A company can be severely affected by industrial action within any part of its supply chain. It may be the innocent third party in a dispute between other parties, but this won't protect its bottom line from issues such as:

• Delays in delivery
• Increased costs of working
• Loss of revenue
• Loss of gross profit
• Lost orders
• Estranged clients
• Legal action for damages because of failure to honour contractual commitments

Cover is provided on a worldwide basis for strike action by named independent third parties, either in the company's own country or in any other territory in which industrial action occurs.

Coverage

Each strike risk is assessed individually on its own merits. Because strike action lasting more than a few days is likely to impact on operations, cover can be set up to accommodate almost any potential loss the business faces, provided the third party is named in the policy. Cover is not designed to provide indemnity against strikes of short duration (a few hours), which may have only a limited impact on the assured's revenue.

Cover explicitly excludes strikes by the company's own workforce, or those of any subsidiary or associated company and cannot be arranged when strike action has been threatened or is already underway.

Proposal form

To download a proposal form, click here.

Marine strikes

We can also provide specialist marine strikes insurance. The outline for this coverage is identical, except that it is possible to insure against strikes by a company's own workforce.