Generic instability in a frozen legal genre?

2020 ◽  
Vol 5 (1) ◽  
pp. 57-82
Author(s):  
Ameni Hlioui
Keyword(s):  
Social Action ◽  
Life Insurance ◽  
Legal Discourse ◽  
Social Discourse ◽  
Legal Language ◽  
Strategic Objectives ◽  
Insurance Contracts ◽  
Frequency Of Use ◽  
The Law ◽  
Generic Instability

AbstractThough legal discourse has undergone several steps of metamorphosis to evolve from a law and language discourse that considers the subject of the law sacred to a language of the law discourse that views “language as social action and law as social discourse” (Goodrich 1987: 76), it is still believed that “legal language has to be the way it is” (Danet 1980: 541). This is relevant especially to those genres at the frozen written end of the legal discourse scale. However, the fact that legal texts “can be relatively precise, or quite general or vague, depending on the strategic objectives of the drafter” (Tiersma 2008: 7) can create blurs within the determinacy of such genres. In this context, the genre of Life Insurance Contracts which belongs to the written mode and frozen style end of the legal language continuum is studied to investigate to what extent we can talk about challenging generic stability in such a genre. The focus is put specifically on the frequency of use of personal pronouns in this genre that claims functional redundancy. The experiential meta-function of Systemic Functional Linguistics is also used to detect the participant roles assigned to these pronouns and to find out if the frequency of certain roles is generic. These frequencies that are computed using the UAM computational CorpusTool in a corpus made up of 16 contracts counting 174.288 words are studied in relation to the purposes of the legal genre of Life Insurance Contracts.

Part III Transfers in Particular Contexts, 17 Transfer of Insurance Contracts

2018 ◽  
Author(s):  
Smith Marcus ◽  
Leslie Nico
Keyword(s):  
Life Insurance ◽  
The Other ◽  
Marine Insurance ◽  
Insurance Contracts ◽  
Two Factors ◽  
The Law

This chapter studies insurance contracts. A contract of insurance is one whereby one party (the insurer) promises in return for a money consideration (the premium) to pay to the other party (the assured) a sum of money or provide him with some corresponding benefit, upon the occurrence of one or more specified events. Their assignability is complicated by two factors. First, there are a number of different rules whereby an assignment can be effected, in addition to the equitable and statutory (section 136 of the Law of Property Act 1925) methods. Second, when considering the assignment of insurance contacts, it is important to be clear about what it is that is being assigned. The chapter then considers the transferability of the assured's right under four types of insurance: indemnity insurance; life insurance; marine insurance; and reinsurance.

STATE REGULATION OF THE FINANCIAL SERVICES MARKET IN UKRAINE

2018 ◽  
Vol 1 (11) ◽  
pp. 30-47
Author(s):  
Lyudmila Nikolayevna Akimova ◽  
Alla Vasilievna Lysachok
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Credit Unions ◽  
State Regulation ◽  
The State ◽  
Existing Problems ◽  
Insurance Contracts ◽  
State Pension

The essence of such concepts is “financial service”, “financial ser- vices market”, and “participants of the financial services market”; determined the purpose of state regulation of the financial services market; forms of state regu- lation of the financial services market; financial services that are present in the financial services market; the structure of state regulation bodies of the financial services market in Ukraine is given; The role of state bodies in the regulation of the financial services market was studied; to characterize the regulatory le- gal regulation of the financial services market in Ukraine; the main problems of functioning of the domestic market of financial services are revealed; ways to solve existing problems. It is grounded that the state regulation of financial ser- vices markets consists in the state’s implementation of a set of measures aimed at regulating and overseeing financial services markets to protect the interests of financial services consumers and preventing crisis phenomena. It is concluded that the financial services market is an important element of the development of the economy as a whole, in particular, it concerns not only the state but also society. We must understand that when this market is settled, that is, all bodies that carry out state regulation are competent in their powers, only then will we make informed, effective decisions about the normal and effective functioning of the RFP. It is important that the data of the subjects of control do not overlap, their activities should be fixed at the legislative level. It is also worth bearing in mind that appropriate conditions must be created to create compensatory mecha- nisms in the financial services markets by developing a system for guarante- eing deposits and providing for payments under long-term life insurance contracts, non-state pension provisions, deposits with deposit accounts to credit unions, etс.

scholarly journals The IFRS 17 contractual service margin: a life insurance perspective

2021 ◽  
Vol 26 ◽  
Author(s):  
W. Yousuf ◽  
J. Stansfield ◽  
K. Malde ◽  
N. Mirin ◽  
R. Walton ◽  
...  
Keyword(s):  
Life Insurance ◽  
Market Value ◽  
Financial Statements ◽  
Insurance Contract ◽  
Accounting Standard ◽  
Insurance Contracts ◽  
Ifrs 4 ◽  
Insurance Perspective ◽  
To Come

Abstract IFRS 17 Insurance Contracts is a new accounting standard currently expected to come into force on 1 January 2023. It supersedes IFRS 4 Insurance Contracts. IFRS 17 establishes key principles that entities must apply in all aspects of the accounting of insurance contracts. In doing so, the Standard aims to increase the usefulness, comparability, transparency and quality of financial statements. A fundamental concept introduced by IFRS 17 is the contractual service margin (CSM). This represents the unearned profit that an entity expects to earn as it provides services. However, as a principles-based standard, IFRS 17 results in entities having to apply significant judgement when determining the inputs, assumptions and techniques it uses to determine the CSM at each reporting period. In general, the Standard resolves broad categories of mismatches which arise under IFRS 4. Notable examples include mismatches between assets recorded at current market value and liabilities calculated using fixed discount rates as well as inconsistencies in the timing of profit recognition over the duration of an insurance contract. However, there are requirements of IFRS 17 that may create economic or accounting mismatches of its own. For example, new mismatches could arise between the measurement of underlying contracts and the corresponding reinsurance held. Additionally, mismatches can still arise between the measurement of liabilities and the assets that support the liabilities. This paper explores the technical, operational and commercial issues that arise across these and other areas focusing on the CSM. As a standard that is still very much in its infancy, and for which wider consensus on topics is yet to be achieved, this paper aims to provide readers with a deeper understanding of the issues and opportunities that accompany it.

scholarly journals The Reduction of Initial Reserves Using the Optimal Reinsurance Chains in Non-Life Insurance

Mathematics ◽  
2021 ◽  
Vol 9 (12) ◽  
pp. 1350
Author(s):  
Galina Horáková ◽  
František Slaninka ◽  
Zsolt Simonka
Keyword(s):  
Life Insurance ◽  
Continuous Time ◽  
Ruin Probability ◽  
Proportional Reinsurance ◽  
Insurance Risk ◽  
Optimal Reinsurance ◽  
Insurance Contracts ◽  
Time Period ◽  
Different Types ◽  
Capital Injections

The aim of the paper is to propose, and give an example of, a strategy for managing insurance risk in continuous time to protect a portfolio of non-life insurance contracts against unwelcome surplus fluctuations. The strategy combines the characteristics of the ruin probability and the values VaR and CVaR. It also proposes an approach for reducing the required initial reserves by means of capital injections when the surplus is tending towards negative values, which, if used, would protect a portfolio of insurance contracts against unwelcome fluctuations of that surplus. The proposed approach enables the insurer to analyse the surplus by developing a number of scenarios for the progress of the surplus for a given reinsurance protection over a particular time period. It allows one to observe the differences in the reduction of risk obtained with different types of reinsurance chains. In addition, one can compare the differences with the results obtained, using optimally chosen parameters for each type of proportional reinsurance making up the reinsurance chain.

Legal Principles, Constitutional Principles, and Judicial Review

2019 ◽  
Vol 67 (4) ◽  
pp. 899-930
Author(s):  
Han-Ru Zhou
Keyword(s):  
Judicial Review ◽  
English Language ◽  
Common Law ◽  
Legal Discourse ◽  
Significant Degree ◽  
Clear Cut ◽  
Logical Connection ◽  
Select Group ◽  
The Law ◽  
Anglo American

Abstract Principles form part and parcel of our law and legal discourse, so much so that we seldom think of what they are and what they entail. For centuries they have been invoked daily to interpret and argue about the law. But when it comes to matters of constitutional law, principles are further called upon to perform a perennially controversial function: to help police the boundaries of state action. In most common law jurisdictions with a written constitution, this function of principles runs against the generally accepted view that the exercise of judicial review must ultimately be governed and restricted by the terms of the national constitution. This Article argues that the exercise of judicial review based on principles is not confined to that view, once the relationship between principles and the constitution is unpacked and recontextualized. While the English-language literature on principles over the past half-century has been dominated by a select group of Anglo-American scholars, there is a wealth of untapped insights from other parts of the world. One of the major contributions by continental legal theorists even predates the earliest modern Anglo-American writings on the subject by more than a decade. Overall, the law literature in common law and civil law systems reveals a significant degree of commonalities in the basic characters of principles despite the absence of initial evidence of transsystemic borrowings. The wider conceptual inquiry also displays a shift in the focus of the debate, from the protracted search for a clear-cut distinction between rules and principles towards a redefinition of principles’ relationship with “written” law, be it in the form of a civil code or a constitutional instrument. From this inquiry reemerge “unwritten” principles not deriving from codified or legislated law although they have been used to develop the law. Translated into the constitutional domain, these unwritten principles bear no logical connection with the terms of the constitution. Their main functions cover the entire spectrum from serving as interpretive aids to making law by filling gaps. The theoretical framework fits with an ongoing four-century-old narrative of the evolution of constitutional principles and judicial review across most common law-based systems. Constitutional principles are another area where Anglo-American law and legal discourse is less exceptional and more universal than what many assume. Throughout modern Western history, legal battles have been fought and ensuing developments have been made on the grounds of principles. Our law and jurisprudence remain based on them.

Transformation of legal language – Early Byzantine legal discourse

2017 ◽  
Vol 2 (1) ◽  
Author(s):  
Jaakko Husa
Keyword(s):  
Legal Discourse ◽  
Legal Culture ◽  
Linguistic Analysis ◽  
Cultural Transformation ◽  
Point Of View ◽  
Sixth Century ◽  
Roman Law ◽  
Legal Language ◽  
Linguistic Change ◽  
Early Byzantine

AbstractThis article examines the complicated legal-cultural process in which Roman law became Byzantine law and Roman legal discourse altered into Byzantine legal discourse. Roman law’s transformation into Early Byzantine law is analysed from the point of view of legal language which mutated from Latin to Greek. The approach is legal cultural and legal linguistic and focuses on the overall shape and general patterns. The goal is to highlight how legal-cultural transformation was incremental, language-bound and that there was no radical or sudden culmination point. Moreover, the analysis answers generally to the question of why sixth-century Byzantine legislative Greek contained frequent Latin loans, expressions, phrases and distortions. The discussion concentrates on the Novellae as an integral part of the process of legal cultural and linguistic change from Roman to Byzantine. Instead of going into detailed linguistic analysis, this article underlines generally the contextuality of law and the importance of legal culture

Sign in / Sign up

Export Citation Format

Share Document