II. Find in the text the English equivalents for the next word combinations.
Возмещение убытков - the indemnification;
Предмет договора о страховании - a subject of a contract of insurance;
Стороны в договоре - the parties to the contract;
По вступлению оговоренных событий - on the happening of a particular event;
Документ являющийся подтверждением - the instrument being evidence;
Пострадавшая сторона подает иск - injured party puts in a claim;
Иметь страховой интерес - to have insurable interest;
Ложный иск - false claim;
Объявить полис недействительным - render the policy void.

III. Match the words or word combinations of both sides
1. Indemnification – payment of a lump sum;
2. Assurer – underwriter;
3. Insured – person who pays the premium;
4. An insurance policy - instrument;
5. To meet the claim – to pay;
6. To disclaim all liability – to render the policy void;
7. Adjusters – independent expert firms.


IV. Answer the questions 2
1. What is the nature of the contract of insurance?
A contract of insurance is a contract having for its object the indemnification against loss, or the payment of a lump sum upon the happening of a certain event.
2. What is the indemnification?
The indemnification is a payment of a lump sum upon the happening of a certain event.
3. What parties enter a contract of insurance?
Two parties, insurer and insured enter a contract of insurance.
4. Who takes the risk of the insurance?
The insurers are taking the risk of the insurance.
5. Who is the insured?
The insured is the person paying the premium for the consideration of the contract.
6. What is the consideration of the contract of insurance?
The consideration of the contract of insurance is a pay of a lump sum down on the happening of a particular event.
7. When do insurance companies make profits?
The insurance companies make profits if there are no claims.
8. When do they make losses?
The insurance companies make losses if there are a large number of claims.
9. Why an insurance policy is called an all-risks policy?
An insurance policy is called an all-risks policy because it insure the goods or property against almost anything that could happen.
10. Why does the insurer disclaim all liability? 3
The insurer disclaims all liability when an insured has a false claim.

V. Make the sentence negative
- Sometimes the insurer cannot disclaim all liability;
- The injured party doesn’t have to put in a claim;
- The principal forms of insurance are not life, fire and marine;
- The most insurance companies do not put any exceptions.

VI. Put up 4 types of the questions
- Adjusters are usually independent firms.
1) Adjusters are usually independent firms, aren’t they?
2) Are adjusters usually independent firms?
3) Are adjusters usually independent or dependent firms?
4) Who are usually independent firms?
- Actuary works out the average expectation of life.
1) What does actuary work out?
2) Does actuary work out the average expectation of life?
3) Actuary works out the average expectation of life, doesn’t it?
4) Does actuary or a true work out the average expectation of life?
- A false claim has been made for damage by fire.
1) A false claim has been made for damage by fire, hasn’t it?
2) Has a false claim has been made for damage by fire?
3) Has a false or a true claim has been made for damage by fire? 4
4) What claim has been made for damage by fire?
- Only those people can enter the contract of insurance, who stand in a legal relationship to the insured thing.
1) Can only those people who enter the contract of insurance, who stand in a legal relationship to the insured thing?
2) Who can enter the contract of insurance?
3) Only those people can enter the contract of insurance, who stand in a legal relationship to the insured thing, can’t they?
4) Can only those people who enter the contract of insurance, who stand in a legal or illegal relationship to the insured thing?

VII. Choose the proper word and put it in the sentences.
1) A contract of insurance has for its object indemnification against loss.
2) The assurer takes risk and agrees to indemnify.
3) The premium for the consideration of the contract is paid by insured.
4) The insured pays the insurance premium for an insurance policy.
5) When the particular event takes place, the injured party put in a claim.
6) To disclaim all liability means to render the policy void.