- Insurance: Formal contract issued by an insurer that contains terms and conditions of the insurance cover and serves as its legal evidence.
- Organizational: Set of basic principles and associated guidelines, formulated and enforced by the governing body of an organization, to direct and limit its actions in pursuit of long-term goals.
- The procedures or direction given by top management on how things are done in the company or the guidelines of how we should perform our duties.
EXAMPLE:
One you know policy, and follow it, statistics go up.
