floater

noun | float·er

1. : a policy or supplemental attachment to a policy insuring specific items of personal property (as jewelry or art); specifically : a policy of insurance to protect against loss or damage of goods in transit or goods (as jewels) naturally subject to use in various places — called also floating policy : a policy of insurance to protect against loss or damage of goods in transit or goods (as jewels) naturally subject to use in various places — called also floating policy

2. : a debt security that yields an indexed variable rate of interest; especially : floating rate note at note : floating rate note at note