floating policy

American  

noun

1. (in marine insurance) a policy that provides protection of a broad nature for shipments of merchandise and that is valid continuously until canceled.

2. floater.

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floating policy British  

noun

1. (in marine insurance) a policy covering loss of or damage to specified goods irrespective of the ship in which they are consigned

2. another term for floater

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Etymology

Origin of floating policy

An Americanism dating back to 1830–40

Example Sentences

TOKYO—After nearly two decades of watching Japan fight stagnation with increasingly aggressive doses of monetary medicine, some economists are now floating policy prescriptions from the Twilight Zone of central banking.

From The Wall Street Journal

Clay had insured the vessel and his shipments by her on a kind of floating policy.

From Project Gutenberg