1、The development,hundreds of years ago,of ship and cargo insurance was revolutionary.It marked the start of commercial insurance;protection against loss from fire and the perils of the high seas fostered global trade.But in the 21st century the value of companies consists less of solid objects,such as boats and buildings,than of intangible elements,such as intellectual property,data and reputation."Today the most valuable assets are more likely to be stored in the cloud than in a warehouse,"says Inga Beale,chief executive of Lloyd's of London.As the importance of intangibles has grown,so has companies'need to protect themselves against"intangible risks"of two types:damage to intangible assets(eg,reputational harm caused by a tweet or computer hack);or posed by them(say,physical damage or theft resulting from a cyberattack).Companies are not oblivious.Respondents to a survey last year by Aon,an insurance broker,ranked reputation as their top risk and cyber-risk as their fifth.But there is a big difference between how risk managers perceive such risks and how boards do.And if firms do seek insurance against some of these risks,insurers have not exactly been giving them too many novel products.Even when policies are labelled"innovative"it's usually to insure physical assets in the sharing economy rather than intangibles.But in a world where Airbnb,in effect the world's largest hotel chain,owns no hotels and Uber,its largest taxi firm,owns no cabs,such policies are of limited use.Those that do protect assets such as data,IP and reputation are often expensive and custom-made,and include strict exclusions and lrmits.Insurers'caution is understandable.Intangible risks are not only new and comple)c"They're a bit like not-yet-set jelly,"says Julia Graham of Airmic."Their shape constantly changes."Underwriters like to look at past data on events'frequency as well as clients'current exposure-which may be next to impossible when assessing the risk and impact of a cyberattack,or a scandal,which would have been very differently priced even a couple of years ago.But some underwriters are starting to come up with more suitable policies.One is parametric cover,which pays a fixed amount automatically after a defined event,such as a hack.The advantage of such policies is that they can provide cash quickly,meeting an immediate need after misfortune strikes.The downside is that these products tend to cover only a share of damages.Companies also have to do more to protect themselves.Just as insurance was only part of the answer to fire and maritime risk,it is only part of the answer to modern perils.Plenty of cyber-breaches could doubtless have been avoided if software had simply been kept up to date.Insurers need to catch up with the intangible age;but so do their clients. Which of the following can be learned from Paragraph 3?

　　A.Most risk managers are rather ignorant of intangible risks.

　　B.Corporate boards tend to rank reputation as their top risk.

　　C.Insurers are offering a variety of novel products to firms.

　　D.Insurance against intangible risks has lagged behinci their rise.

　　正确答案：D

　　 答案解析：第三段后半部分(And if firms.…)指出，保险公司并未提供太多新颖产品，且这些产品通常保护的是共享经济中实物资产.而非无形资产。在如今这样一个无形资产世界(如Airbnd，Uber)，这些保单作用有限。而真正保障无形资产的保单则不仅昂贵还附带种种限制。可见作者认为对抗无形风险的保险落后于风险的增长,D.正确。[解题技巧]A.、B.与第三段①②③句“风控经理(Respondents与risk mangers同指)高度重视无形风险;而董事会的认知却与此大为不同”错位。C.与④⑤句“当企业想对无形风险投保，却发现保险公司未向他们提供太多新颖产品;即便是被标记为‘创新，的保单，通常也并非是真正的创新产品”相悖。

　　2、The development,hundreds of years ago,of ship and cargo insurance was revolutionary.It marked the start of commercial insurance;protection against loss from fire and the perils of the high seas fostered global trade.But in the 21st century the value of companies consists less of solid objects,such as boats and buildings,than of intangible elements,such as intellectual property,data and reputation."Today the most valuable assets are more likely to be stored in the cloud than in a warehouse,"says Inga Beale,chief executive of Lloyd's of London.As the importance of intangibles has grown,so has companies'need to protect themselves against"intangible risks"of two types:damage to intangible assets(eg,reputational harm caused by a tweet or computer hack);or posed by them(say,physical damage or theft resulting from a cyberattack).Companies are not oblivious.Respondents to a survey last year by Aon,an insurance broker,ranked reputation as their top risk and cyber-risk as their fifth.But there is a big difference between how risk managers perceive such risks and how boards do.And if firms do seek insurance against some of these risks,insurers have not exactly been giving them too many novel products.Even when policies are labelled"innovative"it's usually to insure physical assets in the sharing economy rather than intangibles.But in a world where Airbnb,in effect the world's largest hotel chain,owns no hotels and Uber,its largest taxi firm,owns no cabs,such policies are of limited use.Those that do protect assets such as data,IP and reputation are often expensive and custom-made,and include strict exclusions and lrmits.Insurers'caution is understandable.Intangible risks are not only new and comple)c"They're a bit like not-yet-set jelly,"says Julia Graham of Airmic."Their shape constantly changes."Underwriters like to look at past data on events'frequency as well as clients'current exposure-which may be next to impossible when assessing the risk and impact of a cyberattack,or a scandal,which would have been very differently priced even a couple of years ago.But some underwriters are starting to come up with more suitable policies.One is parametric cover,which pays a fixed amount automatically after a defined event,such as a hack.The advantage of such policies is that they can provide cash quickly,meeting an immediate need after misfortune strikes.The downside is that these products tend to cover only a share of damages.Companies also have to do more to protect themselves.Just as insurance was only part of the answer to fire and maritime risk,it is only part of the answer to modern perils.Plenty of cyber-breaches could doubtless have been avoided if software had simply been kept up to date.Insurers need to catch up with the intangible age;but so do their clients. Which of the following is true about companies in the 21st century?

　　A.They have lost trust in commercial insurance.

　　B.They insure intangibie assels instead of solid ones.

　　C.Their value lies mainly in their intangible assets.

　　D.Their assets are more securely stored than before.

　　正确答案：C  

　　答案解析：首段③句指出，在21世纪，公司价值构成中的实体要素(如船只和建筑)少于无形要索(如知识产权和数据)。④句则进一步援引他人话语概括：如今企业最宝贵的资产更有可能被存放在云中(即无形资产).而非仓库里(即实体资产)。可见C.正确，intangible assets同义替换intangible elements.…inthc cloud.[解题技巧][人]错误理解第一段But体现的今昔变化：将“商业保险曾经就保护公司的(实体)资产发挥重要作用一但如今公司资产构成已经发生改变”误解为“商业保险曾经保护企业免受损失一但如今不再有此作用，失去公司信任”。B.利用第二段所述“公司客观需求——为无形资产投保的需求上升”干扰，但由此无法推知“公司实际做法——为无形资产投保，却不顾实物资产”。D.曲解第一段末句the most valuable.…be stored in.…than in.…：将其说明“公司最宝贵资产的性质——存在云中的无形资产”误解为“如今公司的资产存放方式更安全”。

　　3、The development,hundreds of years ago,of ship and cargo insurance was revolutionary.It marked the start of commercial insurance;protection against loss from fire and the perils of the high seas fostered global trade.But in the 21st century the value of companies consists less of solid objects,such as boats and buildings,than of intangible elements,such as intellectual property,data and reputation."Today the most valuable assets are more likely to be stored in the cloud than in a warehouse,"says Inga Beale,chief executive of Lloyd's of London.As the importance of intangibles has grown,so has companies'need to protect themselves against"intangible risks"of two types:damage to intangible assets(eg,reputational harm caused by a tweet or computer hack);or posed by them(say,physical damage or theft resulting from a cyberattack).Companies are not oblivious.Respondents to a survey last year by Aon,an insurance broker,ranked reputation as their top risk and cyber-risk as their fifth.But there is a big difference between how risk managers perceive such risks and how boards do.And if firms do seek insurance against some of these risks,insurers have not exactly been giving them too many novel products.Even when policies are labelled"innovative"it's usually to insure physical assets in the sharing economy rather than intangibles.But in a world where Airbnb,in effect the world's largest hotel chain,owns no hotels and Uber,its largest taxi firm,owns no cabs,such policies are of limited use.Those that do protect assets such as data,IP and reputation are often expensive and custom-made,and include strict exclusions and lrmits.Insurers'caution is understandable.Intangible risks are not only new and comple)c"They're a bit like not-yet-set jelly,"says Julia Graham of Airmic."Their shape constantly changes."Underwriters like to look at past data on events'frequency as well as clients'current exposure-which may be next to impossible when assessing the risk and impact of a cyberattack,or a scandal,which would have been very differently priced even a couple of years ago.But some underwriters are starting to come up with more suitable policies.One is parametric cover,which pays a fixed amount automatically after a defined event,such as a hack.The advantage of such policies is that they can provide cash quickly,meeting an immediate need after misfortune strikes.The downside is that these products tend to cover only a share of damages.Companies also have to do more to protect themselves.Just as insurance was only part of the answer to fire and maritime risk,it is only part of the answer to modern perils.Plenty of cyber-breaches could doubtless have been avoided if software had simply been kept up to date.Insurers need to catch up with the intangible age;but so do their clients. Which of the following would be the best title for the text?

　　A.The Business of Insuring Intangible Risks Is Still in Its Infancy

　　B.Product Innovation Extends the Reach of Commercial Insurances

　　C.Insurance:A Cure-all for Intangible Damages

　　D.Intangible Assets:Major Risks,Major Rewards

　　正确答案：A  

　　答案解析：文章前两段说明当今现象“随着企业无形资产比重增加，对该资产投保需求也在增加”。第三、四段指出问题“无形资产保险跟不上时代发展”并分析原因。第五、六段借“参数化保险的优缺点”说明“无形保险正起步发展”，并明确观点“企业和保险公司都应跟上时代步伐”。可见A.为全篇着眼点。[解题技巧]B.利用文中词汇revolutionary、novel products、innovative等形成干扰，但作者并非肯定”商业保险的产品创新、业务范围扩大”，而是与此相反、意在揭示问题“面对无形风险新问题，商业保险创新不够”。C.违背作者观点“保险不是全部答案，企业自身也应努力防范风险”。D.“无形资产风险较大、回报较大”为文中暗示信息，但文章主要关注的并非“无形资产的性质”、而是“对无形资产的保障”。

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