Strike Insurance

What Does Strike Insurance Mean?

Strike insurance is a type of policy that covers financial losses for a business owner if their employees go on strike, stage a walkout, or engage in any other form of disruption that halts business operations. If the strike continues, the strike insurance company compensates the business owner for the income lost due to the temporary shutdown.

Insuranceopedia Explains Strike Insurance

Most business insurance policies do not cover financial losses from strikes, so employers must purchase strike insurance separately. Typically, coverage is purchased up to a specific limit for each day the business operations are shut down. However, these policies do not cover strikes that last indefinitely. The coverage amount and duration vary depending on the specific policy.