The SRCC full form insurance is Strikes, Riots, and Civil Commotion. It is an add-on cover in property and marine insurance policies. It protects against damages because of strikes, riots, protests, civil unrest, and disturbances. This coverage is provided under specific War, Terrorism, and Political Violence (WTPV) policies or under basic property policies as a designated peril and all risk policies. The General Insurance Corporation of India (GIC Re) and private insurers provide this coverage. They ensure financial security against unexpected losses because of civil disruptions.
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I have heard about life insurance, health insurance, car insurance and a lot more but I had no clue about what is SRCC full form Insurance and meaning. After hearing it for the first time, I asked my father about it and he said that it stands for Strikes, Riots and Civil Commotion Clause. Now the obvious question to arise is
what is SRCC in insurance or at least its aim? Now this is a type of insurance that refers to physical loss or damage that is caused by the employers of a company or by strikers, locked-out workers and more. I can share more details on this topic for your understanding.
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What is the SRCC Insurance definition?
SRCC is an insurance clause that indicates the physical loss that occurs suddenly without notice and is caused by people associated with a particular company/ institute/ organization or more. Now this is mainly related to marine insurance which does not cover such actions.
For example suppose workers started to protest suddenly or there aroused serious strikers among the people or suppose there starts a war, the insurance company is not liable to pay for its losses then. Policies in the cargo market are different from others so if you are planning to opt for such an insurance, do read the terms clearly before signing it.
I hope
SRCC full form Insurance and meaning is clear to you now.
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What is SRCC in Insurance?
Mandeep
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2022-09-07T09:12:32+00:00 2025-03-11T08:33:43+00:00Comment
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