1、chapter twenty-fouru.s. insurance industry regulationlearning objectivesafter learning this chapter, you should be able to: 1. tell the chief reasons for regulating insurance industry2. list the major goals of insurance regulation3. describe briefly the principal areas of insurance regulation4. talk

2、 a bit about the characteristics of u.s. insurance regulationnotesi. new words1.rationale n. 基本理論基礎(chǔ)，根本原因fundamental reason2.pervasive a. 遍布廣的wide spread3.insurer 保險人/保險公司（它與insured“被保險人”相對）4.to indemnify vt. 賠償，補(bǔ)償to compensate5.unregulated a. 未被管制的/未被監(jiān)管的6.artificially adv. 人為造成地7.initially adv. 最初地8

3、.to price vt. 給定價notes9.insolvency n. 無償還能力，破產(chǎn)unable to pay debts/going bankrupt10. to afford vt. 給予11. deceptive a. 騙人的12. ambiguous a. 含糊不清的，能引起歧義的13. detrimental a. 有害的，不利的14. competence n. 勝任being competent; ability15. virtually adv. 實(shí)際上，事實(shí)上actually; in fact16. to underestimate vt. 低估（與overestim

4、ate“過高估計(jì)”相對）notes17. to institute vt. 著手進(jìn)行，e.g. tothe necessary proceedings著手進(jìn)行訴訟必要程序18. outstanding a. 尚未付款的19. reserves n. 儲備金20. accomplish vt. 完成（任務(wù)等）21. policyholder n. 保單持有人；被保險人22. claimant n. 索賠人，提出索賠的人23. liquidator n. 清算人24. excessive a. 過度的，過分的，極度的notesii. useful and idiomatic expressions

5、1.be vested in. 歸屬于，e.g. the public interest 歸屬于公眾利益2.to indemnify sb. for. 因?qū)δ橙诉M(jìn)行賠償或補(bǔ)償3.to vie for. 為進(jìn)行競爭（vie的現(xiàn)在分詞為vying）4.in the eyes of. 在的眼光中5.to go broke 破產(chǎn)become insolvent or go bankrupt6.to afford equal treatment to all its creditors 向它所有的債權(quán)人提供平等的待遇7.to spell out 清楚說明to make clear the details

6、 or meaning of sth.8.to comply with. 符合9.to exempt sb. from. 使某人免除10. to aim at. 目的在于notesiii. key terms1.fraud n. 詐欺any act, expression, mission, or concealment calculated to deceive another to his or her disadvantage2.insurance policy 保險單，保單a legal contract under the terms of which an insurance co

7、mpany agrees to pay for stated losses3.premium n. 保險費(fèi)the price of an insurance policy4.premium rate 保險費(fèi)率5.assets n. 資產(chǎn)6.liabilities n. 負(fù)債7.the commissioners of insurance 保險專員8.district court （美聯(lián)邦系統(tǒng)的）地區(qū)法院notes9.life insurer 人壽保險公司10.financial statements 財(cái)務(wù)報表（如balance sheet, income statement, a statem

8、ent of cash flow）11.insurance code 保險法insurance law12.insurance policy forms 保單格式13.loss reserves 損失儲備金 reserves for covering possible losses14.insurance brokers 保險經(jīng)紀(jì)人15.insurance agents 保險代理人16.capital ratio 資本比率main text reasons for regulating insurance 1. for protecting the public interest 2. for

9、 preventing excessive competitionmain text goals of insurance regulation 1. to prevent insurers from getting insolvent 2. to prevent frauds committed by the insurers 3. to make sure that the insurance policies of the insurer are reasonably priced 4. to make insurance widely availablemain text regula

10、ted insurance areas 1. chartering of insurance 2. examination of insurers 3. insurers insolvency 4. premium rates 5. reserve requirements 6. investments 7. policy forms 8. unfair practices 9. competence of insurance agents and brokersmain text brief comments on u.s. insurance-regulation characterist

11、ics the purpose of most regulations is to protect policyholders from losses due to the insolvency of the insurance company. to accomplish this, insurance companies are restricted as to their asset composition and minimum capital ratio. all states also require that insurance agents and brokers obtain

12、 state licenses to sell each kind of insurance: life, property, casualty, and health. these licenses are to ensure that all agents have a minimum level of knowledge about the products they sell. 1. why must insurance industry be regulated? 2. what are the chief goals of insurance regulation? 3. can yo