open policy

noun Insurance.

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

Origin of open policy

First recorded in 1875–80

Words nearby open policy

open one's heart to, open one's mouth, open order, open plan, open pneumothorax, open policy, open position, open primary, open prison, open punctuation, open question

British Dictionary definitions for open policy

open policy

noun

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