# Policies

Entities can have roles on the policy that enable various on-chain and off-chain functions. The most important are Insured Party and Capital Provider.

Commissions on premiums can be paid to a configurable set of entities.

A set commission on premiums is paid to Nayms, Ltd and to the Nayms Discretionary Fund (NDF)

A policy has defined premiums and other data that are stored off chain.

All offchain data related to a policy are hashed and the hash is stored on chain.

A policy must be approved my a Nayms System Manager in order to go into effect. Technically, a policy is only created on chain when it is already approved.

Currently there is only one type of Policy called "Simple Policy". Other types may be implemented in the future