Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “policy”

policy

noun [C]     /ˈpɒləsi/ (plural 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] (also insurance policy) INSURANCE 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
(Definition of policy noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of policy

Definitions of “policy” in other dictionaries

Word of the Day

workmanship

the skill with which something was made or done

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More