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open policy

noun

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


open policy

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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Word History and Origins

Origin of open policy1

First recorded in 1875–80

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Example Sentences

But the open policy was then curtailed again when border controls tightened significantly following 9/11.

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.

Given a suitable open policy, that minority may become a majority at any time.

We must receive the principal part of the Malays in a friendly way, and it is only by a more open policy that this can be done.

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