policy
noun [ C ]
uk/ˈpɒləsi/ usplural policies [ C or U ] GOVERNMENT, POLITICS, MANAGEMENT
a set of ideas, or a plan of what to do in particular situations, that has been agreed officially by a group of people, a business organization, a government, or a political party:
The government has finally announced its policy on the regulation of the financial services industry.
The oil markets are affected by economic policy.
The company policy is that most workers should retire at 60.
formulate/develop/implement a policy The company has now implemented its policy of Quality Control.
change of policy This move represents a change of policy on the part of the Board.
[ C ] INSURANCE (also insurance policy)
an agreement with an insurance company that it will provide insurance for you against particular risks, or the document showing this:
You should check your policy to see if you're covered for flood damage.
Make sure to keep your policy document in a safe place.
See also
closed-door policy
collective policy
credit policy
dear-money policy
domestic policy
easy monetary policy
endowment policy
fire policy
fiscal policy
foreign policy
household policy
incomes policy
monetary policy
mortgage protection policy
open-door policy
paid-up policy
scorched-earth policy
standard fire policy
survivorship policy
valued policy
with-profits
without profits