Sentences with open policy
o·pen pol·i·cy
O o - Whether cargoes are insured for a particular voyage or under open policies depends upon the volume and regularity with which a shipper uses ocean transit.The basic use of an open policy is to enable the owner of goods to make a number of shipments and by declaring each shipment, to receive cover.In marine insurance, an open policy is insurance for particular goods in which claims are settled on an ongoing basis after the loss or damage has occurred.