Insurance

1. Insurance 2010级 3B2 金融学102本科班 乔贝 10154040206 金融学102本科班 张多 10154040213 金融学102本科班 周昕毓 10154040223 金融学102本科班 宣沁瑶 10154040229

2. 1. 2. 3. 4. Definition and Background Types of Insurance Choice of Insurance Functions of Insurance Insurance

3. Definition and Background

4. What is insurance? Insurance is to show policy-holder is according to the contract, pay insurance premium to the underwriter, the insurer may be agreed upon in the contract by an occurrence of a property shall be liable to compensation for the losses caused by the insurance liability, or when the death, disability, disease or reaches the age of the contract, the time limit for the payment of the insurance benefits of commercial insurance responsibility behavior.

5. Background Insurance in some form is as old as historical society. So-called bottomry contracts were known to merchants of Babylon as early as 4000–3000 bc. Bottomry was also practiced by the Hindus in 600 bc and was well understood in ancient Greece as early as the 4th century bc. Ancient Roman law recognized the bottomry contract in which an article of agreement was drawn up and funds were deposited with a money changer.

6. Background Ocean Marine Insurance is the oldest form of insurance, probably dating to the Middle Ages. The organization of Insurance took great steps forward with the formation and development of an insurance market on Lombard Street in London, England and subsequently-- since 1769--Lloyds of London. Today, Lloyds still plays a prominent role in Marine Insurance.

7. The history of Insurance Industry • 1984, People’s Insurance Company of China (PICC) • 1988,Shenzhen Ping'an • 1991, China Pacific Insurance Co. Ltd. • 1992, AIA • 1995, the PRC Insurance Law • 2001, China’s entry into the WTO

8. Risks and Losses Why do we need to buy insurance?

9. lightening heavy weather earthquake volcanic eruption Tsunami sandstorm

10. wreck fire theft collision crash

11. What Are the Functions of Insurance?

12. In China, China Insurance Clauses(C.I.C.）issued by the People’s Insurance of China(PICC) is mainly adopted for international cargo transportation insurance. Basic Risks Coverage Free from Particular Average (FPA) With Particular Average(WPA/WA) All Risks(AR) Additional Risks Coverage General Additional Risks Special Additional Risks China Insurance Clauses

13. Basic Functions of Insurance 1.Primary Functions 2.Secondary Functions 3.Other Functions

14. Primary Functions of Insurance Providing protection  Collective risk bearing  Evaluating risk  Providing Certainty 

15. Secondary Functions of Insurance Preventing losses  Covering larger risks with small capital  Helping in the development of larger industries

16. Other Functions of Insurance • A savings and investment tool  • Medium of earning foreign exchange • Risk Free trade

17. Automobile Insurance The function of auto insurance is to provide protection in the event of an automobile accident or other incident involving a motor vehicle. The policy is designed to pay for damage to property as well as medical expenses of injured parties.

18. Homeowner's Insurance Homeowner’s, or property, insurance protects your house or other real estate from unexpected damage or malicious actions. If your home is damaged, vandalized, or robbed, the functions of insurance for your home are to provide funds, typically in the form of reimbursement, to repair or replace those items affected by the incident.

19. Life Insurance Life insurance provides a lump sum of money to your chosen beneficiaries in the event of your death. Some types of life insurance expire after a certain number of years, while other types last forever.

20. Health Insurance The functions of insurance related to medicine are to offset the cost of well visits, sicknesses, and major health occurrences. Health insurance pays the bulk of your medical expenses when you need treatment. Most policies limit your potential expenses to relatively minor deductibles and participation costs called co-pays.

21. Disability Insurance Disability insurance pays you a monthly benefit if you get injured and are unable to perform the normal functions of your job. These payments will continue until you are well again or until you exhaust your benefits.

22. Long-Term Care Insurance If you need to stay in a nursing home or assisted living facility, long term care insurance will pay a daily or monthly benefit toward the cost of that care. These payments will continue until you no longer need that care or until you have exhausted your benefits.

23. Types of Insurance

24. Typical insurance companies & products

25. Common Insurance: products • Life protection • Health Protection • Accident & Disability Protection • Property protection Personal Insurance: • Home insurance • Travel insurance • Private car insurance • Domestic helper insurance

26. A survey about insurance products

27. The background of PICC

28. PK

29. Some Tips

30. 1 Decide the species (age ) 2 Decide the species (needs) Choose the exact product 3 4 Some tips How to choose the right insurance product

31. According to the age • Children personal accident insurance health insurance education insurance • Adult personal accident insurance health insurance financial insurance • The aged personal accident insurance health insurance long-term life insurance

32. According to our needs • Health • Property such as car, house. ect • Investment

33. Choosing the exact product • Make clear the insurance liability(保险责任) • Make clear the scope of insurance coverage (保障范围) • Note the non responsibility (免责条款) • Calculate the price

34. Some tips • All the contracts should be carefully checked and verified. The things being protected is ours. • High yielding is always accompanied with high risks. Insurance is for protection, so in no case should we regard it as a profiteering tool.

35. Don’t reject the sellers as soon as you see them. When facing the door-to-door selling Then make your own judgment, believe it or not. Be polite. If you have time, listen to them first.

36. THANK YOU