Lloyd’s of London

1. Lloyd’s, the biggest insurance business in the UK and in the world, is not a company, but an association of London underwriters. It was incorporated in 1871 and it is so called from Edward Lloyd. Edward Lloyd was the owner of a coffee house where underwriters at that time met to do business. Today more than 20, 000 members of Lloyd’s in 80 countries work for Lloyd’s. Underwriting members or underwriters are grouped into 280 syndicates. The syndicates vary in size from the relatively small units to several thousand individuals.

2. Insurance is usually undertaken through Lloyd’s brokers rather than directly with Lloyd’s underwriting members. Lloyd’s brokers know better what syndicate to approach and how to negotiate the business. They act, like other brokers, and negotiate on behalf of their customers. They do not bear any risks, since only underwriting members bear all the risks with unlimited liability. One of the main principles of insurance with Lloyd’s is the spreading of risk as widely as possible among syndicates to minimize their losses.

3. Lloyd’s is best known as a centre of marine insurance, but at the same time all kinds of insurance are practiced there. In fact, at the present day marine insurance comprises less than half the total business undertaken. Almost anything can be insured there as well: aircraft, communication satellites, civil engineering projects, livestock and so on. Besides they do some business in travels, publishing and land. Lloyd’s motto Fidentia means confidence in the future.

7. Определите, являются ли приведенные ниже утверждения (1, 2, 3)

а) истинными (true)

б) ложными (false)

в) в тексте нет информации (no information)

1) Edward Lloyd was the proprietor of a coffee house where at that time insurers met to do business.

2) Only brokers bear all the risks with unlimited liability.

3) Lloyd’s provided free insurance against less or damage.

8. Прочитайте абзац 4 и ответьте письменно на следующий вопрос:

How do Lloyd’s brokers act?

1) underwriter - страховщик (часто морской, член ассоциации страховщиков «Ллойдc»)

2) syndicate - синдикат (вид монополистического объединения предпринимателей в целях ограничения конкуренции, повышения цен и увеличения прибыли)

Вариант №5

1. Переведите письменно существительные (1-10). Выберите определения

(a – j), соответствующие существительным:

1) growth	a) a difficult situation caused by a lack of something,
2) salary	b) money that you receive as payment from the organization you work for, usually paid to you every month
3) inflation	c) money or property used to produce wealth
4) trade-off	d) continuing increase in the prices of goods and services
5) crisis	e) an increase in size, amount, or degree
6) liquidity	f) an organization that holds money, important documents and other valuables in safe keeping, and lends money at interest
7) crunch	g) the amount of money in an economy at a particular time
8) capital	h) a person who buys goods and services for his\her own use and not for resale
9) consumer	i) balance between two situations in order to get an acceptable result
10) bank	j) a serious economic situation where decisions have to be taken quickly

2. В следующих предложениях подчеркните определения, выраженные именем существительным, и переведите эти предложения на русский язык.

1) The manager must have a good understanding of management principles.

2) Modern manager should be able to evaluate the needs of the total context in which his business functions and he should act in accord with his understanding.

3) Enlightenment scholars looked for a different explanation of economics.

3. a) Выполните КОПР № 2, 4.

б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.

1) In the 1700s, the sciences were split into natural sciences and social sciences.

2) Managers who can operate effectively across cultures and national borders are invaluable in global business.

3) No one has had more influence on managers in the 20^th century than Frederick W. Taylor, an American engineer.

4. В следующих предложениях подчеркните модальный глагол или его эквивалент. Переведите предложения на русский язык.

1) The lack of liquidity means that banks must either abandon their promises to pay depositors or pay depositors until the bank runs out of money and fails.

2) Bank accounts may be established by national and state chartered banks, and savings associations.

3) What part can management education play in developing the international manager?

5. В следующих предложениях подчеркните Participle 1 и Participle 2 и укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.

1) In designing and constructing plans and products, management must draw on technology and physical science.

2) The way of doing a job would be no longer be determined by guesswork.

3) Taylor’s solutions to the problems were based on his own experience.

6. Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзацы 1, 3.