scholarly journals Insurer’s Duty to Obtain Information under the IDD Directive – Threat or Opportunity?

2020 ◽  
Vol 29 ◽  
pp. 23-33
Author(s):  
Olli Norros
Keyword(s):  
Downside Risk ◽  
Legal Systems ◽  
Comprehensive Information ◽  
National Jurisdiction ◽  
Scope Of Application ◽  
Upside Risk

Enacting Directive 2016/97, on insurance distribution (the IDD), has, inter alia, extended the scope of application of regulation, increased the requirements for expertise of the personnel of insurers and insurance intermediaries, and particularised the content of the duty to give information. One of the novelties in the IDD, with regard to the insurer’s duty to provide information, is the duty of the insurer to obtain information from the customer for enabling fulfilment of its own duty to give information. Before the IDD, the balance between the insurer’s duty to give information and the customer’s duty to become acquainted with the information received was customarily understood in many legal systems such that the insurer is obligated to supply comprehensive information on its insurance products in an understandable form while the customer bears the risk of selecting correct and sufficient insurance in reliance on the information received. In other words, the insurer is liable in respect of the information as such, but the customers accept a risk of applying the information incorrectly in their specific circumstances. This background gives rise to the following questions, examined in the article: 1) What is the legislative background of the new duty to obtain information, and what are the objectives behind it? 2) What are the consequences of neglecting this duty? 3) What is the ‘upside risk’ of the reform? That is, in what kinds of cases could the new duty improve matters? 4) What is the ‘downside risk’? In other words, might the new duty cause any problems? The article provides analysis focused on the IDD itself rather than on any national jurisdiction in which the directive has been implemented.

Internal Control Quality and Bank Risk-Taking and Performance

2020 ◽  
Author(s):  
Matthew Baugh ◽  
Matthew Ege ◽  
Christopher G. Yust
Keyword(s):  
Internal Control ◽  
Risk Taking ◽  
Downside Risk ◽  
Internal Controls ◽  
Bank Risk ◽  
Material Weakness ◽  
Control Quality ◽  
Interest Income ◽  
Upside Risk ◽  
And Performance

Using a sample of bank-years from 2005 to 2017, we examine the effect of internal control quality on future risk-taking and performance. We find that banks that disclose a material weakness in internal controls have higher risk-taking and worse performance in the future, including having a higher (lower) likelihood of experiencing large losses (gains). These findings suggest that weak controls increase (reduce) downside (upside) risk-taking or conversely that strong controls increase (reduce) upside (downside) risk-taking. Path analyses suggest that 22.3 to 43.7 percent of the effect of internal control quality on future performance is through risk-taking. Additionally, material weaknesses are negatively associated with total asset, loan, interest income, and non-interest income growth, suggesting that internal control quality affects both core and non-core activities of banks. Overall, results suggest that strong internal controls improve bank risk-taking, in part through asymmetrically reducing downside risk-taking while facilitating upside risk-taking, ultimately improving bank performance.

Kofin Al Midat S'dom: Jewish Law's Concept of Abuse of Rights

1980 ◽  
Vol 15 (1) ◽  
pp. 49-78 ◽  
Author(s):  
Shmuel Shilo
Keyword(s):  
Legal System ◽  
Jewish Law ◽  
Legal Systems ◽  
Legal Rules ◽  
The Right To Privacy ◽  
System A ◽  
Legal Principle ◽  
Scope Of Application ◽  
The Right ◽  
Made In

The Jewish legal system's concept ofKofin al midat S'dom(kofin, in this essay) is a rule of equity whose scope of application is almost without parallel in other legal systems. Strict translation of this phrase, which is “one is compelled not to act in the manner of Sodom” is not very helpful. The rule is interpreted to mean that if A has a legal right and the infringement of such right by B will cause no loss to A but will remove some harm from, or bring a benefit to B, then the infringement of A's right will be allowed. Such a concept at once brings to mind the modern view concerning abuse of rights. There is, in fact, much in common between the two principles but they are certainly not the same. According to one legal system a certain given fact situation can have the legal principle of abuse of rights applied to it, while in another legal system a different rule of law would be resorted to. To illustrate: In certain jurisdictions the right to privacy is based on the concept of abuse of rights, while in others, as is the case in Jewish law, such a right is independent of the equivalent abuse of rights—kofin. So with other rights such as the right to light or unfair trade competition. An attempt will be made in this essay to show the range and the limits of thekofinprinciple. We will discuss those problems which are dealt with within the framework ofkofineven if their non-Jewish parallel is one which is far from the concept of abuse of rights. Conversely, we will not examine those questions which, in other legal systems, fall within the ambit of abuse of rights but are not looked upon, in Jewish law, as problems to which the rule ofkofinis to be applied, since they have been solved by other legal rules.

scholarly journals Problems of criminal legal forecasting of individual criminal behavior

2020 ◽  
Vol 4 (2) ◽  
pp. 99-108
Author(s):  
Mikhail P. Kleymenov
Keyword(s):  
Criminal Law ◽  
Criminal Behavior ◽  
Criminal Responsibility ◽  
Legal Aspect ◽  
Psychological Research ◽  
Legal Risk ◽  
Comprehensive Information ◽  
Expert Assessments ◽  
Scope Of Application ◽  
The Subject

The subject of the article is the problem of typical assessments of criminal legal risk by offenders. The purpose of the article is to confirm or refute the hypothesis that the attitude of various persons to the possibility of being punished for violating a criminal prohibition can be typologized, and the probability of being punished depends on the criminal's belonging to the corresponding type. The methodology includes dialectical, comparative legal, sociological, statistical, psychological methods, expert assessments, generalizing indicators. The main results, scope of application. The original criminal-legal aspect of predicting individual criminal behavior consists primarily in determining the probability of a potential criminal being brought to criminal responsibility for a possible offense and being punished. Foresight in this case is individual in the literal sense of the word – its subject is primarily a person who is inclined to commit a crime. The position of the researcher of criminal law forecasting of individual criminal behavior, who is obliged to put himself "in the place" of a socially dangerous person, to understand the nature and process of risk assessment, and to be brought to criminal responsibility, is also original. The attitude of different persons to the possibility of being brought to justice for violating a criminal law prohibition may vary widely, acquire a different character, and have specific features. In this regard, theoretically, we can distinguish the following groups of criminal risk: out of risk (“above the law”); habitual risk; "justified" risk; frivolous risk; emotional risk; situational risk; professional risk. The validity of this typology is confirmed by both empirical experience and materials of criminal-legal and psychological research. Conclusion. The magnitude of the criminal legal risk, of course, should be taken into account in the criminal law policy: both when assessing its purposefulness and effectiveness, and when solving the task of a comprehensive information and analytical support for it.

A Study of Risk Spillover in the Crude Oil and the Natural Gas Markets

2017 ◽  
Vol 18 (6) ◽  
pp. 1465-1477 ◽  
Author(s):  
Dilip Kumar
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Value At Risk ◽  
Spillover Effects ◽  
Downside Risk ◽  
Natural Gas Markets ◽  
Oil Markets ◽  
Gas Markets ◽  
Gas Market ◽  
Upside Risk

This article examines the upside and downside risk spillover effects among crude oil (WTI and Brent) and Henry Hub natural gas markets. We consider value-at-risk (VaR) as a measure of risk and model both upside and downside 95 per cent, 99 per cent and 99.5 per cent VaR using various VaR approaches. The VaR models are evaluated using Christoffersen’s (1998) conditional coverage test and Lopez’s loss function approach to select the best-performing VaR model. Finally, we apply Hong, Liu and Wang’s (2009) approach to examine the upside and the downside risk spillover among crude oil and Henry Hub natural gas markets. We find significant two-way as well as one-way upside and downside risk spillover between WTI and Brent crude oil. Our results provide weak evidence of upside risk spillover from natural gas market to crude oil markets for 99.5 per cent VaR.

Ch.3 Validity, s.1: General provisions, Art.3.1.1

2015 ◽  
Author(s):  
Huber Peter
Keyword(s):  
Legal Systems ◽  
Scope Of Application

This commentary focuses on Article 3.1.1 concerning the scope of application of the rules on validity in Chapter 3 of the UNIDROIT Principles of International Commercial Contracts (PICC). The PICC do not deal with invalidity arising from lack of capacity. The Official Comment states that the reason for the exclusion of capacity matters lies in their ‘inherent complexity’ and in the fact that they are treated in an ‘extremely diverse manner’ by domestic legal systems. The provision has been changed in the 2010 edition of the PICC. Ar 3.1 of the 2004 edition had also excluded invalidity arising from immorality or illegality from the scope of the PICC. These matters are now governed in Section 3.3 of the 2010 edition.

Modern TEM systems architecture

1986 ◽  
Vol 44 ◽  
pp. 602-605
Author(s):  
U. Gross ◽  
P. Hagemann
Keyword(s):  
Electron Microscope ◽  
Information Gathering ◽  
Systems Architecture ◽  
Control Functions ◽  
Transmission Electron ◽  
New Information ◽  
Comprehensive Information ◽  
Scanning Transmission ◽  
Diffraction Patterns ◽  
Analytical Equipment

By addition of analytical equipment, scanning transmission accessories and data processing equipment the basic transmission electron microscope (TEM) has evolved into a comprehensive information gathering system. This extension has led to increased complexity of the instrument as compared with the straightforward imaging microscope, since in general new information capacity has required the addition of new control hardware. The increased operational complexity is reflected in a proliferation of knobs and buttons.In the conventional electron microscope design the operating panel of the instrument has distinct control elements to alter optical conditions of the microscope column in different modes. As a consequence a multiplicity of control functions has been inevitable. Examples of this are the three pairs of focus and magnification controls needed for TEM imaging, diffraction patterns, and STEM images.

Suicide-Related Crimes in Contemporary European Criminal Laws

Crisis ◽  
1997 ◽  
Vol 18 (1) ◽  
pp. 35-47 ◽  
Author(s):  
Ilkka Henrik Mäkinen
Keyword(s):  
Suicide Prevention ◽  
Suicide Mortality ◽  
Legal Systems ◽  
Cultural Attitudes ◽  
Public Opinions ◽  
Suicide Rates ◽  
Narrow Scope ◽  
National Affair ◽  
Attitudes Towards Suicide ◽  
Special Circumstances

This article describes suicide-related penal legislation in contemporary Europe, and analyzes and relates the results to cultural attitudes towards suicide and to national suicide rates. Data were obtained from 42 legal entities. Of these, 34 have penal regulations which - according to definition - chiefly and directly deal with suicide. There are three main types of act: aiding suicide, abetting suicide, and driving to suicide. The laws vary considerably with regard to which acts are sanctioned, how severely they are punished, and whether any special circumstances such as the motive, the result, or the object can make the crime more serious. Various ideologies have inspired legislation: religions, the euthanasia movement, and suicide prevention have all left their mark. There are some cases in which neighboring legal systems have clearly influenced laws on the topic. However, the process seems mostly to have been a national affair, resulting in surprisingly large discrepancies between European legal systems. The laws seem to reflect public opinions: countries which punish the crimes harder have significantly less permissive cultural attitudes towards suicide. Likewise, suicide rates were significantly higher in countries with a narrow scope of criminalization and milder punishments for suicide-related crimes. The cultural and normative elements of society are connected with its suicide mortality.

Tasks of computer graphics under conditions of fundamentalization of preparation of an informatics teacher

2020 ◽  
pp. 57-63
Author(s):  
Ye. Yi. Bidaibekov ◽  
V. V. Grinshkun ◽  
S. N. Koneva
Keyword(s):  
Computer Graphics ◽  
Basic Principle ◽  
Fundamental Component ◽  
The Future ◽  
Scope Of Application ◽  
Education Training ◽  
Mathematical Foundations

The article deals with computer graphics tasks related to the activities of the future informatics teacher in conditions of fundamentalization of education. Training of future informatics teachers in the context of the fundamentalization of education requires them to know the range of tasks related to computer graphics and the skills to solve them. In order to enhance the fundamental component of computer graphics, methods are proposed that rely on interprandial communications, as well as on in-depth training of computer graphics. In the course of reasoning, the authors come to the conclusion that the content of computer graphics should be enriched with mathematical foundations of computer graphics and as a result update the content of the computer graphics course with machine graphics algorithms. The basic principle of selecting the content of the course offered is the principle of the fundamentalization of education. Since the scope of application of computer graphics is extensive, in our opinion, the system of tasks and tasks on computer graphics is the most interesting. A feature of this system is the orientation towards solving fundamental problems of computer graphics. It was also revealed during the study that it is possible to reduce the tasks of the proposed system to a certain sequence of stages. The application of stages for a certain type of tasks affects the methods of solving them. Thus, the fundamental training of future informatics teachers in computer graphics requires them to know these stages and methods of solving fundamental computer graphics tasks.

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