Interest policy
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:

  • interest policy — A true rather than a wager policy; a policy protecting a real and substantial interest of the insured. Sawyer v Dodge County Mut. Ins.. Co. 37 Wis 503, 539 …   Ballentine's law dictionary

  • interest policy — noun : an insurance policy which requires insurable interest in the property covered only at the time of loss and not at the inception of the policy …   Useful english dictionary

  • 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 …   The Collaborative International Dictionary of English

  • Policy book — 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,… …   The Collaborative International Dictionary of English

  • Policy holder — 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,… …   The Collaborative International Dictionary of English

  • Policy shop — 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,… …   The Collaborative International Dictionary of English

  • 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

  • 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 analysis — can be defined as determining which of various alternative policies will most achieve a given set of goals in light of the relations between the policies and the goals [Nagel, Stuart S. (Ed.), 1999, Policy Analysis Methods. New Science Publishers …   Wikipedia

  • interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim …   Law dictionary

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