Meaning of “policy” in the English Dictionary

"policy" in British English

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policynoun [ C ]

uk /ˈpɒl.ə.si/ us /ˈpɑː.lə.si/

(Definition of “policy” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"policy" in American English

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policynoun [ C ]

us /ˈpɑl·ɪ·si/

policy noun [ C ] (PLAN)

a set of ideas or a plan for action followed by a business, a government, a political party, or a group of people:

The White House said there will be no change in policy.

policy noun [ C ] (DOCUMENT)

a document showing an agreement you have made with an insurance company:

a life-insurance policy

(Definition of “policy” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"policy" in Business English

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policynoun [ C ]

uk /ˈpɒləsi/ us 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.

(Definition of “policy” from the Cambridge Business English Dictionary © Cambridge University Press)