Open Policy

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Open Policy

A marine cargo insurance policy issued to cover various unspecified exports over the life of the policy.

Open Policy

In maritime commerce, an insurance policy stating that the insurer is responsible for partial losses on the value of the covered products without stating what is specifically covered. Sometimes open policies include a deductible and sometimes they do not. Depending on the amount of the deductible, the insurer of an open policy will be liable for losses if some of the products break in transit, regardless of the reason. See also: WPA.
References in periodicals archive ?
Part of our overall development strategy, in line with Guangdong's economic reform and open policies, is to cooperate with large multinational IT companies such as Cisco Systems to develop southern China's telecommunications industry.
Summary: DUBAI u Diplomats from the European Union said on Saturday that they were satisfied with the pace of the UAEAEs economic growth and its transparent and open policies.
Chiou reiterated that the present administration under Taiwan President Chen Shui-bian will continue to engage in efforts to promote open policies toward mainland China, and he also called for support from the international community.
We need to (put in) a lot of effort, and we need to spend a lot of time to build up the sense of trust of both sides,'' he said, in reference to the mainland China's current wait-and-see attitude toward Chen's open policies.
31, 1995) and the average estimated annual yield on open policies not yet due as of Dec.