UK: Insurers strike while the iron is cold - strike insurance.

UK: Insurers strike while the iron is cold - strike insurance. - The provision of strike insurance might seen an unlikely venture in these tranquil times: the latest figure shows just 765,000 working days lost through disputes in the year to November 199

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Last Updated: 31 Aug 2010

The provision of strike insurance might seen an unlikely venture in these tranquil times: the latest figure shows just 765,000 working days lost through disputes in the year to November 1991, a fall of 72% on the previous year. Yet, some say (and insurers seem to concur), take away the restraint of recession and the old hostilities will soon resume. Previously strike insurance has been available only to shipping, providing cover for cargo in the vent of a dock strike. Now, explains insurance consultant Alan Broad, policies are open to all sectors. This mostly takes the form of cover against loss of revenue or the extra operational costs. Currently Broad is examining the insurance needs of manufacturers operating a Just-In-Time system, where a disruption at any one supplier might prove crippling. Conversely, companies can insure against their customers refusing or unable to accept their goods. Yet what perhaps makes this potentially limitless webb of insurance and counter-insurance most interesting is the assured confidentiality - "Of course," Broad says, "no one will be able to tell who is insured against whom."

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