a plan of action adopted by an individual or social group
"it was a policy of retribution"
"a politician keeps changing his policies"
a line of argument rationalizing the course of action of a government
"they debated the policy or impolicy of the proposed legislation"
written contract or certificate of insurance
"you should have read the small print on your policy"
A principle of behaviour, conduct etc. thought to be desirable or necessary, especially as formally expressed by a government or other authoritative body.
"After paying his monthly premium, he finally received his new auto insurance policy in the mail."
A contract of insurance.
In plain English: A policy is a set of rules that guides how people make decisions or act in a specific situation.
"The company's new policy requires all employees to work from home on Fridays."
Usage: In everyday conversation, policy refers to a company's established rules or principles rather than an insurance contract. Use this word when describing organizational guidelines, not financial documents.
To regulate by laws; to reduce to order.
"The new policy will strictly regulate waste disposal and reduce our industrial operations to complete order."
In plain English: To policy something means to make it an official rule or plan for how things should be done.
"The manager decided to policy the changes until more staff members could review them."
Usage: In modern English, "policy" is exclusively a noun referring to a set of rules or a course of action; it is not used as a verb. To express the act of making or enforcing rules, use the verb "to policy" nowhere at all, but instead choose verbs like "to regulate," "to govern," or "to implement."
The word policy comes from the Ancient Greek politeía, which originally meant "citizenship" or "government." It traveled into English through Middle English and Old French before taking on its modern sense of a planned course of action.