Open policy, Marketing Research

Assignment Help:

Open Policy : Also known as Floating Policy, it has much in a common with the Open Cover. This policy benefits clients with substantial turnover and a large number of despatches. Thus, it covers a series of consignments with all stipulations of the Open Cover, except that :

i) Open Policy is an enforceable contract of insurance and is hence, duly stamped; and

ii) Open Policy is for an agreed amount, against which a series of consignments may be despatched and declared as a result of which the sum insured will gradually diminish by the amount of each declaration until it is finally exhausted.

iii)Even though the Open Policy ceases on expiry of one year from the date of its issue, the sum insured is of paramount importance. Therefore, the sum insured may exhaust prior to the expiry of the policy.

iv)Open Policy is subject to cancellation by either party after giving 15 days notice of cancellation in writing.

 


Related Discussions:- Open policy

What are the benefits of survey methods, What are the benefits of survey me...

What are the benefits of survey methods Survey methods provide several benefits, there are numerous limitations also. These limitations stem mostly from respondent errors, inst

Selecting specific media vehicles, give the example on this... media planne...

give the example on this... media planner must compute the cost per thousand persons reached by a vehicles

Comparison between sampling errors and non sampling errors, a.Sampling erro...

a.Sampling error is measurable while it is not easy to measure a non sampling errors. b.Sampling error decrease as the sample size increase. This is not necessarily so in the ca

Compare descriptive and causal reserach design, Compare and contrast explor...

Compare and contrast exploratory, descriptive and causal research designs. Answer Objective of exploratory design is to discover ideas and insights; of descriptive design

International trade theory, explain the opportunity costs theory and nature...

explain the opportunity costs theory and nature of the opportunity costs ?

Amount-packing credit, Amount: The loan amount is decided on the basis of ...

Amount: The loan amount is decided on the basis of export order and the credit rating of the exporter by the bank. Generally the amount of packing credit will not exceed FOB value

Marketing inteligence, Evaluate the relationship between brand loyalty, cor...

Evaluate the relationship between brand loyalty, corporate image and repeat purchase

How does the customer use the information obtained, Q. How does the custome...

Q. How does the customer use the information obtained? A significant determinant of the extent of evaluation is whether the customer feels 'involved' in the product. By partici

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd