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, 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 ?
(a) The accident takes place in the "coverage territory" and during the policy period;
below, the Each Blip Limit of Liability stated in item 4 of the Declarations Page is the most we will pay for claim expenses and damages combined for the total of all claims made during the policy period, including any applicable Extended Reporting Period, arising from a blip, no matter how many:
These classifi cations were assigned based on an estimate of the exposures you would have during the policy period. If your actual exposures are not properly described by those classifi cations, we will assign proper classifi cations, rates and premium basis by endorsement to this policy.
The Court rejected the CU argument that "horizontal" exhaustion was required at each layer in each policy period triggered before a subsequent layer in a given year could be considered triggered for purposes of applying the "limits and time" allocation formula of Owens-Illinois.
He contended that there was an issue of fact as to whether Rakowskis payment of $306 before the commencement of the policy period beginning October 10, 2005, secured a fully paid policy providing a full year of coverage for $1,000,000.
National Union also sought a declaratory judgment that, under the policy and under Washington law, it had no duty to defend or indemnify Zillow because VHT's claims first arose in the previous policy period.
The weighted average overnight repo rate stood at 3 basis points above the policy rate in post January 2016 monetary policy period compared to being 21 basis points above in the post November 2015 monetary policy period.
Benefits for emergency childbirth is set at SR5,000 during the policy period, while the approved cost of travel with one family member is set at a maximum of SR5,000 during the policy period.
The CM policy form requires as a condition of coverage that the claim first be made against you during the policy period.
(Contractors pollution liability insurance covers an insured for environmental releases arising out of the insured's actions, but that's a separate topic.) The coverage is claims made and reported, meaning that, to be covered, a claim has to be made against the insured and reported to the carrier during the policy period. Policy periods max out at ten years, but renewals and reporting extensions are usually available.
To answer this question, we compare forecast performance across these two periods, the first of which we call the conventional monetary policy period and the second of which we call the unconventional.
The Avoiding Liability Helpline provides CPH and Associates policyholders with up to two free hours of consultation with an attorney per policy period for legal questions related to an existing situation with a client that is not otherwise covered under the policy benefits.

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