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floating policy
noun
- (in marine insurance) a policy that provides protection of a broad nature for shipments of merchandise and that is valid continuously until canceled.
floating policy
noun
- (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
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Word History and Origins
Origin of floating policy1
An Americanism dating back to 1830–40
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