Meaning Of The Word Open policy

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Open policy Meaning

Open policy Definition
Open policy Definition

What's The Definition Of Open policy?

open policy in American English
noun: a continuous policy covering goods of a class subject to changes in volume, usually requiring periodic reports of values

open policy in British English
noun: an insurance policy in which the amount payable in the event of a claim is settled after the loss or damage has occurred

open policy in Insurance
noun: In marine insurance, an open policy is insurance for particular goods in which claims are settled on an ongoing basis after the loss or damage has occurred.

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