What term refers to Inland Marine policies that cover mobile property?

• A. Floater
• B. Coverage
• C. Policyholder
• D. Endorsement

Answer: (A)

The term that refers to Inland Marine policies covering mobile property is "Floater." This terminology is specifically used in the insurance industry to describe policies designed to cover personal property that is not fixed in one location and can move from one place to another. Floaters provide coverage for items like jewelry, artwork, and equipment that are often transported or used in various locations, thus fitting the needs of individuals and businesses with mobile property.

Inland Marine insurance originated from ocean marine insurance and has evolved to address the risks associated with property in transit or movable items. A floater allows for flexibility, ensuring that the insured items are protected wherever they might be, as long as they are within the coverage limits.

The other terms do not correctly identify this type of coverage. "Coverage" is a general term that describes the extent of protection provided under an insurance policy but doesn't specifically refer to mobile property. "Policyholder" is the individual or entity that owns the insurance policy, and "Endorsement" refers to a modification or addition to an existing insurance policy that alters its terms or coverage but does not define the type of policy itself. Thus, "Floater" is the precise term that encapsulates the concept of insurance for mobile property under Inland Marine policies.