war, Act of God, etc.

 

 

 

 

5.

underwriters

e.

person who is insured by an insurance company

 

 

 

 

6.

adjusters

f.

rate payable for an insurance policy

 

 

 

 

7.

all-risks policy

g.

system of protection against loss in which a number

 

 

 

of individuals agree to pay certain sums for a

 

 

 

guarantee that they will be compensated for any

 

 

 

specified loss by fire, accident, death, etc.

 

 

 

 

8.

policy holder

h.

person or agent who underwrites insurance

 

 

 

 

9.

take out a policy

i.

reduction in value, writing down the capital value

 

 

 

of an asset over a period of time in a company’s

 

 

 

accounts

 

 

 

 

10.

premium

j.

sign the contract for an insurance and start paying

 

 

 

the premiums

 

 

 

 

 

 

k.

insurance which covers all risks

 

 

 

 

 

 

l.

asking an insurance company to pay compensation

 

 

 

for damage

 

 

 

 

 

 

m.

people who take the risks of insurance; if there are

 

 

 

no claims they make a profit; if there are a large

 

 

 

number of claims , they make a loss.

 

 

 

 

 

 

n.

decrease of value of property through wear,

 

 

 

deterioration or going out of use

 

 

 

 

 

 

o.

payment made by the insured person to the users

 

 

 

 

120

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