CHECK YOUR ENGLISH VOCABULARY FOR BANKING AND FINANCE
10. Insurance
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A. Match these types of insurance with
the definitions.
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1
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Third party only
Third party fire and theft
Fully comprehensive
Buildings only
Buildings and contents
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a
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Home insurance covering the
fabric of the building only.
Pays out if you die or after a
set period - whichever is later.
Home insurance covering most
risks.
Motor insurance. Will only pay
claims made against you by others.
Covers the costs of private
health care.
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2
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b
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3
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c
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4
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d
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5
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e
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6
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Third party liability
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f
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Motor insurance. Will pay claims
made against you by others plus damage caused by fire.
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7
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Worldwide travel
Private health
Indemnity insurance
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g
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Motor insurance covering all
risks.
Covers claims made against you
by others, for example if you run a business.
Insurance cover for problems
while on holiday abroad.
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8
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h
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9
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i
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10
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Personal injury
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j
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Any insurance which covers financial
loss (numbers 1 to 8 are types of indemnity insurance).
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11
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Life
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k
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Pays out in the event of a
personal accident.
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B. Put the words into the correct
spaces.
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take out
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broker
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quote
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premium
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covered
|
claim
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pay out
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fill in
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How to ______________ an
insurance policy.
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1
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Choose an insurance
______________, or contact an insurance company direct.
Phone up and get a
______________ (or you can do this on the internet).
Pay the ______________.
Now you're ______________.
If you need to make a
______________, contact the insurance company.
You will probably have to
______________ a claim form.
You may have to wait several
weeks for the insurance company to ______________.
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2
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3
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4
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5
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6
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7
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C. Choose the best words to go into
each space.
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1
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A person who assesses
insurance claims is called a __________.
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|
A
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loss adjuster
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B
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claim adjuster
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C
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insurance adjuster
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2
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Your home insurance will be
expensive if you live in a _________ area.
|
|
A
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big risk
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B
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risky
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C
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high risk
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3
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An insurance broker usually
__________ several different insurance companies
|
|
A
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deals with
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B
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contacts
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C
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works for
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4
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In many cases, the insurance
company doesn't take the financial __________.
|
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A
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problem
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B
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risk
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C
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damage
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5
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The financial risk is taken by
_________ such as Lloyds of London.
|
|
A
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underwriters
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B
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undertakers
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C
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underpasses
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6
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Natural disasters usually mean
that insurance underwriters suffer __________.
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A
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heavy loses
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B
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high expenses
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C
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big debts
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7
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A __________ proves you have
insurance while the policy is being processed.
|
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A
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cover letter
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B
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cover paper
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C
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cover note
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8
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If you agree
to pay, for example, the first £200 of a claim, then your policy has a £200
__________.
|
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A
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surplus
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B
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extra
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C
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excess
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9
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A company giving insurance
cover is known as the __________.
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A
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insurer
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B
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insured
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C
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insurance
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10
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A person who has taken out
insurance cover is known as the __________…
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A
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insurer
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B
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insured
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C
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insurance
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11
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…or the __________.
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A
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policyholder
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B
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policy-taker
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C
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poliicy
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12
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A life insurance policy pays
out __________ your death or after a set period, whichever is first.
|
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A
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in case of
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B
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if
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C
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in the event of
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D. Choose the correct prepositions.
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1
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I've never claimed on / from
my insurance.
Don't worry. It's covered by /
with my insurance.
I'm insured for / by the Lion
Rock Insurance Company.
This sculpture is insured for
/ at £100,000.
I'm insured to / for drive any
car.
I'm covered by / for all
risks.
Which insurance company are
you with / in?
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2
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3
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4
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5
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6
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7
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ANSWER
KEY
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