be taxable. Insurance companies have to invest the money they recieve from premiums. Like pension funds, they are large isitutional investors that invest huge sum in securites, especially low-risk government bonds. Lloyd´s of London- the largest insurance market in the world. This is an assiciation of people called underwriters. Underwriters- people who guarantee to indemnify other people´s possible losses. Lloyd´spreads (hajutavad) risks among a number of syndicates. 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 compensatsion , but they also have unlimited liability or responsibility for losses. Liability- kohustus. Reinsurance- company- this is a company that will recive some of premium and also bear or take some of the risk. If insurance companies connsider that they have underwritten too many
branded goods as well as seizing more than £3.5 million worth of counterfeit goods. The percentage of fake goods seized by customs because of safety concerns has doubled in recent years. In 2014 officers dismantled a major criminal enterprise that was suspected of importing and selling such counterfeit goods. The team seized a shipping container which contained more than 4,700 counterfeit items which included foundation, bronzer and lip gloss. Crime syndicates have also been caught manufacturing counterfeit sun cream. Their products typically contain little or no sun protection leaving users vulnerable to harmful UV rays which could lead to long-term skin damage. The creams also contain substances which cause skin irritation. New words: Counterfeit-unreal, pretendable Generic-general Vigorous- Growing or spreading rapidly Lethal-extremely harmful, causing death Enhance- to increase the value, attractiveness, or quality of
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