open-policy

open policy

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

Origin:
1875–80

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To open-policy
Collins
World English Dictionary
open policy
 
n
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
Cite This Source
Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature