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

Pan Yuan, a researcher at the Chinese Academy of Social Sciences, a top government think tank, said despite Biden's restrictions, China will maintain an open policy to attract foreign capital.

From Reuters

“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

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

From Reuters

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

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