open policy


noun Insurance.

a continuous policy covering goods of a class subject to changes in volume, usually requiring periodic reports of values.

Nearby words

  1. open one's mouth,
  2. open order,
  3. open pit,
  4. open plan,
  5. open pneumothorax,
  6. open position,
  7. open primary,
  8. open prison,
  9. open punctuation,
  10. open question

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

open policy

noun

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