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An open cover is an agreement (not a policy) whereby the insurer will accept insurance of all shipments made by the assured, within the terms of the cover for a fixed period, usually for 12 months.
Product Highlights: - An open cover is an agreement (not a policy) whereby the insurer will accept insurance of all shipments made by the assured, within the terms of the cover for a fixed period, usually for 12 months. Being an agreement, it is not stamped. However, stamped policies or certificates of insurance are issued against the declaration made by the assured. The open cover is of great convenience to the clients engaged in regular import/export trade.
