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单词 policy of assurance
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policy of assurance
a. A document containing or constituting a contract by which one party undertakes, in return for payment of a premium, to secure another against financial loss (usually up to a specified amount) by a payment to be made in the event of loss of or damage to property, personal injury, or, in the case of life insurance, the death of the person named in the document; a contract of insurance. In early use more fully policy of assurance.In quot. 1565 apparently translating a French document, although this has not been traced.wager, wagering policy: see the first element.
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society > trade and finance > financial dealings > insurance > [noun] > insurance policy
policy1565
insurance policy1869
1565 in R. G. Marsden Sel. Pleas Court Admiralty (1897) II. 56 Any order made..agaynst the tenor of this present Police of Assuraunce.
1574–5 in R. H. Tawney & E. Power Tudor Econ. Documents (1924) II. 246 The makinge and regestringe of all pollecys and instruments of assuraunce.
1601 Act 43 Eliz. c. 12 By meanes of which Policies of Assurance it commeth to passe, vpon the losse or perishing of any ship, there [etc.].
1641 Rastell's Termes de la Ley (new ed.) f. 219 Policy of Assurance is a course taken by Merchants for the assuring of their adventures upon the sea.
1681 London Gaz. No. 1668/4 That all Persons that Insure their Houses shall have liberty till the First of January 1682, to bring back their Policies, and the Insurers will oblige Themselves and their Security by Indenture on their Policies, to accept of a Surrender, and repay their Premium.
1710 Tatler No. 241. ⁋2 In all the Offices where Policies are drawn upon Lives.
1748 B. Franklin Let. 27 Jan. in Writings (1905) II. 360 I have not insured for anybody... I will send the policy, that you may see it.
1828 N. Webster Amer. Dict. Eng. Lang. at Policy Wagering policies, which insure sums of money, interest or no interest, are illegal.
1848 J. Arnould Law Marine Insurance I. i. ii. 17–19 A wager policy is one which shows on the face of it, that the contract it embodies is not really an insurance, but a wager... An open policy is one in which the value of the subject insured..is left to be estimated in case of loss... A time policy is one in which the limits of the risk are designated only by certain fixed periods of time.
1902 R. G. Marsden in Trans. Royal Hist. Soc. 16 83 A policy of 1545 is the earliest known example of a policy entered into in England. It is a remarkable document, the body of it being in Italian, and the subscriptions in English.
1973 C. Sagan Cosmic Connection (1974) xxv. 184 Lloyd's of London, which insures against the most implausible contingencies, declined to write such a policy.
1991 Which? Mar. 134/2 Insurance companies can limit cover any way they want—it's up to you to buy another policy if you don't like what's on offer.
extracted from policyn.2
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