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. See valued policy
   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

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

From The Daily Beast

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 Project Gutenberg

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

From Project Gutenberg

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.

From Project Gutenberg