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

Word History and Origins

Origin of open policy¹

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

The open policy inspired more than a million charities to sign up, including some anti-vaccine groups and organizations Amazon later removed from its registry after the Southern Poverty Law Center described them as militias or hate groups.

From New York Times

“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