Terms of Art

2013 0102 – LC – Freeman v Pacific Life – 09-55513, D.C. No. 8:08-cv-01134-DOC-AN, OPINION – 15p

There is a general rule of statutory construction that terms of art used in the statute that are particular to a specific industry are interpreted consistently with that industry’s understanding of the meaning. (p26)

— Peter Winslow

2015 – SOA – Taxing Times, /tax-2015-vol-11-iss2 – Society of Actuary’s – 56p

THE COURT: But they clearly describe those types of charges as non-guaranteed.
MARTENS: Well, the question isn’t whether they’re non-guaranteed. The question is whether or not they meet the statutory definition of non-guaranteed elements.
- In other words, non-guaranteed elements is a term of art in the statute.
- So the question, is it a premium, benefit, value, credit, or charge? (p30)

Walker v Life Insurance Company of the Southwest – 2017 1211 – DOC 876 – TRANSCRIPT for proceedings – 61p

The term “cede” or “ceded” is a term of art used in the insurance context when an insurance company (the “ceding company”) transfers a risk or risks in a policy to another company (the reinsurer). (p4)

2022 0811 – Vermont – Final Proposed Filing, 22-P12 – Coversheet – 118p