The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

OPEN POLICY Definition & Legal Meaning

Definition & Citations:

Cargo insurance that provides compensation for damage to or loss of goods that were carried in a specified vessel or by a specified company, within a specific period. According to the policy, a detailed description of the goods, such as costs and quantities of goods, must be provided by the policy holder at regular intervals.

Disclaimer

This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.