Moreover, beyond that, how does one know, in taking out an insurance policy, that the insurance company is going to be sound?

除此之外，在人们购买保险时，该如何得知保险公司，会严格按照保单言而守信呢？

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An insurance policy--the concept is very simple, we could talk about fire insurance or life insurance.

保单的概念其实很简单，我们可以谈谈火灾保险，或者人寿保险。

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With non-participating--with participating, you are participating in the portfolio outcome that the insurance company is experiencing, so you have some uncertainty about your cash value.

所谓参与式分红保险,是指你的收益来自某个投资组合收益,而这个投资组合是由保险公司来管理的,所以保单的现金价值是不确定的

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Then of course, there's the other problem that the insurance company-- how does the insurance company reasonably specify that it can come through on this policy?

之后，对保险公司来说,当然还存在其它问题-,保险公司怎样才能使一份保单上,载明的内容合理而有效被执行呢？

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So, the insurance company with one hundred policies would have still substantial risk.

所以签了100份保单的保险公司,仍然面临一定的风险

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The simplest form of life insurance is called "term insurance."

最简单的寿险保单形式叫做定期人寿保险

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In Renaissance Italy they started writing insurance policies-- I read one of the insurance policies, it's in the Journal of Risk and Insurance-- and they translate a Renaissance insurance policy and it's very hard to understand what this policy was saying.

在文艺复兴时期的意大利,人们开始编写保单,我看过其中一份,刊登在《风险和保险杂志》上,他们翻译了一份文艺复兴时期的保单,但是很难理解那份保单到底想说什么

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They want to make sure that there's a significantly high probability-- sufficiently high probability-- that even if they get a bad draw and there are a lot policies that require paying out, that these reserves will satisfy.

他们想要确保,即使保险公司遇上严重事件,面临大量的保单赔付,他们仍然有充分能力,来应付这种状况,也就是说准备金必须足够多

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