Definition - What does Strike Insurance mean?
Strike insurance is a type of policy that covers the financial losses to a business owner if their employees go on strike, stage a walkout, or organize some other type of interruption that shuts down business operations. If a strike continues, the strike insurance company pays the business owner to cover the income lost from being temporarily shut down.
Insuranceopedia explains Strike Insurance
Most business insurance policies do not cover financial losses from strikes. As a result, employers must purchase strike insurance separately. Typically, you purchase coverage up to a certain limit for every day your business operations are shut down. However, these policies do not cover strikes that go on indefinitely. The coverage amount and length depends on each policy.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.