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.

policy

(Contract), noun agreement, arrangement, contractual obligation, contractual statement, insurance contract, legal document, mutual agreement, mutual underraking, obligation, pact, schedule, understanding
Associated concepts: insurance policy

policy

(Plan of action), noun approach, consilium, course, course of action, course of conduct, doctrine, essablished order, fundamental principles, general guidelines, general principles, governing course of action, governing plan, governing principle, line, line of action, line of connuct, management, manner of proceeding, method, mode of management, party line, plan, plan of campaign, polity, prescribed form, principles, procedure, proposal, proposed action, proposition, rule of accion, scheme, stratagem, ways
Associated concepts: public policy
See also: course, direction, guide, platform, polity, practice, principle, procedure, process, program, rule, scheme, strategy, system

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.

References in periodicals archive ?
The court dismissed the suit, finding the player's injuries took place outside of the policy period of the CGL policy and were barred under the D&O policy's bodily injury exclusion.
Continental is only liable, therefore, for its pro rata share of defense costs based on its policy periods as its pro rata share.
Our whole sample period covers 1990:Q1 to 2014:Q4, with the conventional monetary policy period spanning 1990:Q1 to 2008:Q4, and the unconventional monetary policy period spanning 2009:Q1 to 2014:Q4.
Preferred wording would be: You must provide notification of a claim as "soon as practicable" within the policy period "but no later than 60 (or 90, 120) days after expiration of date of the policy.
6) Therefore, in a loss occurring, for example, over five separate policy periods, potentially five separate policies would be in play and the argument was open to an insured that each policy limit (depending on the loss during that policy period), would be answerable.
Coverage applies only to loss or damage sustained through dishonest acts or events occurring during the policy period.
Also, for the overworked risk manager who cannot constantly report newly acquired autos to the insurer, symbol 2 provides automatic coverage for autos that the named insured acquires ownership of during the policy period.
For example: Suppose the insured had an "occurrence" coverage form with a policy period of 6/1/2003 to 6/1/2004.
Diligent then tenders the claim to Lucky Pro, which denies coverage because the claim was made and reported after Lucky Pro's policy expired, and because Diligent never reported the potential claim during the policy period.
The court concluded that since the professional liability insurance policy in question was a "claims made" policy, and the claim was made within the policy period, albeit close to the expiration date of coverage under the policy, Landry's claim was covered under the terms and conditions of the policy.
Insurance Company -- -- Policy Number -- Renewal of -- Item 1 Named Insured _____________________________________________ Address _____________________________________________ Item 2 Policy Period Start Date_____ End Date_____ (12:01 a.
2) At the end of the policy period shown in the Declarations; whichever is earlier.

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