diff --git a/changes/issue-3300-policies-not-yet-accurate b/changes/issue-3300-policies-not-yet-accurate
new file mode 100644
index 0000000000..7678d32552
--- /dev/null
+++ b/changes/issue-3300-policies-not-yet-accurate
@@ -0,0 +1 @@
+* Indicate if a policy has not completed an initial run
\ No newline at end of file
diff --git a/cypress/integration/all/app/policiesflow.spec.ts b/cypress/integration/all/app/policiesflow.spec.ts
index 92e64a052b..6d4fa456fe 100644
--- a/cypress/integration/all/app/policiesflow.spec.ts
+++ b/cypress/integration/all/app/policiesflow.spec.ts
@@ -332,6 +332,8 @@ describe("Policies flow (seeded)", () => {
       cy.visit("/policies/manage");
     });
     it("links to manage host page filtered by policy", () => {
+      // Move internal clock forward 2 hours so that policies report host results
+      cy.clock(Date.now() + 1000 * 60 * 120);
       cy.getAttached(".failing_host_count__cell")
         .first()
         .within(() => {
diff --git a/frontend/components/TableContainer/DataTable/TextCell/TextCell.tsx b/frontend/components/TableContainer/DataTable/TextCell/TextCell.tsx
index c96dff4d23..073b39a2ed 100644
--- a/frontend/components/TableContainer/DataTable/TextCell/TextCell.tsx
+++ b/frontend/components/TableContainer/DataTable/TextCell/TextCell.tsx
@@ -11,7 +11,7 @@ const TextCell = ({
   value,
   formatter = (val) => val, // identity function if no formatter is provided
   greyed,
-  classes: className = "w250",
+  classes = "w250",
 }: ITextCellProps): JSX.Element => {
   let val = value;
 
@@ -20,7 +20,7 @@ const TextCell = ({
   }
 
   return (
-    <span className={`text-cell ${className} ${greyed || ""}`}>
+    <span className={`text-cell ${classes} ${greyed || ""}`}>
       {formatter(val)}
     </span>
   );
diff --git a/frontend/interfaces/policy.ts b/frontend/interfaces/policy.ts
index a43569d180..583c83ff74 100644
--- a/frontend/interfaces/policy.ts
+++ b/frontend/interfaces/policy.ts
@@ -37,6 +37,8 @@ export interface IPolicyStats extends IPolicy {
   passing_host_count: number;
   failing_host_count: number;
   webhook: string;
+  has_run: boolean;
+  osquery_policy_ms: number;
 }
 
 // Used on the host details page and other places where the status of individual hosts are displayed
diff --git a/frontend/pages/policies/ManagePoliciesPage/ManagePoliciesPage.tsx b/frontend/pages/policies/ManagePoliciesPage/ManagePoliciesPage.tsx
index fd70f8e48e..52094f3a84 100644
--- a/frontend/pages/policies/ManagePoliciesPage/ManagePoliciesPage.tsx
+++ b/frontend/pages/policies/ManagePoliciesPage/ManagePoliciesPage.tsx
@@ -7,7 +7,6 @@ import { AppContext } from "context/app";
 import { PolicyContext } from "context/policy";
 import { TableContext } from "context/table";
 import { NotificationContext } from "context/notification";
-import { inMilliseconds, secondsToHms } from "fleet/helpers";
 import { IPolicyStats, ILoadAllPoliciesResponse } from "interfaces/policy";
 import { IWebhookFailingPolicies } from "interfaces/webhook";
 import { IConfig } from "interfaces/config";
@@ -20,7 +19,6 @@ import usersAPI, { IGetMeResponse } from "services/entities/users";
 
 import Button from "components/buttons/Button";
 import RevealButton from "components/buttons/RevealButton";
-import InfoBanner from "components/InfoBanner/InfoBanner";
 import Spinner from "components/Spinner";
 import TeamsDropdown from "components/TeamsDropdown";
 import TableDataError from "components/TableDataError";
@@ -43,16 +41,12 @@ interface IManagePoliciesPageProps {
 
 const baseClass = "manage-policies-page";
 
-const DOCS_LINK =
-  "https://fleetdm.com/docs/deploying/configuration#osquery-policy-update-interval";
-
 const ManagePolicyPage = ({
   router,
   location,
 }: IManagePoliciesPageProps): JSX.Element => {
   const {
     availableTeams,
-    config,
     isGlobalAdmin,
     isGlobalMaintainer,
     isOnGlobalTeam,
@@ -75,7 +69,6 @@ const ManagePolicyPage = ({
   const {
     setLastEditedQueryName,
     setLastEditedQueryDescription,
-    setLastEditedQueryBody,
     setLastEditedQueryResolution,
     setLastEditedQueryPlatform,
   } = useContext(PolicyContext);
@@ -282,17 +275,8 @@ const ManagePolicyPage = ({
     }`;
   };
 
-  const policyUpdateInterval =
-    secondsToHms(
-      inMilliseconds(config?.update_interval.osquery_policy || 0) / 1000
-    ) || "osquery policy update interval";
-
   const showTeamDescription = isPremiumTier && !!teamId;
 
-  const showInfoBanner =
-    (teamId && !teamPoliciesError && !!teamPolicies?.length) ||
-    (!teamId && !globalPoliciesError && !!globalPolicies?.length);
-
   const showInheritedPoliciesButton =
     !!teamId &&
     !isLoadingTeamPolicies &&
@@ -395,23 +379,6 @@ const ManagePolicyPage = ({
             </p>
           )}
         </div>
-        {!!policyUpdateInterval && showInfoBanner && (
-          <InfoBanner className={`${baseClass}__sandbox-info`}>
-            <p>
-              Your policies are checked every{" "}
-              <b>{policyUpdateInterval.trim()}</b>.{" "}
-              {isGlobalAdmin && (
-                <span>
-                  Check out the Fleet documentation on{" "}
-                  <a href={DOCS_LINK} target="_blank" rel="noreferrer">
-                    <b>how to edit this frequency</b>
-                  </a>
-                  .
-                </span>
-              )}
-            </p>
-          </InfoBanner>
-        )}
         <div>
           {!!teamId && teamPoliciesError && <TableDataError />}
           {!!teamId &&
diff --git a/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/PoliciesListWrapper.tsx b/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/PoliciesListWrapper.tsx
index b70fd352e5..5201d23dc9 100644
--- a/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/PoliciesListWrapper.tsx
+++ b/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/PoliciesListWrapper.tsx
@@ -1,4 +1,5 @@
-import React from "react";
+import React, { useContext } from "react";
+import { AppContext } from "context/app";
 import { noop } from "lodash";
 import paths from "router/paths";
 
@@ -42,6 +43,8 @@ const PoliciesListWrapper = ({
 }: IPoliciesListWrapperProps): JSX.Element => {
   const { MANAGE_HOSTS } = paths;
 
+  const { config } = useContext(AppContext);
+
   const NoPolicies = () => {
     return (
       <div
@@ -105,7 +108,11 @@ const PoliciesListWrapper = ({
             canAddOrRemovePolicy,
             tableType,
           })}
-          data={generateDataSet(policiesList, currentAutomatedPolicies)}
+          data={generateDataSet(
+            policiesList,
+            currentAutomatedPolicies,
+            config?.update_interval.osquery_policy
+          )}
           isLoading={isLoading}
           defaultSortHeader={"name"}
           defaultSortDirection={"asc"}
diff --git a/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/PoliciesTableConfig.tsx b/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/PoliciesTableConfig.tsx
index 965bdc895d..62415b93e6 100644
--- a/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/PoliciesTableConfig.tsx
+++ b/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/PoliciesTableConfig.tsx
@@ -2,7 +2,8 @@
 // disable this rule as it was throwing an error in Header and Cell component
 // definitions for the selection row for some reason when we dont really need it.
 import React from "react";
-
+import { millisecondsToHours, millisecondsToMinutes, isAfter } from "date-fns";
+import ReactTooltip from "react-tooltip";
 // @ts-ignore
 import Checkbox from "components/forms/fields/Checkbox";
 import LinkCell from "components/TableContainer/DataTable/LinkCell/LinkCell";
@@ -66,6 +67,29 @@ interface IDataColumn {
   sortType?: string;
 }
 
+const getPolicyRefreshTime = (ms: number): string => {
+  const seconds = ms / 1000;
+  if (seconds < 60) {
+    return `${seconds} seconds`;
+  }
+  if (seconds < 3600) {
+    const minutes = millisecondsToMinutes(ms);
+    return `${minutes} minute${minutes > 1 ? "s" : ""}`;
+  }
+  const hours = millisecondsToHours(ms);
+  return `${hours} hour${hours > 1 ? "s" : ""}`;
+};
+
+const getTooltip = (osqueryPolicyMs: number): JSX.Element => {
+  return (
+    <span className={`tooltip__tooltip-text`}>
+      Fleet is collecting policy results. Try again
+      <br />
+      in about {getPolicyRefreshTime(osqueryPolicyMs)} as the system catches up.
+    </span>
+  );
+};
+
 // NOTE: cellProps come from react-table
 // more info here https://react-table.tanstack.com/docs/api/useTable#cell-properties
 const generateTableHeaders = (options: {
@@ -102,6 +126,7 @@ const generateTableHeaders = (options: {
             <LinkCell
               value={cellProps.cell.value}
               path={PATHS.EDIT_POLICY(cellProps.row.original)}
+              classes="" // Override default
             />
           ),
         },
@@ -115,19 +140,46 @@ const generateTableHeaders = (options: {
           ),
           disableSortBy: true,
           accessor: "passing_host_count",
-          Cell: (cellProps: ICellProps): JSX.Element => (
-            <LinkCell
-              value={`${cellProps.cell.value} hosts`}
-              path={
-                PATHS.MANAGE_HOSTS +
-                TAGGED_TEMPLATES.hostsByPolicyRoute(
-                  cellProps.row.original.id,
-                  PolicyResponse.PASSING,
-                  selectedTeamId
-                )
-              }
-            />
-          ),
+          Cell: (cellProps: ICellProps): JSX.Element => {
+            if (cellProps.row.original.has_run) {
+              return (
+                <LinkCell
+                  value={`${cellProps.cell.value} host${
+                    cellProps.cell.value.toString() === "1" ? "" : "s"
+                  }`}
+                  path={
+                    PATHS.MANAGE_HOSTS +
+                    TAGGED_TEMPLATES.hostsByPolicyRoute(
+                      cellProps.row.original.id,
+                      PolicyResponse.PASSING,
+                      selectedTeamId
+                    )
+                  }
+                />
+              );
+            }
+            return (
+              <>
+                <span
+                  className="text-cell text-muted has-not-run"
+                  data-tip
+                  data-for={`passing_${cellProps.row.original.id.toString()}`}
+                >
+                  ---
+                </span>
+                <ReactTooltip
+                  place="bottom"
+                  type="dark"
+                  effect="solid"
+                  backgroundColor="#3e4771"
+                  id={`passing_${cellProps.row.original.id.toString()}`}
+                  data-html
+                >
+                  {getTooltip(cellProps.row.original.osquery_policy_ms)}
+                </ReactTooltip>
+              </>
+            );
+          },
         },
         {
           title: "No",
@@ -139,19 +191,46 @@ const generateTableHeaders = (options: {
           ),
           disableSortBy: true,
           accessor: "failing_host_count",
-          Cell: (cellProps: ICellProps): JSX.Element => (
-            <LinkCell
-              value={`${cellProps.cell.value} hosts`}
-              path={
-                PATHS.MANAGE_HOSTS +
-                TAGGED_TEMPLATES.hostsByPolicyRoute(
-                  cellProps.row.original.id,
-                  PolicyResponse.FAILING,
-                  selectedTeamId
-                )
-              }
-            />
-          ),
+          Cell: (cellProps: ICellProps): JSX.Element => {
+            if (cellProps.row.original.has_run) {
+              return (
+                <LinkCell
+                  value={`${cellProps.cell.value} host${
+                    cellProps.cell.value.toString() === "1" ? "" : "s"
+                  }`}
+                  path={
+                    PATHS.MANAGE_HOSTS +
+                    TAGGED_TEMPLATES.hostsByPolicyRoute(
+                      cellProps.row.original.id,
+                      PolicyResponse.FAILING,
+                      selectedTeamId
+                    )
+                  }
+                />
+              );
+            }
+            return (
+              <>
+                <span
+                  className="text-cell text-muted has-not-run"
+                  data-tip
+                  data-for={`failing_${cellProps.row.original.id.toString()}`}
+                >
+                  ---
+                </span>
+                <ReactTooltip
+                  place="bottom"
+                  type="dark"
+                  effect="solid"
+                  backgroundColor="#3e4771"
+                  id={`failing_${cellProps.row.original.id.toString()}`}
+                  data-html
+                >
+                  {getTooltip(cellProps.row.original.osquery_policy_ms)}
+                </ReactTooltip>
+              </>
+            );
+          },
         },
       ];
 
@@ -200,17 +279,36 @@ const generateTableHeaders = (options: {
 
 const generateDataSet = (
   policiesList: IPolicyStats[] = [],
-  currentAutomatedPolicies?: number[]
+  currentAutomatedPolicies?: number[],
+  osquery_policy?: number
 ): IPolicyStats[] => {
   policiesList = policiesList.sort((a, b) =>
     sortUtils.caseInsensitiveAsc(a.name, b.name)
   );
+  let policiesLastRun: Date;
+  let osqueryPolicyMs: number;
 
-  policiesList.forEach((policy) => {
-    policy.webhook =
-      currentAutomatedPolicies && currentAutomatedPolicies.includes(policy.id)
+  if (osquery_policy) {
+    osqueryPolicyMs = osquery_policy / 1000000;
+    // Convert from nanosecond to milliseconds
+    policiesLastRun = new Date(Date.now() - osqueryPolicyMs);
+  }
+
+  policiesList.forEach((policyItem) => {
+    policyItem.webhook =
+      currentAutomatedPolicies &&
+      currentAutomatedPolicies.includes(policyItem.id)
         ? "On"
         : "Off";
+
+    // Define policy has_run based on updated_at compared againist last time policies ran as
+    // defined by osquery_policy.
+    policyItem.has_run = isAfter(
+      policiesLastRun,
+      new Date(policyItem.updated_at)
+    );
+    // Include osquery policy in item for reference in tooltip
+    policyItem.osquery_policy_ms = osqueryPolicyMs;
   });
 
   return policiesList;
diff --git a/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/_styles.scss b/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/_styles.scss
index af39273a27..ae50d0c608 100644
--- a/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/_styles.scss
+++ b/frontend/pages/policies/ManagePoliciesPage/components/PoliciesListWrapper/_styles.scss
@@ -33,6 +33,10 @@
   }
 }
 
+.has-not-run {
+  width: 20px;
+}
+
 .no-policies {
   display: flex;
   flex-direction: column;