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用法学习: 1. Mudflats or mud flats 湿泥, 淤泥(There's no beach in the CBD, just mudflats and a man made lagoon.), also known as tidal flats, are coastal wetlands that form when mud is deposited by tides or rivers. They are found in sheltered areas such as bays, bayous, lagoons, and estuaries. Mudflats may be viewed geologically as exposed layers of bay mud, resulting from deposition of estuarine silts, clays and marine animal detritus. Most of the sediment within a mudflat is within the intertidal zone, and thus the flat is submerged 淹没 and exposed approximately twice daily. until/till all hours 到深夜, 到很晚 disapproving very late. until very late at night They were up talking until all hours. He ​stays up ​drinking until all ​hours. Plenty to do in the CBD! its open till all hours and if you get into trouble the hospital is right there!!! daybreak = break of day 拂晓. 天刚放亮, 第一缕曙光 the time when light first appears in the morning. the time in the morning when light first appears; dawn; sunrise. We'll leave at break of day, as soon as it's light. I feel as though I've been working since the break of day. The party went on until the break of day. Either get a tour or hire a car and head up to Cape Tribulation. It's a decent day trip, so I would recommend hiring the car the day before and hitting the road at day break. There are various things along the way to stop at. 2. "There's really deep sorrow and sadness 深深的悲哀和伤痛 and people are unable to rationalise what happened 不能接受所发生的一切 and find it really difficult to know what to do next apart from getting on with their lives," he said on Tuesday. Netfilix出手处理VPN用户: Netflix recently announced plans to crack down on unscrupulous viewers using virtual private networks (VPNs) and proxies to watch restricted foreign content. However, that appears to be easier said than done. In the days following an official blog post from the streaming company, several experts and tech journalists have cast doubt on its lofty claim (lofty [ˈlɒft] I. a lofty building or structure is very tall. high, tall, having great height or stature. a lofty bed. The town hall's lofty tower dates from the fourteenth century. II. lofty aims or principles 过于理想化的, 远大宏伟的 deserve to be admired because they are based on high moral standards. idealistic, implying over-optimism. a lofty goal. Few people can meet his lofty standards. lofty ideals/ambitions. III. someone who has a lofty manner or attitude behaves in a way that shows they think they are better than other people. extremely proud; arrogant; haughty.). 3. 驻美大使接受采访: Mr Beazley also missed Malcolm Turnbull's recent ousting of former prime minister Tony Abbott in September last year. When asked if it became "embarrassing" to explain Australia's high turnover of 换的太勤, 走马灯似的换 leaders, he said Americans find it "bemusing" ( bemused [bɪˈmjuzd] confused My father looked slightly bemused. They exchanged bemused glances. ). implode [ɪmˈploud] I. [intransitive/transitive] to break up violently and fall inward, or make something do this. an internal vacuum that caused the vessel to implode. II. [intransitive] if something such as an organization or an economic system implodes, it is completely destroyed by things that are happening within it. 用例: Richardson's five-for ensures the home team goes into the final match with a clean slate: India will wonder how this one got away. Having for the longest time looked like chasing down a skyscraper of a total at the Manuka Oval, the visiting side imploded 自残, 不战自败, 内爆 in spectacular fashion to sink to a 25-run defeat to Australia here on Wednesday. All that good work所有这些辛苦, though, was undone 毁于一旦 in one chaotic hour混乱的一小时. Dhawan fell in the 38th over to John Hastings and was followed three balls later by M.S. Dhoni, caught behind. Virat Kohli perished seven balls afterwards — at the hands of Kane Richardson — and with him a big portion of India's hopes. The tragedy of it all though was that India had begun resoundingly well ( resounding [rɪˈzaundɪŋ] I. complete: used for emphasizing how successful or unsuccessful someone or something is. a resounding success/victory/defeat完胜. 完败. II. 有回声的, 有回响的. 余音绕梁的. 绕耳不绝的. 经久不息的. a resounding sound is very loud and continues for a long time. a resounding burst of applause. resound  [rɪˈzaund] to produce or be filled with a loud sound that continues for a long time. ), Rohit Sharma scoring a 25-ball-41 and giving his side the sort of high-octane start ( high-octane I. high-octane gas makes the engine of a vehicle work very well and quietly. Denoting petrol having a high octane number and thus good anti-knock properties. II. mainly journalism 强有力的. 强势的. powerful or dynamic. exciting and full of energy. The critics were impressed by Springsteen’s high-octane performance. "a high-octane forty-year-old". ) it had missed. His exit united Dhawan and Kohli, and as long as the two were at the crease, it seemed India would sail home without any concerns. Dhawan batted with greater boldness and intent than he had shown at the MCG. Early in his innings, he stepped down the pitch to John Hastings, carving him over point with both feet off the ground. The English umpire Richard Kettleborough had to be replaced during the match after suffering an injury. Kettleborough was struck on the shin by a straight drive from Aaron Finch, via a deflection 反弹 off bowler Ishant Sharma's fingertips. He was replaced by the TV umpire Paul Wilson. Kettleborough received treatment for a swelling and a numb foot and did not return for the rest of the day. Meanwhile, umpire John Ward, hospitalised after being hit on his head during an assignment in India, wore a helmet.

 蜜月梦魇- 拒绝承认婚姻关系: Every decision Marco wanted to make, from whether David should be cremated to what coffin to use, had to be rubber-stamped by his late husband's father, Nigel Bulmer, back in the UK. While Mr Bulmer backed his son-in-law and explained they were married, the authorities refused to budge. Marco's treatment has riled 触怒, 激怒 LGBTI advocates, who say his case shows why marriage equality is needed now. South Australian Greens senator and marriage equality spokesman Robert Simms said he would raise the widow's plight in Parliament. He has also called on Foreign Minister Julie Bishop to provide him with support. "He has been treated in a degrading 耻辱的, 侮辱人的 and dehumanizing 非人道的, 不人道的 way and I'm horrified about his experience," Mr Simms said. "It's very disappointing and particularly when you consider South Australia led the way 领先, 领头, 率先 when it came to the decriminalization of homosexuality but now the state Labor government is asleep at the wheel( asleep at the wheel/switch 原地踏步, 睡大头觉, 不作为, 占着茅坑不拉屎 not paying attention. Why was our government asleep at the wheel when the crisis began? Etymology: based on the literal meaning of asleep at the wheel (sleeping while driving a vehicle). )." "This is a person who is grieving with the loss of their partner and all of this is completely unnecessary." "Most South Australians would find it appalling that our law has failed to recognize the love and commitment in David and Marco's relationship. It's time for us to join Tasmania, Victoria, NSW and Queensland in recognizing overseas same-sex marriages." "We will introduce a further raft of legislation to the Parliament this year that will grapple with the more complex issues ( grapple with something 挣扎于 Fig. to deal with a problem; to get a "good hold" on a problem. To be engaged with the complications or problems presented by something; struggle with: Some parts of the world are grappling with overpopulation. I have enough to grapple with now. No more problems, please. I cannot grapple with any additional problems. ) such as this," he said. Asked if he had a message for the state and federal government, he told news.com.au: "I appreciate ( I. 了解. 理解. 明白. to understand the true nature of a situation, and realize why it is important or serious. I began to appreciate the difficulties my father had faced. appreciate how/why/what etc: Doctors are only now beginning to appreciate how dangerous this drug can be. appreciate that: We appreciate that you cannot make a decision immediately. fully appreciate: I don't believe the Prime Minister fully appreciates the complexity of the problem. II. [never progressive] 认同. 感激不尽. 感恩. to recognize the good or special qualities of a person, place, or thing. She feels that he r family doesn't really appreciate her. a restaurant that is popular with people who appreciate good service and fine wines. a. to realize that someone has good qualities and that they are important. be truly/properly appreciated: Many of the junior staff feel they are not properly apprecited. III.  to be grateful for something. I appreciate this opportunity to put my point of view to the committee. I really appreciate all your help. IV. [intransitive] if something appreciates, its value increases gradually. I/we etc would appreciate it if... 感激不尽 used for politely asking someone to do something, especially when you are slightly annoyed. We'd appreciate it if you didn't smoke in here. so love/enjoy/appreciate etc: She so loved watching the children play. appreciate/grasp the significance of something: Few observers appreciated the immense political significance of this development.) Australia has to go through its own process but I'm just asking to be treated with dignity and for some compassion. My entire life was denied in front of me because being married to David was my life."

 Etihad Etihad unveils new livery and brand image on Boeing 787, Airbus A380: livery I. a special old-fashioned type of uniform that some people wear for their job, usually a job that involves serving people. II. 涂装. British the colours and designs that a company uses on its products or on vehicles that belong to the company. Beginning with the Airbus A380s and Boeing 787-9s, Etihad Airways introduced a new livery, which will be rolled out to the rest of the fleet over the next three years from 2014-2017. The new livery is called "Facets of Abu Dhabi", which reflects the culture and geography of Abu Dhabi. One Boeing 777 (registry A6-LRE) used for their Los Angeles-Abu Dhabi route has been painted with the livery for the film Fast and Furious 7. This rendering of a skyborne 787 provides a better glimpse of the asymmetrical livery from tip to tail, including some of the darker sections at the rear underbelly. The elegant yet eye-catching livery will be applied across all of Etihad's fleet over the next three years. Dubbed 'Facets of Abu Dhabi', it combines a colour palette representing the desert landscapes of the UAE with geometric patterns and shapes which take their inspiration from Abu Dhabi's modern architecture. Just like Etihad's new cabins and interiors, it's a contemporary design which you'd expect more from a chic boutique hotel than an airline. Etihad CEO James Hogan describes the new look as "a real divergence 标新立异, 迥异于 from the norms of traditional airline livery design". This modern make-over also picks up key colours – including copper, caramel, slate, sand and cream –  featured in the UAE emblem of Etihad's current livery, as seen below in this early A380 promotional photo. A door and passageway separate the living room from the master bedroom and the ensuite shower room. The bedroom features a Poltrona Frau upholstered 82 inch long double bed with custom-made mattress, bedside unit, wardrobe, and under-bed stowage for hand luggage. The first of its kind for the superjumbo, Etihad raises the bar in tough competition for well-heeled 富裕的, 阔绰的 travellers. Adding to the home design touches, the First Apartment includes a chilled 冰镇的 mini-bar, personal wardrobe and a separate vanity unit with lit make-up mirrors and stocked with luxury branded amenities. Taking design cues from the best boutique hotels, the First Apartments across the cabin have three separate but complementary colour palettes - chocolate, cashmere and coffee – each with its own accent colour. First Apartment guests have an exclusive shower room, and six apartments have connecting doors for passengers travelling together. If for some reason you want to leave that plush suite, you can head to The Lobby bar. Etihad Airways, the national airline of the United Arab Emirates (UAE), today unveiled a stunning new livery design which will be introduced across its fleet. The result is a striking and unique livery design which will present Etihad Airways as the airline of a progressive and innovative cultural hub, firmly rooted in its rich history. The new livery was unveiled as Etihad Airways' first A380 rolled-out of the paint hangar at the Airbus Finkenwerder facility in Hamburg, Germany. "The striking new livery also continues our commitment to breaking from convention 打破传统, 打破惯例 and doing things differently. This is a real divergence from the norms of traditional airline livery design and will stand out in the sky and at every airport we fly to." The UAE national emblem is given prominence along the fuselage ([ˈfjuzəˌlɑʒ] 机体. the main part of an aircraft that the wings are fixed to.) next to the Etihad name and the national flag is respectfully featured forward near the cockpit.

 Tony Abbott's Plan To Return Reliant Mainly On Hell Freezing Over. when/until Hell freezes over 这辈子别想了, 永远不可能 (idiomatic) never; not in this lifetime or a time in the unforeseeably distant future; not a chance. "Will you go out with him?" "When Hell freezes over!" "When will the sun shine in Dunedin?" "When Hell freezes over!". a cold day in Hell (idiomatic, slang) The time of occurrence of an event that will never happen. It'll be a cold day in hell when that happens. when pigs fly (idiomatic) never. Etymology: This phrase is used presumably due to the unlikelihood that pigs will ever evolve wings. a snowball's chance in hell ‎(idiomatic, slang) Little or no likelihood of occurrence or success. That small boat has a snowball's chance in hell of surviving the hurricane. Usage notes: Often, the expression is used in the negative for even more emphasis (implying that the referent has even less chance of success than a snowball in hell). That small boat doesn't have a snowball's chance in hell of surviving the hurricane. once in a blue moon (idiomatic) Very rarely; very infrequently. Former Prime Minister Tony Abbott has revealed that he is considering contesting this year's federal election in the hopes that he is able to once again achieve the position of Prime Minister just a short time after hell itself freezes over. While Abbott has refused to comment on the rumours, insiders have reported he still wants the top job and has a long-term plan to retake the office of Prime Minister that he believes is highly likely provided he can get access to one of those memory-wiping devices 擦出记忆 from the film Men In Black. "He hasn't given up," said one insider. "And so he shouldn't. There are still a lot of options remaining for the former Prime Minister. He's a clever schemer. He knows that right now might not be the best time for him but someday the tide will turn 形势会变 and he'll no longer be public enemy number one 一号公敌 but instead just some jerk that we half remember for being pretty bad. "Political comebacks happen all the time. Sure, this would be a particularly impressive one but it's not like it's impossible. He's got plenty of ideas for winning over the public. Sure, none of them worked when it was literally his job to win over the public but still, he'll try. "You have to understand he operates within a party system. All he would need is the like .. three people who stayed loyal to him to continue on. That's already a foothold ( I. a small hole, crack, or lump on a surface where you can put your foot to support yourself when climbing. II. 立足点. 立脚点. a position from which you can improve your status or become more successful in an organization, profession, or market. gain/get/establish a foothold: They have managed to gain a foothold in the South American market.). From there all he has to hope for is some kind of King Ralph situation where everyone ahead of him 排在前边的 is suddenly unable to fulfil their duties. Then he'd just have to change the constitution so there were no more elections. That would guarantee him power for a little bit. "And it's not like he couldn't win an election. Maybe not in his current form but we shouldn't be so quick to rule out the possibility of extensive surgery to mask the former Prime Minister's identity. Sure, it's unlikely that anyone would vote for Tony Abbott again but who knows who might vote for Scotty Blabbit. That guy seems fresh and has some great ideas. We could Mrs. Doubtfire this whole election. It'd be great. "I think deep down the public is hungry for a return of Tony Abbott. Things were just more fun when he was around. It was a much more interesting game of 'What's old mate going to do today to offend the world?'. This current chap is far too boring. The only entertainment we get now is a betting pool on how many times he'll say 'agile' per day. We've even left raw vegetables out to see if we can bait him into something interesting but on the rare occasion that he does take them he cooks them before eating, the coward." It's not all doom and gloom for Abbott's chance, however, with insider sources revealing he has had some unexpected help from across the aisle. "It's not like he'll be going it alone, either. We've received an unprecedented amount of support from the Opposition Leader. It seems as if he's absolutely desperate to see Mr. Abbott return to power. It's pretty upsetting, really. He's being kind of needy about it. He keeps calling every day asking if it's time to launch another spill yet. I've told him he needs to get a hobby but he just keeps saying that this is his hobby."

Taylor Swift and best friend Selena Gomez go make-up free and sport tousled ( tousle [ˈtauz(ə)l] 乱乱的. to make someone's hair look untidy.) hair as they head to the gym together: The pair continued to hone their physiques and were pictured leaving Body By Simone after working up a sweat. Taylor, 26, showed off her flawless complexion as she forwent the make-up and pulled her fair locks into a tousled ponytail. Despite forgoing eye make-up and foundation, she was still wearing her signature red lipstick. While the Blank Space hitmaker covered up in a black hoodie, Selena, 23, braved the chilly weather wearing a skimpy hot pink sports bra and funky patterned leggings. Taylor added an expensive touch to her look with a stylish Prada handbag hanging casually on her right arm. The ladies also hung out over the weekend and Selena shared a cute photo of the pals hiding in some bushes, which she captioned: 'Are we in the clear yet?' The two songstresses could be seen peering out from the foliage ( [ˈfouliɪdʒ] 树丛 the leaves of a plant or tree. red flowers and dark green foliage. ) giggling in the silly snap. Selena had rumour mills in overdrive last week as was spotted enjoying some one-on-one time with model and fashion executive Samuel Krost. And on Thursday they reportedly 'packed on the PDA' at 1Oak nightclub in West Hollywood.

 underwritting: 1. underwrite I. [with object] Sign and accept liability under (an insurance policy), thus guaranteeing payment in case loss or damage occurs: the policy, underwritten at Lloyd's, indemnifies trustees against loss arising from wrongful acts. (as noun underwriting) the individuals whose assets support underwriting at Lloyd's. a. Accept (a liability or risk) under the terms of an insurance policy: the insurance companies have underwritten just over half the risk. II. (Of a bank or other financial institution) engage to buy all the unsold shares in (an issue of new shares): the purchase is being paid for by a share issue, which has been underwritten. a. Undertake to finance or otherwise support or guarantee (something): they were willing to underwrite, in part, the construction of a ship. III. to invest money to help someone to start a new project. We are looking for someone to underwrite our new stadium. 2. indemnify [ɪnˈdemnɪˌfaɪ] I. 投保. To secure against loss or damage; to insure. to provide someone with insurance or protection against injury or loss. II. (chiefly law) 可保险报销的. 可保险支付的. To compensate or reimburse someone for some expense or injury. to make a payment to someone who has suffered injury or loss. indemnify someone or something against something to agree to protect someone or something against something, such as damage or a lawsuit. Their employer indemnified them against legal action. We indemnified the publisher against legal trouble. indemnifiable Something suitable for indemnification. Non-Indemnifiable Loss. double indemnity a section in a life insurance agreement that says the insurance company will pay double the amount of money if the person who bought the insurance dies in an accident rather than because of illness or old age. Contrary to the predictions at the time, there have not been as many claims against directors in England & Wales since the introduction of the Companies Act 2006 and following on from the financial downturn. However, D&O insurance is an important asset to companies and directors operating in England & Wales, and experience suggests that the most used aspect of cover is the indemnification of costs incurred in regulatory and other formal investigations. 3. 报税相关: Working or operating expenses you incur in the everyday running of your business – such as office stationery, renting office premises, and salaries or wages – are called revenue expenses. You can generally claim a deduction for most revenue expenses in the same income year you incur them. You can deduct travel expenses you incur while away from home overnight for work, including meals, accommodation, and incidental expenses. In most cases, unless your work-related travel involves an overnight stay, you cannot claim meal expenses, even if your employer provides you with a travel allowance. claim back 报销回来(claimable): to say that you want someone to give something, often money you have paid, back to you. Ask for money that one has paid to be returned in accordance with the law or one's rights: you may be able to claim something back from the taxman. You can claim back the tax on these items. Allowable 允许的, 准许的 deductions减税: Most expenses you incur in running your business are tax deductible 可报税的, 可退税的, 减税的. You claim these deductions in the annual tax return for your business or, if you're a sole trader, in your personal tax return. What you can claim: You can only claim expenses that are directly related to earning your assessable income. If you make a purchase or use an asset for both business and private purposes, you can only claim a deduction for the business portion of the expense. If you use an item in your business for only part of a year, you may need to restrict your claim to the period it was used for the business. What you cannot claim: You can't claim a deduction for the goods and services tax (GST) component of a purchase if you can claim it as a GST credit on your business activity statement. You also can't claim: private or domestic expenses, such as childcare fees or clothes for your family; expenses relating to income that is not taxable, such as money you earn from a hobby; expenses that are specifically non-deductible, such as entertainment and parking fines. claimant: someone who makes an official request for money from a government, insurance company, etc. claimants of disability benefits. 退税相关(VAT refund. refundable可退税的): Proof of purchase of goods from the Retailer – you must first show the sales receipts at the Travelex bureau when making a VAT refund claim. A VAT Refund form from the Retailer – this must be completed and signed by the retailer in order to be valid. In the United Kingdom, Value Added Tax (VAT) is charged on many goods and services. As an overseas visitor you may be entitled to a refund of the VAT on some of the goods you buy from Retailers who are part of the Retail Export Scheme. You must export them by the last day of the third month following that in which the goods were purchased. The Tourist Refund Scheme (TRS) lets you claim a refund of the Goods and Services Tax (GST) and Wine Equalisation Tax (WET) that you pay on certain goods you buy in Australia and then take out of Australia with you or in your checked luggage or carry-on bags. 4. An underwriter (做风险评估, 并决定保费的公司) is a company or other entity that administers the public issuance and distribution of securities from a corporation or other issuing body. In insurance, underwriting is to sign and accept liability and guaranteeing payment in case loss or damage occurs. Underwriting is provided by a large financial service provider such as a bank, insurer or investment house. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose. 5. 证券业的underwriting: Securities underwriting refers to the process by which investment banks raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt capital). The services of an underwriter are typically used during a public offering. This is a way of distributing a newly issued security, such as stocks or bonds, to investors. A syndicate of banks (the lead managers) underwrites the transaction, which means they have taken on the risk of distributing the securities. Should they not be able to find enough investors, they will have to hold some securities themselves. Underwriters make their income from the price difference (the "underwriting spread") between the price they pay the issuer and what they collect from investors or from broker-dealers who buy portions of the offering. Risk, exclusivity, and reward: Once the underwriting agreement is struck, the underwriter bears the risk of being unable to sell the underlying securities, and the cost of holding them on its books until such time in the future that they may be favorably sold. If the instrument is desirable, the underwriter and the securities issuer may choose to enter into an exclusivity agreement. In exchange for a higher price paid upfront to the issuer, or other favorable terms, the issuer may agree to make the underwriter the exclusive agent for the initial sale of the securities instrument. That is, even though third-party buyers might approach the issuer directly to buy, the issuer agrees to sell exclusively through the underwriter. In summary, the securities issuer gets cash up front, access to the contacts and sales channels of the underwriter, and is insulated from the market risk of being unable to sell the securities at a good price. The underwriter gets a profit from the markup, plus possibly an exclusive sales agreement. Also if the securities are priced significantly below market price (as is often the custom), the underwriter also curries favor with powerful end customers by granting them an immediate profit (see flipping), perhaps in a quid pro quo. This practice, which is typically justified as the reward for the underwriter for taking on the market risk, is occasionally criticized as unethical, such as the allegations that Frank Quattrone acted improperly in doling out hot IPO stock during the dot com bubble. 6. 银行业underwriting: Bank underwriting: In banking, underwriting is the detailed credit analysis preceding the granting of a loan, based on credit information furnished by the borrower; such underwriting falls into several areas: (a) Consumer loan underwriting includes the verification of such items as employment history, salary and financial statements; publicly available information, such as the borrower's credit history, which is detailed in a credit report; and the lender's evaluation of the borrower's credit needs and ability to pay. Examples include mortgage underwriting. (b) Commercial (or business) underwriting consists of the evaluation of financial information provided by small businesses including analysis of the business balance sheet including tangible net worth, the ratio of debt to worth (leverage) and available liquidity (current ratio). Analysis of the income statement typically includes revenue trends, gross margin, profitability, and debt service coverage. Underwriting can also refer to the purchase of corporate bonds, commercial paper, government securities, municipal general-obligation bonds by a commercial bank or dealer bank for its own account or for resale to investors. Bank underwriting of corporate securities is carried out through separate holding-company affiliates, called securities affiliates or Section 20 affiliates. 7. 保险业Insurance underwriting: Insurance underwriters evaluate the risk and exposures of potential clients. They decide how much coverage the client should receive, how much they should pay for it, or whether even to accept the risk and insure them. Underwriting involves measuring risk exposure and determining the premium that needs to be charged to insure that risk. The function of the underwriter is to protect the company's book of business from risks that they feel will make a loss and issue insurance policies at a premium that is commensurate with ( [kəˈmenʃərət] 相一致的, 相匹配的. intended to be suitable for the quality, status, or value of someone or something. a pay increase commensurate with job performance. ) the exposure presented by a risk. Each insurance company has its own set of underwriting guidelines to help the underwriter determine whether or not the company should accept the risk. The information used to evaluate the risk of an applicant for insurance will depend on the type of coverage involved. For example, in underwriting automobile coverage, an individual's driving record is critical. However, the type of automobile is actually far more critical. As part of the underwriting process for life or health insurance, medical underwriting may be used to examine the applicant's health status (other factors may be considered as well, such as age & occupation). The factors that insurers use to classify risks are generally objective, clearly related to the likely cost of providing coverage, practical to administer, consistent with applicable law, and designed to protect the long-term viability of the insurance program. The underwriters may decline the risk or may provide a quotation in which the premiums have been loaded (including the amount needed to generate a profit, in addition to covering expenses ) or in which various exclusions have been stipulated, which restrict the circumstances under which a claim would be paid. Depending on the type of insurance product (line of business), insurance companies use automated underwriting systems to encode these rules, and reduce the amount of manual work in processing quotations and policy issuance. This is especially the case for certain simpler life or personal lines (auto, homeowners) insurance. Some insurance companies, however, rely on agents to underwrite for them. This arrangement allows an insurer to operate in a market closer to its clients without having to establish a physical presence. Two major categories of exclusion in insurance underwriting are moral hazard and correlated losses. With a moral hazard, the consequences of the customer's actions are insured, making the customer more likely to take costly actions. For example, bedbugs are typically excluded from homeowners' insurance to avoid paying for the consequence of recklessly bringing in a used mattress. Insured events are generally those outside the control of the customer, for example (typical in life insurance) death by automobile accident, contrasted with death by suicide. Correlated losses are those that can affect a large number of customers at the same time, thus potentially bankrupting the insurance company. This is why typical homeowner's policies cover damage from fire or falling trees (usually affecting an individual house), but not floods or earthquakes (which affect many houses at the same time). 8. 用例: From 10 November 2007, CommInsure will underwrite its own car insurance for the first time. Simon Swanson, Managing Director of CommInsure, said that the decision to become an underwriter was based on the premise that CommInsure would be able to provide a better product and better service for customers. "We're serious about growing our business, remaining competitive and continuing to improve our customer service. "Underwriting our own car insurance means we have more control over what features and benefits are included in our policies. Customers can add optional features to a policy for an additional premium or remove them to reduce the premium. This ensures both choice and flexibility," said Mr Swanson. CommInsure previously offered customers a product underwritten by Allianz which was sold under the CommInsure brand name. Under the new arrangement, Lumley General Insurance will manage the claims process on behalf of CommInsure. Underwriting car insurance now gives CommInsure control over what premiums are charged. "Underwriting ourselves gives us the flexibility to ensure our pricing is in-line with our customer profiles and overall claims experience," said Mr Swanson. In designing its new car insurance product, CommInsure has taken into account the current features and benefits offered by all major market players. Some additional key features of CommInsure's new product are Accidental Death Benefit of $5,000, and up to 70% no claim discount. Customers will also benefit from the use of the Commonwealth Bank's extensive branch network, phone and internet access to purchase their car insurance. "We've listened to our customers, and understand their need for a convenient and accessible way to purchase insurance. Access to car insurance via the extensive Commonwealth Bank network makes it very convenient for customers, particularly those in regional areas," said Mr Swanson. "Now that we are underwriting car insurance, we can continue to refine and improve it based on the needs of our customers. This ensures our customers will always have access to a competitive car insurance product that gives them choice and flexibility," concluded Mr Swanson.