open policy

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

1875–80 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
open policy
Compare 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

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Despite our open policy, the population in surrounding communities was not overly friendly.
Its open policy has made it a magnet for foreign investors.
The pool for an open policy tends to expand and to include younger, healthier people.
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