Policy

A policy is a plan of action for tackling issues. It is often initiated by a political party in government, which undergoes reforms and changes by interested actors (for example, opposition parties and lobby groups). Policy designates a process. This process includes the elaboration of programs by different, usually public and private collective actors and the way the programs are then applied as concrete programs and actions. Policies in short can be understood as political and administrative mechanisms arranged around explicit goals. (Source: Müller, Pierre; Surel Yves: L'analyse des politiques publiques. Paris, 1998)

Commerce

Insurance

In insurance, policies are contracts between insurer and insured used to indemnify(protect) against potential loss from specified perils.

Related Topics:
Insurance - Indemnify

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

In illegal gambling

Policy is a form of an unsanctioned lottery, where players can purchase insurance against a chosen number being picked by a legitimate lottery.

Related Topics:
Insurance - Lottery

~ ~ ~ ~ ~ ~ ~ ~ ~ ~