資源描述：
《insurance sector》由會員上傳分享，免費在線閱讀，更多相關內容在行業(yè)資料-天天文庫。
1、ⅢInsurancesector1.InsuranceandRisksA.Whatisinsurance?保險的定義 Insuranceisanarrangementbywhichoneparty(theinsurer保險人，保險公司)promisestopayanotherparty(theinsuredorpolicyholder被保險人，持保人)asumofmoneyifsomethinghappenswhichcausestheinsuredtosufferafinancialloss.Theresponsibilityforpayingsuchlossesisthentrans
2、ferredfromthepolicyholdertotheinsurer.Inreturnforacceptingtheburdenofpayingforlosseswhentheyoccur,theinsurerchargestheinsuredaprice,theinsurancepremium保費. Considertwonext-doorneighbors,BobandSteve.Bothownhousesworth$80,000,butBobhasinsuredhishouseagainstpossiblelossbyfireatapremiumof$150whileStev
3、eisuninsured.Byinsuring,Bobhasbeenabletotransferthelossof$80,000tohisinsurer.Hisfinancialpositionisthereforethesamewhetherornothishouseburnsdown:whateverhappensallhehastopayisapremiumof$150.AlthoughSteveavoidspaying$150,hehastobearthefullcostsofanyfire.Heistherefore$150betteroffthanBobifthereisnof
4、ire,but$79,850worseoffintheeventofaconflagration火災. Insuranceworksbecausetheinsurercancollectpremiumsfromagroupofpeopleinsimilarcircumstances,notallofwhomwillsufferlossesinanyoneyear.Thesepremiumsarethenpooledtogether,andusedbytheinsurertopaylosses.Lossesarethussharedoutamongallthepolicyholdersra
5、therthanbornesolelybytheunluckyfew. Nowadaysinsurancenotonlyshareslossesamongindividualsandorganizations,italsospreadsthemovertime.Thisispossiblebecauseinyearswhenlossesarelighterthanexpected,insurerscanbuildupreserves(outofpremiumcontributionsandtheirinvestmentearnings)thatcansubsequentlybeusedi
6、nmoredifficultyears.B.Risks Riskispresentwheneverhumanbeingsareunabletocontrolorperfectlytoforeseethefuture.Althoughwecannotforeseethefuture,wecantosomeextentmeasureit.Whenwetossacoin擲硬幣wedonotknowwhatwillhappen–butwecanmakeaverygoodguess:wehaveequalchancesofgettingeithera‘head’ora‘tail’.Weusethe
7、termriskwhere:althoughtheprecisefutureoutcomeisunknown,thepossiblealternativescanbelisted(suchas‘heads’or‘tails’);andthechancesassociatedwiththosepossiblealternativesarealsoknown(suchasa50percentchanceofeither‘he
