Strike Insurance

Strike Insurance

An insurance policy that protects the policyholder from losses due to strikes, lock-outs or other actions involving employees. Most insurance policies do not cover strikes, so strike insurance must be purchased separately. As with all insurance, one must pay a premium to receive coverage.
References in periodicals archive ?
A hospital spokesman said UMass Memorial does not have strike insurance.
As owners dug in their heels, eventually acquired strike insurance, and prepared for the defeat of the union, the players were driven reluctantly to consider the strike option.
Some also view strike insurance as potentially working against the public good, by reducing the incentive for parties involved in a labor dispute to settle.
One possible--and potentially positive--outcome of the lockout, predicts Betterley, could be a heightened focus on the feasibility of developing and offering third-party strike insurance on a more widespread basis.
Likewise, strike insurance is available through specialty companies and may also have been carried by some of the insureds impacted by the lockout.
There will be several lost voyages and increased costs, some of which is expected to be recovered through surcharges and some through strike insurance cover.
Social changes, such as the rise of labor unions in the 1900s and civil unrest in the 1960s, spawned new insurance products, like strike insurance and government-sponsored riot reinsurance.
At the turn of the century, America's work force was becoming more organized, a trend that led to more labor strikes and strike insurance.
With strike insurance still in its infancy in the 20th century's first decade, few insurers knew much about it.