A flexible insulating liner strip or member comprises an elongated flexible structure that can be cut to length and positioned between a race of a bearing and a bearing housing to electrically insulate the bearing race from the bearing housing and/or other components. The flexible insulating liner strip may be segmented to provide flexibility, and one or more portions of the flexible insulating liner strip may be curved to accommodate variations in the dimensions of bearing housings and races. The flexible insulating liner strip provides a cost-effective way to electrically insulate bearings.