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

“Uruguay is a very small economy, with preferences for an open policy that has increasing difficulties in accessing markets in agri-food products and needs to improve market access,” Vaillant said.

From Seattle Times • Dec. 6, 2022

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

From Reuters • Nov. 5, 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

And in justice to Mr. Mercier, the French minister here, it must be recorded that he sincerely seconds the open policy of his sovereign.

From Diary from March 4, 1861, to November 12, 1862 by De Gurowski, Adam G., count