Terms of Art

  • (p5) - They allege that “cost of insurance” is an industry term 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, 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