Open Policy

Tags: Glossary

An insurance policy providing coverage for a specified period of time, rather than for a specific shipment or voyage.

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Al Sharqi Shipping is a leader in the logistics industry with more than 30 years of experience in guiding and moving freight across the globe.

What is an Open Policy?

An Open Policy is a type of marine insurance policy that is designed to provide coverage for all of the insured’s shipments within a specified period, usually one year. The policy provides broad coverage for goods in transit, including coverage for losses or damages caused by accidents, theft, and natural disasters. 

Related Glossary terms

All Risk Insurance

Bonded Indemnity

Credit Risk Insurance

Most Favored Nation (MFN)

Open Account

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