Open cover is provided to insured having substantial international trade import / export. The terms and conditions of the cover are finalised, the insured pays premium in advance and the insurance company issues specific  stamped policies / certificates of insurance against each declaration provided by the insured.

The main advantages of this policy are that the agreed terms are automatically applicable to each and every consignment ; no shipment remains uninsured  through oversight, inadvertent omission/ delay in making declaration and the sum insured never gets exhausted.