商务英语翻译课后练习(四)

集美大学外国语学院翻译理论与实践（4）

商务英语翻译课后练习(四)

Insurance

In international buying and selling of goods, there are a number of risks, which, if they occur, will involve traders in financial losses. For instance cargoes in transit may be damaged due to breakage of packing, clash or fire etc. These hazards, and many others, may be insured against. Insurance is a process for spreading risks, so that the burden of any loss is borne not by the unfortunate individual directly affected but y the total body of persons under consideration. In return for a payment known as a premium paid by the insured, an insurance company will to compensate the insured person in the event of losses during the period of insurance. Almost all the international shipments should be insured against loss and damage.

There are mainly two types of insurance coverage, basic coverage and additional coverage. Basic coverage mainly includes FPA, WPA and ALL Risks.

FPA (free from particular average) is limited form of cargo insurance cover under which no partial loss or damage is recoverable. It only provides coverage for total losses and general average emerging from the actual marine perils like vessel being stranded, grounded or sunk.

WPA (with average) is a wider cover than FPA. It provides extensive cover against all loss or damage due to marine perils throughout the duration of the policy, including partial loss or damage that may be attributed to natural calamities like heavy weather.

All Risk coverage is the most comprehensive of the three under which the insurer is responsible for all total or partial loss of, or damage to the goods insured either arising from sea perils or general external causes. However, it does not cover loss, damage or expense cause by delay, inherent vice or nature of the goods insured, or special external risks of war, strike, etc.