Institute Strikes Clauses

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The insurance under Institute Strikes Clauses (Cargo[1])/ (Air Cargo[2]) covers specific risks subject to the exclusions as listed in the above clauses. The insured risks are loss or damage to the subject matter insured caused by [3]:

  • Strikers, locked-out workmen, or persons taking part in labor disturbances, riots or civil commotions
  • Any terrorist or any person acting from a political motive.

The main exclusions mentioned in those clauses relates to loss damage or expense caused by:

  • Willful misconduct of the assured
  • Ordinary leakage/loss in weight , ordinary wear and tear
  • Insufficiency or unsuitability of packing or preparation of the subject matter insured.
  • Delay, even if the delay caused by a risk insured against
  • Insolvency or financial default of the owners managers charterers or operators of the vessel
  • War risks

References

  1. Institute Strikes Clauses (Cargo), 2009 | http://www.coast-uw.com/cargo/clauses/download/Strikes(Cargo).pdf
  2. Institute Strikes Clauses (Air Cargo), 2009 | http://www.coast-uw.com/cargo/clauses/download/Strikes(Air).pdf
  3. http://www.atlas-insurances.com/STRIKES.htm
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