Strikes, Riots and Civil Commotion (SRCC)
Talbot AIG provides worldwide cover for SRCC. We can offer protection against property damage and business interruption losses sustained during a committed action by a group of people to disturb the public peace for political purposes or motivations.
Previous events to have triggered SRCC policies include:
- Arab Spring (2010) a series of anti-government protests, uprisings and armed rebellions that spread across North Africa and the Middle East resulting in significant property damage and business interruption.
- Riots in Thailand (2013-2014) during a period of political instability resulted in anti-government protests which lead to extensive property damage and business interruption.
- Riots in Mexico (January 2017) following a rise in fuel prices, resulting in looting, property damage, and business interruption.
- Riots in Haiti (March 2018) during which a hotel was targeted by local civilians resulting in significant property damage
Cover
Talbot AIG has the capacity to provide up to $175 million in cover.
FEATURES |
BENEFITS |
Physical damage |
Damage to business property as a result of strike or riot action caused by civilian protest. |
Business interruption |
Cover for loss of income resulting from strikes, riots or civil commotion. |
Extra expense |
Cover for additional costs in excess of normal operating expenses that are incurred to continue operations while property is repaired or replaced. |
Denial of access |
Cover is provided in the event that an authority deems that operations must cease either wholly or partially. |
Clear and comprehensive wording |
A clear wording which details exactly what is covered and excluded and that clearly defines triggers for cover. |