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 ).

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

Word History and Origins

Origin of floating policy¹

An Americanism dating back to 1830–40