open policy

American  

noun

Insurance.

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

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open policy British  

noun

1. an insurance policy in which the amount payable in the event of a claim is settled after the loss or damage has occurred Compare valued policy

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Etymology

Origin of open policy

First recorded in 1875–80

Example Sentences

Ream base said in a statement that the five-day US visit would "promote cooperation between the two countries", and that it showed Cambodia's "commitment in implementing an open policy, transparent and cooperation with international partners".

From Barron's • Jan. 24, 2026

In his homily, Francis appeared to praise Bahrain's relatively open policy towards non-Muslims.

From Reuters • Nov. 5, 2022

These days, our world is more open and less locked down, but Dunn Gardens continues its lively open policy for both members and “not-yet-members,” adding docent-led tours on Thursdays, Fridays and select Saturdays.

From Seattle Times • Aug. 26, 2022

The border between India and Nepal, barring moments of political tension, has been an example of how an open policy helps frontier people enjoy wider economic choices.

From New York Times • May 19, 2022

I'm telling you because I was sure you'd find out soon what's going on, and because I thought an open policy best.

From Everyman's Land by Williamson, A. M. (Alice Muriel)