Policy Pol"i*cy, n. [F. police; cf. Pr. polissia, Sp. p['o]lizia, It. p['o]lizza; of uncertain origin; cf. L. pollex thumb (as being used in pressing the seal), in LL. also, seal; or cf. LL. politicum, poleticum, polecticum, L. polyptychum, account book, register, fr. Gr. ? having many folds or leaves; ? many + ? fold, leaf, from ? to fold; or cf. LL. apodixa a receipt.] 1. A ticket or warrant for money in the public funds. [1913 Webster]

2. The writing or instrument in which a contract of insurance is embodied; an instrument in writing containing the terms and conditions on which one party engages to indemnify another against loss arising from certain hazards, perils, or risks to which his person or property may be exposed. See {Insurance}. [1913 Webster]

3. A method of gambling by betting as to what numbers will be drawn in a lottery; as, to play policy. [1913 Webster]

{Interest policy}, a policy that shows by its form that the assured has a real, substantial interest in the matter insured.

{Open policy}, one in which the value of the goods or property insured is not mentioned.

{Policy book}, a book to contain a record of insurance policies.

{Policy holder}, one to whom an insurance policy has been granted.

{Policy shop}, a gambling place where one may bet on the numbers which will be drawn in lotteries.

{Valued policy}, one in which the value of the goods, property, or interest insured is specified.

{Wager policy}, a policy that shows on the face of it that the contract it embodies is a pretended insurance, founded on an ideal risk, where the insured has no interest in anything insured. [1913 Webster]

The Collaborative International Dictionary of English. 2000.


Look at other dictionaries:

  • policy — pol‧i‧cy [ˈpɒlsi ǁ ˈpɑː ] noun plural policies 1. [countable] also inˈsurance ˌpolicy INSURANCE a contract with an insurance company, or an official written statement giving all the details of such a contract: • She did not realize that her… …   Financial and business terms

  • policy — pol·i·cy 1 / pä lə sē/ n pl cies: an overall plan, principle, or guideline; esp: one formulated outside of the judiciary obligated to consider legislative policy on the matter in their decision policy 2 n pl cies: a contract of insurance; also:… …   Law dictionary

  • policy — policy1 [päl′ə sē] n. pl. policies [ME policie < OFr < L politia < Gr politeia: see POLICE] 1. a) Obs. government or polity b) Now Rare political wisdom or cunning 2. wise, expedient, or prudent conduct or management …   English World dictionary

  • Policy — Pol i*cy, n.; pl. {Policies}. [L. politia, Gr. ?; cf. F. police, Of. police. See {Police}, n.] 1. Civil polity. [Obs.] [1913 Webster] 2. The settled method by which the government and affairs of a nation are, or may be, administered; a system of… …   The Collaborative International Dictionary of English

  • policy — Ⅰ. policy [1] ► NOUN (pl. policies) 1) a course or principle of action adopted or proposed by an organization or individual. 2) archaic prudent or expedient conduct or action. ORIGIN Greek politeia citizenship , from polis city . Ⅱ …   English terms dictionary

  • Policy — Pol i*cy, v. t. [imp. & p. p. {Policied}; p. pr. & vb. n. {Policying}.] To regulate by laws; to reduce to order. [Obs.] Policying of cities. Bacon. [1913 Webster] …   The Collaborative International Dictionary of English

  • policy — There are two separate words with this spelling: (1) meaning ‘a course or principle of action’ derived ultimately from the Greek word polis ‘city’, and (2) meaning ‘a contract of insurance’ derived ultimately from the Greek word apodeixis… …   Modern English usage

  • policy — [n] procedure, tactics action, administration, approach, arrangement, behavior, channels, code, course, custom, design, guideline, line, management, method, order, organization, plan, polity, practice, program, protocol, red tape*, rule, scheme,… …   New thesaurus

  • Policy — This article is about policies in general. For government policy, see Public policy. For other uses, see Policy (disambiguation). A policy is typically described as a principle or rule to guide decisions and achieve rational outcome(s). The term… …   Wikipedia

  • policy — The general principles by which a government is guided in its management of public affairs, or the legislature in its measures. A general term used to describe all contracts of insurance. See policy of insurance. This term, as applied to a law,… …   Black's law dictionary

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