- (in marine insurance) a policy that provides protection of a broad nature for shipments of merchandise and that is valid continuously until canceled.
- floater(def 7).
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
- (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)