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floating policy

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(def 7).
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Origin of floating policy

An Americanism dating back to 1830–40
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
British Dictionary definitions for floating policy

floating policy

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 (def. 4)
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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