A strike can be defined as: “Any form of industrial action taken by workers which is carried on with the intention of preventing, restricting or otherwise interfering with the production of goods or the provision of services.”

We can also provide cover for Charterers against delays caused by a strike of owner’s crew.

Strikes can result in cashflow difficulties for an operator and may lead to a reduction in operating profits. Transmarine’s cover provides valuable financial protection for an operator’s daily costs arising from such an event

Perils

Our CLASS I Terms & Conditions state that:

A strike can be defined as: “Any form of industrial action taken by workers which is carried on with the intention of preventing, restricting or otherwise interfering with the production of goods or the provision of services.”

An Assured may be entitled to compensation for any Applicable Delay(s) occurring during the Policy Year and suffered by an Insured Vessel whilst at or off any port as a result of one or more of the following risks:

1. Strike or Lockout (other than a Crew Strike)
   Strikes can result in cashflow difficulties for an operator and may lead to a reduction in operating profits. Transmarine’s cover provides valuable financial protection for the daily costs arising from such an event which fall on owner or manager of a vessel.
2. Crew Strikes
   We can also provide cover for charterers against delays caused by a strike of owners crew.