(in marine insurance) a policy that provides protection of a broad nature for shipments of merchandise and that is valid continuously until canceled.
From “Great Society” to “Green New Deal”: How Do Politicians Name Policies?If the success of a political program is at least partly dependent on what it's called, what does it take for a name like the Green New Deal to stand out?
Origin of floating policy
An Americanism dating back to 1830–40
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for floating policy
(in marine insurance) a policy covering loss of or damage to specified goods irrespective of the ship in which they are consigned
another term for floater (def. 4)
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012