Policy

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Policy

The general principles by which a government is guided in its management of public affairs, or the legislature in its measures. A general term used to describe all contracts of insurance.

As applied to a law, ordinance, or Rule of Law, the general purpose or tendency considered as directed to the welfare or prosperity of the state or community.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

POLICY, PUBLIC. By public policy is meant that which the law encourages for the promotion of the public good.
     2. That which is against public policy is generally unlawful. For example, to restrain an individual from marrying, or from engaging in business, when the restraint is general, in the first case, to all persons, and, in the second, to all trades, business, or occupations. But if the restraint be only partial, as that Titius shall not marry Moevia, or that Caius shall not engage in a particular trade in a particular town or, place, the restraint is not against public policy,, and therefore valid. 1 Story, Eq. Jur. Sec. 274. See Newl. Contr. 472.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Therefore in most of the cases, product features are either not fully disclosed to a potential policy holder or exaggerated, especially as regards the Rate of Return in case of saving policies.
In our view, the constitution of the Tribunal under the special law vide notifications dated 20-6-2006, gave rise an intimation to the insurance policy holders to seek enforcement for their claims from the learned Insurance Tribunal constituted under the ordinance of 2000, therefore, in our opinion the limitation for moving the Tribunal for the enforcement of insurance policy claim will commence from the date when the Tribunal was constituted for the first time on 20-6-2006.
Porting in health insurance sector is current adopted in many developed countries, where policy holders have the freedom to switch to any other insurer at any time during the tenure of the policy, which is generally a year.
"We are a mutual insurance company and it would be unfair to other policy holders to be effectively paying out their money for an invalid claim."
The agents succeeded in collecting Rp 13.765 billion from policy holders. In 2002, life insurance sector provided jobs for 95,798 people (81,750 agents and 14,040 employee).
Although the policy holder represented by the attorney is the "client," and counsel owes the policy holder a primary duty of confidentiality, the insurer typically controls the bulk of defense and settlement in the case.
Courts around the country are split on the representation issues, including a recent ruling from the Montana Supreme Court that insurance lawyers represent only the policy holders, Bianchi said.
Whereas according to him in cases where the insurance company has any claim against the policy holder then they can file a civil suit before the Civil Court having territorial and pecuniary jurisdiction and according to him the Insurance Company has no jurisdiction to agitate the grievance before the Insurance Tribunal, so he has jurisdiction to agitate the grievance before the Insurance Tribunal, so he has contended that the impugned orders by the two courts below merits to be set aside and further according to him the other provisions of the Insurance Ordinance 2000 such as section 127(1).
KARACHI -- The State Life Insurance has earned a profit of Rs154 billion during 2016-17 and distributed over Rs38 billion among its policy holders.
master policy holder as against the beneficiaries..."
The inspection revealed that the appellant has failed to meet the requirements of the Ordinance and has completely disregarded the interest of the policy holder. The appellant adopted misleading and deceptive market conduct to sell the package and has failed to make the necessary disclosures to the policy holders.
The certified public adjusters at The Public Adjusters, with offices throughout Florida and licensed adjusters in eleven states, say it is always in the best interest of an insurance policy holder to understand all facets of their policy, it's also important to remember that an insurance adjuster assigned by your insurance provider has no allegiance to the policy holder.

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