no personal experience - but I rember to have read (I think here at Webflyer's homepage) that with awards-ticket you are not rerouted on other carriers - you just hav eto postpone your flight.

In may case, my Swiss-Automobil-worldwide-travel-"insurance" ("TCS-Schutzbrief" in german) would cover my costs (for the return trip with an other carrier, if the strike starts during my travels, and for cancellation costs in general if the airline doesn't fly: hotels, travel arrangements etc.).