a continuous policy covering goods of a class subject to changes in volume, usually requiring periodic reports of values.
From “Great Society” to “Green New Deal”: How Do Politicians Name Policies?If the success of a political program is at least partly dependent on what it's called, what does it take for a name like the Green New Deal to stand out?
Origin of open policy
First recorded in 1875–80
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for open policy
an insurance policy in which the amount payable in the event of a claim is settled after the loss or damage has occurredCompare valued policy
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012