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

Given the pace of change and the difficulty of predicting the future, it’s surely a little early to start floating policy proposals.

From Slate • May 3, 2013

The West Wing became a floating policy meeting that gave way to a scheduling meeting that segued into a message-development meeting.

From Time Magazine Archive

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

From The Secret of the Reef by Bindloss, Harold