Dictionary.com

open policy

noun Insurance.

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

QUIZZES

TAKE THIS QUIZ IF A DAZZLING VOCABULARY IS YOUR DESIDERATUM!

Have the Words of the Day from October 19–25, 2020, made an indelible mark on your memory? Take the quiz to find out!
Question 1 of 7
What does “clement” mean?
having or claiming to have the power of seeing objects or actions beyond the range of natural vision.
mild or merciful in disposition or character; lenient; compassionate.
favorite; cherished.
TAKE THE QUIZ TO FIND OUT

Origin of open policy

First recorded in 1875–80

Words nearby open policy

open one's mouth, open order, open-pit, open plan, open pneumothorax, open policy, open-pollinated, open position, open primary, open prison, open punctuation
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

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