From Longman Dictionary of Contemporary Englishpolicypol‧i‧cy /ˈpɒləsi $ ˈpɑː-/ ●●● S3 W1 AWL noun (plural policies) 1 [countable, uncountable]PLAN a way of doing something that has been officially agreed and chosen by a political party, a business, or another organizationforeign/economic/public etc policy a foreign policy adviser The company has adopted a strict no-smoking policy.policy on/towards government policy on higher education US policy towards Chinait is (somebody’s) policy to do something It is hospital policy to screen all mothers with certain risk factors.► see thesaurus at plan2 [countable]BFI a contract with an insurance company, or an official written statement giving all the details of such a contract an insurance policy There’s a clause in the policy that I’d like to discuss. I’ve just renewed the policy (=arranged for it to continue). Does the policy cover theft and fire? You can take out a policy (=buy one) for as little as $11.00 a month.3 [countable]PLAN a particular principle that you believe in and that influences the way you behaveit is somebody’s policy to do something It’s always been my policy not to gossip.COLLOCATIONS – Meaning 1: a way of doing something that has been officially agreed and chosen by a political party, a business, or another organizationADJECTIVES/NOUN + policygovernment/public/state policyGovernment spending is determined by government policy.party policyState ownership is party policy.company/hospital/university etc policyIt is not company policy to offer refunds.foreign policySupport for human rights is a key element in our foreign policy.economic/fiscal policyThe middle classes have suffered most as a result of government economic policies.defence/energy/housing etc policyOur energy policies must put the environment first.a deliberate policySome customers pursue a deliberate policy of delaying payment.a clear policyThere was no clear policy on this matter.a coherent policy (=one in which all the parts of the policy work well together)A long-term coherent policy for industry is needed.verbsformulate/develop a policyWe try to formulate policies that will meet the needs of the people.make policy (=decide what it will be)A committee of representatives makes policy.shape policy (=develop it or have an influence on it)These terrorist acts will not be allowed to shape our foreign policy.adopt a policy (=use one)He adopted a policy of radical reform.implement a policy (=take action in the way that has been decided)Local government is responsible for implementing central government policy.pursue/follow a policy (=continue with a policy over a period of time)The organization is pursuing a policy of cost cutting.reverse a policy (=stop a policy and change it)The new government set about reversing previous policies.a policy aims at something/to do something (=tries to achieve something)The policy aimed to reduce the budget deficit.policy + NOUNa policy decisionNo policy decision can be made until the next meeting.a policy statementThere has been no policy statement on this from the French government. a policy changeThere have been numerous policy changes in recent months.a policy issueHe rarely consulted him on general policy issues.a policy maker (=someone who decides on what it should be)Policy makers have not dealt with the issue very effectively.a policy objectiveHow can we best achieve our policy objectives?a policy initiative (=something done to achieve a policy's goals)The policy initiatives have focused on the inner cities.phrasesa change of/in policyThis decision represented a major change in policy.a shift in policy (=a small change)The shift in policy placed more emphasis on teachers' assessments of students' progress.a reversal of policy (=a change back to what it was before)The strength of this opposition forced a rapid reversal of policy. COLLOCATIONS – Meaning 2: a contract with an insurance company, or an official written statement giving all the details of such a contractNOUN + policyan insurance policyIs the damage covered by your insurance policy?a life policy/life insurance policy (=one that will pay out money if you die)New homeowners must usually buy a life policy before they can get a mortgage.a contents policy British English (=one that will pay out money if things in your home are damaged or stolen)Most basic contents policies cover accidents to mirrors.verbstake out/buy a policy (=arrange it)People with children should take out a life insurance policy.renew a policy (=buy it again, especially regularly)The policy must be renewed every year.a policy covers something (=will pay out money in relation to it)The policy does not cover dental bills.a policy pays out (=pays you money when you claim it)I thought my insurance policy would pay out.
Examples from the Corpuspolicy• A new ruler might adopt a policy of drastically cutting back oil production in order to boost prices.• US foreign policy• On the other hand, not every organization needs a formal policy in order to be prepared.• I make it my policy not to gossip.• The only exception to this new policy would be Visa cards.• Evaluations of policies are conducted through research and expert analysis supported by the Presidium's administrative staff.• Most large companies these days operate an equal opportunities policy.• It is not our policy to reveal our clients' names.• the government's policy on Europe• Your homeowner's policy probably doesn't cover damage to your house from mudslides.• Few journalists liked Reagan's policies.• The Cuban revolution resulted in a reassessment of Washington's policy towards the Third World generally.• McBride can put his luck down to criticism from scribes down south earlier in the season, rather than bad selection policy.• Tax policy would be ruled by stubborn one-third minorities, many among them cruising for policy payoffs to drop their opposition.it is (somebody’s) policy to do something• But, as a means of maintaining good swards, it is a good policy to mix sheep with cattle.take out ... policy• People taking out policies of the kind just described are committing themselves to paying premiums as part of a long-term contract.• It is possible for a Policyholder to take out a policy without the benefit of index-linking.• I know of a fellow of over sixty who took out a policy.• Your best bet is to let the insurance company know that you have a fish tank before you take out a policy.it is somebody’s policy to do something• But, as a means of maintaining good swards, it is a good policy to mix sheep with cattle.From Longman Business Dictionarypolicypol‧i‧cy /ˈpɒləsiˈpɑː-/ noun plural policies1[countable] (also insurance policy)INSURANCE a contract with an insurance company, or an official written statement giving all the details of such a contractShe did not realize that her policy had expired.If the watch is stolen, your insurance policy might reimburse only $5,000.Your account number is printed on the top of your policy document.2[countable, uncountable] a course of action that has been officially agreed and chosen by a political party, business, or other organizationpolicy onA review of Britain’s policy on mergers is overdue.It’s company policy not to give interviews to the press.The two ministers disagreed on certain aspects of economic policy. → credit policy → dear-money policy → domestic policy → fiscal policy → foreign policy → incomes policy → monetary policy → open-door policyOrigin policy 1. (1300-1400) Old French policie, from Late Latin politia; → POLICE12. (1500-1600) French police “document, certificate”, from Old Italian polizza, from Greek apodeixis “proof”