Meaning Of The Word Open policy

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What's the definition of Open policy? Find Open policy meanings, definitions and more at the Real Dictionary online.

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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