Search results for 'policy':

knock-for-knock agreement or policy noun an arrangement between motor insurance companies by which, after an accident involving two cars, each company settles the damage to the car it insures regardless of which driver was to blame.

policy¹ noun (policies) 1 a plan of action, usually based on certain principles, decided on by a body or individual. 2 a principle or set of principles on which to base decisions • It is not our policy to charge for service. 3 a course of conduct to be followed • Your best policy is to keep quiet and let us do the talking. 4 prudence; acumen; wisdom. 5 (usually policies) Scots the surrounding grounds of a mansion • walk round the policies.
ETYMOLOGY: 15c in sense 4; 14c in obsolete sense 'governmental administration': from French policie, from Latin politia; see police.

policy² noun (policies) 1 an insurance agreement. 2 the document confirming such an agreement. policy-holder noun.
ETYMOLOGY: 16c: from French police, from Latin apodixis, from Greek apodeixis proof.