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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
We have genuine open policies and we are now winning elections all around the country.
Conceding that his idea sounds ''unrealistic'' in a country with such tight border policies, Kuroda suggested starting with studying the consequences of open policies in Germany, Singapore and Taiwan.
'To attract such investments, more modern and open policies and legislation that mirrors international standards are important; hence, the use of SME,' he suggested.
'Bahrain has always boasted competitive credentials,' he said, stressing open policies, economic infrastructure and solid legislation as key pillars.
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.