Open policy meaning. See examples of OPEN POLICY used in a sentence.
Open policy meaning 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. See examples of OPEN POLICY used in a sentence. An insurance policy in which the amount payable in the event of a claim is settled after the. Oct 5, 2023 · Learn about open policy in property insurance including its definition, how it's used for goods in transit, and the benefits it offers. Define open policy. Click for English pronunciations, examples sentences, video. Jan 31, 2025 · What is the meaning of open policy? The basic use of an open policy is to enable the owner of goods to make a number of shipments and by declaring each shipment, to receive cover. Legal Terms Dictionary open insurance policy - Meaning in Law and Legal Documents, Examples and FAQs. An open insurance policy, or flexible insurance plan, is a type of insurance that allows you to add or change coverage whenever you need, making it easier to adjust to your life changes. Open policy definition: . Understand the specifics of liability limits and premium payments. open policy synonyms, open policy pronunciation, open policy translation, English dictionary definition of open policy. n an insurance policy in which the amount payable in the event of a claim is settled after the loss or damage has occurred. . The meaning of OPEN POLICY is a continuous policy of marine insurance that is terminable by either party after notice, covers specific shipments automatically, and has the premiums determined by the values reported. ribgtymkwhmnejccfursoxfeqcbvyzpkknutiyydiuzkzhyrnr