A floating policy is an insurance policy that has only one sum insured although it may cover many items. No division of the total is shown on the policy and the policyholder is often able to add or remove items from the cover without reference to the insurers, provided that the total sum insured is not exceeded. Cover for contractors' plant and mac...
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(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).
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