| 释义 |
open policy
open policy n (Insurance) an insurance policy in which the amount payable in the event of a claim is settled after the loss or damage has occurred. Compare valued policy Open policy
OPEN POLICY. An open policy is one in which the amount of the interest of the insured is not fixed by the policy, and is to be ascertained in case of loss. Vide Policy. Open Policy
Open PolicyA marine cargo insurance policy issued to cover various unspecified exports over the life of the policy.Open PolicyIn 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. |