保险业

Therefore, the insurance investment supervision system of China should consist of the principles of the insurance investment, the scope of the funds using to invest, the pluralistic investment means and the strict investment proportion, the classific management of the investment of the property insurance corporation and the life insurance corporation, and the organization construction of the insurance invest subject and the self management system of the insurance business institution.

我国保险投资监管法律制度应涵盖如下内容：保险投资的原则，可用于投资的资金范围，多元化的投资方式及严格的投资比例，产寿险公司投资分类管理，保险投资主体组织结构，保险业协会的自律管理，保险投资违法操作相关责任人的法律责任。

Subrogation is an archaic and unique system in insurance codices. Through the process of its emergence and the process of its development, so we can deepen our understanding about it.

代位追偿在保险业中是一种古老的制度，通过对它的产生及发展过程的分析，以此加深对代位追偿的理解。

This can ensure that during the application of CRM system in the insurance industry will achieve the marketing, sales, service, cooperations management platform; as well as achieving the all compassing management of clients, potential clients, partners, employees, products, and competitors.

这能令CRM系统在保险业的应用过程中，既实现了市场、销售、服务协同工作的管理平台；也通过管理客户、潜在客户、合作伙伴、员工、产品、竞争对手等实现业务工作的全面管理。

In aggregate, our smaller insurance operations produced an excellent underwriting profit in 2000 while generating significant float - just as they have done for more than a decade. If these companies were a single and separate operation, people would consider it an outstanding insurer. Because the companies instead reside in an enterprise as large as Berkshire, the world may not appreciate their accomplishments - but I sure do. Last year I thanked Rod Eldred, John Kizer, Don Towle and Don Wurster, and I again do so. In addition, we now also owe thanks to Tom Nerney at U.S. Liability and Michael Stearns, the new head of Cypress.

总的来说，其它规模较小的保险业务在2000年产生了可观的承保利益，同时一如过去十年来持续贡献大量的浮存金，如果把这些公司视为单一独立的企业，那么他们绝对可以称得上是一家经营绩效优异的保险公司，而因为这些事业隐身在Berkshire如此庞大的事业体中，外界无法理解他们的努力与成就，但至少我个人能够深深地体会地，去年我感谢过Rod、John、Don等人，今年则还要再加上美国责任险的Tom以及Cypress的新任主管Michael。

In aggregate, our smaller insurance operations produced an excellent underwriting profit in 2000 while generating significant float - just as they have done for more than a decade. If these companies were a single and separate operation, people would consider it an outstanding insurer.第 24 页共 56 页 www.buffettism.com 巴菲特研究中心 Research Centre for Buffettism Because the companies instead reside in an enterprise as large as Berkshire, the world may not appreciate their accomplishments - but I sure do. Last year I thanked Rod Eldred, John Kizer, Don Towle and Don Wurster, and I again do so. In addition, we now also owe thanks to Tom Nerney at U.S. Liability and Michael Stearns, the new head of Cypress.

总的来说，其它规模较小的保险业务在 2000 年产生了可观的承保利益，同时一如过去十年来持续贡献大量的浮存金，如果把这些公司视为单一独立的企业，那么他们绝对可以称得上是一家经营绩效优异的保险公司，而因为这些事业隐身在 Berkshire 如此庞大的事业体中，外界无法理解他们的努力与成就，但至少我个人能够深深地体会地，去年我感谢过 Rod，John，Don 等人，今年则还要再加上美国责任险的 Tom 以及 Cypress 的新任主管

As Dr. Brett writes, he underlying premise is that an identifiable set of American values point incontrovertibly to a health care system anchored by the private insurance industry....

正如 Dr。 Brett 所写，&他的相关前提是，一个被明确设定的美国价值观无疑是私人保险业对保健制度的束缚·····独裁的讨论，因为独一无二的美国个人主义，独一无二的美国解决问题的方式，或者从狭窄的定义角度又选择的告诉我们更多关于美国的政治经济利益&

The forms of insurance company, the classification of insurance,the exertion and regulation of insurance capital,the nullification systems of insurance contract,the limitations of right of insurance subrogation in the Chinese insurance law are existing bugs incorresponding to the international insurance laws and the universal regulations of WTO.

中国的保险法在保险公司的组织形式、保险的分类、保险业资金的运用及监管、保险合同的无效制度和保险代位权的适用范围等方面，存在着不合乎国际保险法律以及世贸组织通行规则的缺陷。

It is maybe a contribution to establish a general analysis framework for government to support a certain industry or ask for support from government. The most important scientific value is the last: the paper take the inframarginal economics as a core of its academic base, applying the theory of labor division, specialization and transaction cost to analyze the environment of insurance development.

这篇论文的学术价值还在于，它可以为一般的产业发展环境分析，提供一个可选的理论框架，特别是这篇论文将超边际经济学关于分工、专业化与交易费用的理论运用于保险业发展环境分析，可以为其他产业发展环境分析，提供一个有益的借鉴和参考。

Laudably, Mr Baucus has pursued a moderate course, rejecting a proposal for a government-run insurance scheme.

值得称赞的是，鲍卡斯，已经追求一个比较温和的过程，反对政府经营保险业的建议。

And thus I met Lorimer Davidson, Assistant to the President, who was later to become CEO. Though my only credentials were that I was a student of Graham's,"Davy" graciously spent four hours or so showering me with both kindness and instruction. No one has ever received a better half-day course in how the insurance industry functions nor in the factors that enable one company to excel over others. As Davy made clear, GEICO's method of selling - direct marketing - gave it an enormous cost advantage over competitors that sold through agents, a form of distribution so ingrained in the business of these insurers that it was impossible for them to give it up. After my session with Davy, I was more excited about GEICO than I have ever been about a stock.

就这样我遇到了当时还是副总裁的Lorimer Davidson，后来他成为GEICO的总裁，虽然我唯一的经历背景只是葛拉汉的一名学生，大卫还是很好心的花了四个小时左右的时间，好好地给我上了一课，我想大概没有人能够像我这样，可以幸运地接受如何经营保险业的半天课程，大卫很坦白地告诉我，GEICO的竞争优势在于-直接行销，这使得该公司相较于一般竞争同业必须透过传统的业务仲介的经营方式所负担的成本要低得许多，后者受限传统无法摆脱行之有年的行销网络，而在上过大卫的课之后，GEICO也成为我有生以来觉得最心动的一支股票。

I didn't watch TV last night, because it .

昨晚我没有看电视，因为电视机坏了。

Since this year, in a lot of villages of Beijing, TV of elevator liquid crystal was removed.

今年以来，在北京的很多小区里，电梯液晶电视被撤了下来。