Academic year: 2024-2025 Unit 3: Insurance

Level: 3rd year Finance Instructor: N. Oueslati

Subject: Anglais pour les financiers
I. Warmer:
1) Choose the best words to go into each space.

● A person who determines how much the insurance company should pay after a claim is called a
.................................................
b/.claims adjuster
a. claims processor b. claims adjuster c. risk assessor

● If you live in an area prone to flooding, your home insurance will likely be
.................................................
b/expensive

a. affordable b. expensive c. irrelevant

● If you avoid accidents, your car insurance company may reward you with a
.................................................
a/no-claimsbonus

a. no-claims bonus b. loyalty gift c. free service

● The amount you pay for your insurance policy on a regular basis is called a
.................................................
a/premium

a. premium b. fee c. deductible

● The company that sells or provides the insurance coverage is referred to as the
.................................................
c/insurer

a. broker b. underwriter c. insurer

● If something goes wrong and you need the insurance company to pay, you submit a
.................................................
a/claim

a. claim b. request c. report

● The person responsible for evaluating risk and determining whether an insurance application is
accepted is called an .................................................
c/underwriter

a. adjuster b. broker c. underwriter

N.B. Here’s a clarification:

................................................. is responsible for assessing the damage or loss after an insured event
occurs (e.g., a car accident or home damage). They determine how much the insurance company should
pay on a particular claim.
................................................. works at the start of the insurance process, evaluating the risk associated
with a potential customer. They decide whether the company should accept the risk and issue a policy,
and if so, what the terms and premium should be.

2) Match the type of insurance with the appropriate situation:

Travel Insurance – Life Insurance – Home Insurance – Health Insurance – Car Insurance

home insurance
...............................................: Protects your house and its contents from risks like fire or burglary.
 Academic year: 2024-2025 Unit 3: Insurance
Level: 3rd year Finance Instructor: N. Oueslati
Subject: Anglais pour les financiers
car insurance
...............................................: Covers damages to your vehicle and, in some cases, others involved in an
accident.

...............................................:
life insurance Provides financial compensation to your beneficiaries in the event of your
death.
health insurance
...............................................: Pays for medical treatment and hospital bills.

...............................................:
travel insurance Protects you against losses or emergencies while traveling abroad, like lost
luggage or medical expenses.
car insurance
...............................................: Protects against legal claims made against you for mistakes or negligence
in your professional services.

3) Fill in the blanks with these insurance-related terms:

Claim, Risk, Payout, Broker, Premium, Deductible

● The amount of money you agree to pay regularly for your insurance policy is called the
premium
.................................................

● If an incident occurs and you want the insurance company to cover the costs, you need to file a
.................................................
claim

deductuble
● The ................................................. is the amount of money you pay out-of-pocket before the
insurance company covers the rest.
payout
● If your claim is approved, the insurance company will send you a .................................................
broker
● A ................................................. is someone who helps clients find the best insurance policy for their
needs.
risk
● The higher the ................................................. you pose (for example, by living in a high-risk area), the
more expensive your insurance will be.

II. Reading comprehension:

Insurance in a nutshell

1. Insurance is protection against possible financial losses. Individuals, companies and organizations can
make regular payments, called premiums, to an insurance company which accepts the risk (or possibility)
of loss. When you buy insurance, you make a contract, called a policy, with the insurance –also known as
the insurer. The contract promises that the company will pay you if you suffer loss of or damage to
property, or sickness or personal injuries. Thus, there are various losses which people or businesses can
insure against including theft and damage from fire or other natural disasters, such as floods,
earthquakes and hurricanes. If property is stolen or damaged, the person or company who is insured
makes a claim, that is, requests compensation, from the insurer. The insurer will then indemnify or
compensate them: that is, pay them an amount of money equivalent to the loss. As the number of natural
disasters seems to be increasing, so are the claims for damage to property, and this will lead to higher
insurance premiums.
 Academic year: 2024-2025 Unit 3: Insurance
Level: 3rd year Finance Instructor: N. Oueslati
Subject: Anglais pour les financiers
2. Life insurance (also called assurance) will pay an agreed sum to someone else, for example your husband
or wife if you die before a certain age. People also use life insurance policies as a way to save for the future:
you can buy a policy that pays a certain sum on a specific date, such as when you retire from work. As with
pension plans, life insurance policies are tax shelters, or a way of postponing payment of tax. You do not
have to pay income tax on life insurance premiums. However, a lump sum –a single, large amount of
money paid out when an insurance policy matures – will be taxable.

3. In the past, many people buying insurance used independent brokers —people who searched for
insurance at the lowest cost, or agents —people working for the insurance company. However, like retail
banking, the insurance industry has changed in recent years. A lot of insurance is now sold direct, by
telephone or on the internet. This can be cheaper than insurance bought over the counter from a broker
or an agent.

4. Insurance companies have to invest the money they receive from premiums. Like pension funds, they
are large institutional investors that invest huge sums in securities, especially low-risk ones like
government bonds.

5. The largest insurance market in the world is “Lloyds of London”. This is an association of people called
underwriters, who guarantee to indemnify other people’s possible losses. Lloyds spreads risks among a
number of syndicates: groups of wealthy individuals, commonly known as “names”. These people can earn
a lot of money from insurance premiums if the clients never claim for compensation, but they also have
unlimited liability or responsibility for loses. If insurance companies consider that they have underwritten
too many risks, they can sell some of that risk to a reinsurance company. This is a company that will receive
some of the premium and also bear, or take, some of the risk.

Comprehension questions:

1) Tick the right option:

The text is: a) argumentative

b) narrative
c) expository

2) What happens in case an individual who has a car insurance gets his car stolen?
in care an individual whohas a car insurance gets their car stalen,the company will pay them due to the
.........................................................................................................................................................................
fact that"the contract promises that the company will pay(its clts)if(they)suffer loss on damager to property,sickness,or
personnel
3) State whether injuries"
the following statements are True or False and justify your answers with details from
the text:

- Insurance policies are free. false

................
individuels ,companies , and organisation can make of loss
.........................................................................................................................................................................

- Life insurance pays a specific amount if the insured dies within the time frame of the policy. ................ true
.........................................................................................................................................................................
if you die before a certainage

- Individuals still rely on independent brokers and agents solely to buy an insurance. false
................
the insurance industry has changed ...ou the internet
.........................................................................................................................................................................
 Academic year: 2024-2025 Unit 3: Insurance
Level: 3rd year Finance Instructor: N. Oueslati
Subject: Anglais pour les financiers
3) According to the text, how can individuals get the best insurance policy that fits their needs?
.........................................................................................................................................................................
an individuel can guet the best insurance Policy That fit thier needs by buying it " from agents or contacting an insurance
campany directly by telephone or on the internet "
.........................................................................................................................................................................

4) Find a word in the text that has the same meaning as the following:
postponing
Deferring (P.2): .............................................

5) Are you for or against the concept of insurance? Why?

.........................................................................................................................................................................

III. Language: The Simple Future:

*Will / will not + base verb.
Meaning 1: to talk about decisions made at the moment of speaking.
Examples: I will buy apples tomorrow. / “Will you go to the party?” “Hmm ... yes, I will go to the party.” /
“It is raining outside. I will get an umbrella.”
Meaning 2: a promise or offer.
Promise: I will see you tomorrow. / We will send you an email. / Mary will help with the cooking.
Offer: “I will help you with your homework if you like”. / “You look tired. I will make you a cup of tea.”
*Be going to: am/is/are + going to + base verb.
Meaning 1: to talk about plans or intentions.
Examples: I am going to drive to work today. / I am going to see a movie tonight. / They are going to
move to London.
Meaning 2: to make predictions based on evidence we can see.
Examples: “Be careful! You are going to fall”. (= I can see that you might fall.) / “Look at those black
clouds. I think it is going to rain.” (the black clouds = evidence) / “I do not feel well. I think I am going to
throw up.”

Question 1: Fill in the blanks with the correct future form of the verbs in brackets, using “will” or a form
of “be going to”:
● Do not worry! I promise I …………………………………………… will not be [not be] late for the meeting.
● A: Can we start the meeting a bit earlier?
B: Sure. We ............................................
will start [start] in five minutes.
● ……………………………….
will you ……………………………
prepare [prepare] me a sandwich, please?
● I have already decided. I ………………….………… am going to call [call] my manager tomorrow.
is going to break
● Look out! He ……………………………………………. [break] that door.
is going to eat
● He [eat] …………………………………………….. that hamburger. It smells good!
● A: I am are thirsty.
B: Wait here. I [get] ………………………………………..will get some water.
● During the summer, Catherine [go] ……………………………………………… is going to go to the beach.
● A: Who is meeting our customer at the airport?
will go
B: I ............................................. [go] if you want.

Question 2: Fill in the blanks with words from the following box. There is ONE EXTRA word:

costs – repairs – coverage – policy – owner – accidents – insurance policy – premium – insurer –
policyholder – incentive – virtual
 Academic year: 2024-2025 Unit 3: Insurance
Level: 3rd year Finance Instructor: N. Oueslati
Subject: Anglais pour les financiers
Insurance fraud refers to any duplicitous act performed with the intent to obtain an improper payment
from an ...........................
insurer . Prosecutors typically refer to an insurance fraud scheme as either “hard fraud”
or “soft fraud.” Hard fraud occurs when a criminal deliberately brings about the destruction of property
for the purpose of collecting on the ................................
insurance policy . Soft fraud, on the other hand, occurs when a
............................
policyholder exaggerates an otherwise legitimate claim or when an individual applies for an insurance
policy and lies about certain conditions or circumstances to lower the policy’s ......................... coverage . One
common form of insurance fraud occurs when the insurance policy amounts to a greater value than the
value of the insured property. In this situation the ................................
permium has the ...........................
owner to commit
insurance fraud by destroying the property and making it look like an accident in order to collect.
Fraudsters also commonly file insurance claims for .........................
accidents that never actually occurred. Owners
of life insurance policies have feigned their own deaths in order for their families to collect on the policy.
Then, the fraudster receives money from the family while secluded in a remote or foreign location. Health
care insurance fraud also can be perpetrated by either physicians or patients. Physicians commit fraud
when they misrepresent the type of treatment received by the patient so that the patient
receives..........................
incentive . Patients commit healthcare fraud when providing false information during the
application process of certain programs and services. Automobile insurance fraud occurs when a
policyholder submits a claim for an accident that never happened, files claims for injuries not related to
an automobile accident, reports higher .......................
repairs costs
for car ......................... than that actually paid, etc.
Source: Cornell Law School, Legal Information Institute

IV. Writing: dilemma and decision

You are an insurance consultant. A client comes to you for advice on the type of insurance they may
need. They are planning to go on a jungle safari and are worried about what might happen. What kind of
insurance would you recommend? Why?
Useful phrases :
……………………………………………………………………………………………………………………………………………
-The fact is …., so…
…………………………………………………………………………………………………………………………………………… -My view is ....
…………………………………………………………………………………………………………………………………………… -On the one hand,
-On the other hand,
……………………………………………………………………………………………………………………………………………
-This does not
…………………………………………………………………………………………………………………………………………… necessarily mean that ...
…………………………………………………………………………………………………………………………………………… -However, ....
-Whereas ....
…………………………………………………………………………………………………………………………………………… -Athough .....
…………………………………………………………………………………………………………………………………………… -Moreover, ....
-In addition, .....
……………………………………………………………………………………………………………………………………………
-Furthermore, ....
…………………………………………………………………………………………………………………………………………… -Consequently, ....
…………………………………………………………………………………………………………………………………………… -Accordingly, ....
-Therefore, .....
…………………………………………………………………………………………………………………………………………… -Due to...
…………………………………………………………………………………………………………………………………………… -The former
-The latter
……………………………………………………………………………………………………………………………………….....
-It could be argued
................................................................................................................................................. that…
...........................................................................................................................................……