What type of Inland Marine policy provides coverage for goods in transit and remains effective until canceled by the involved parties?

The Open Cargo Policy is designed specifically to cover goods in transit. It provides broad coverage for various types of shipments and is not limited to a specific destination or type of cargo. This type of policy remains in effect until it is canceled by either party, allowing for flexibility and continuity in coverage for ongoing shipments.

An Annual Transit Policy, while also covering goods in transit, typically covers all shipments made over the course of a year for a specified premium amount. However, it may have time limitations and does not inherently provide the same level of flexibility as an Open Cargo Policy.

A Personal Articles Floater is aimed at individual personal possessions rather than commercial goods and usually covers specific items for loss or damage; it does not apply to goods being transported in a commercial context.

A Name Schedule Bond pertains to a specific type of surety bond that guarantees the performance of certain duties and does not relate to cargo or goods in transit.

Therefore, the Open Cargo Policy is the most fitting option for coverage of goods in transit with the specified condition of remaining effective until canceled.