American Express Membership Rewards - Travel Insurance - Industrial Action

A search did not really yield much. Two questions:

Scenario 1:
If I have bought tickets on BA (non-changeable, non-refundable WT+). If I then find out that my flight is delayed due to Industrial Action. I am still in the UK due to start my trip (i.e. am on the outward leg).

Reading the policy, if I am delayed by more than 12 hours, I am covered for £7500 - old Cent policy or £12500 - new Cent policy.

What does this cover?
Can I buy new one way tickets to get me to the destination? If yes, I presume it would be same class of travel. HOWEVER: What if the same class of travel is not available on the other airline (and say only business class is available) - what then?

Scenario 2:
Same as above, but the industrial action happens on the way back.

Reading the policy, this scenario is not covered

Am I covered for anything other than Travel Inconvenience?

I know best is to call Amex Insurance Services - but just wanted to gauge opinion of what others read this as.

Tks

Upon further reading:

In Scenario 1: I think I will only be refunded costs that I have been unable to recover for cancelling my trip, ie. if BA has a strike - and BA offers me a full refund, I will then only get hotel costs back - if I have pre-paid for hotels (which I have not). If BA refuses the refund (which they normally don't) then Amex will pay up for the tickets also. But they will not provide alternative flights. If I am to choose an alternative flight to go on holiday at that time (fares of which will be ridiculously expensive), then I have to pay for it myself....

The only thing I get will be potentially £150/£200 under the travel inconvenience cover under possibly both scenarios 1 & 2 (not sure about scenario 1 though).