07 April 2020 – Provided funding for supplier insurance

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Business support
Sectors Involved: Industry interventions
Level of Jurisdiction: National
Lead People/Agency:

Overview: The government has allocated €12 billion to provide insurance for suppliers of goods. Many shops and retailers are supplied goods on the basis of supplier credit, which is insurance taken out by the supplier in case payment is not made on the goods (businesses usually have 30 or 60 days to pay their products to the supplier).

Currently, insurers are facing increasing risks and may reduce or withdraw the insurance limits on companies, which could affect 75,000 companies. The new measure ensures suppliers with insurance for the full year so that trade can continue.
Full details here: https://www.rijksoverheid.nl/onderwerpen/coronavirus-covid-19/nieuws/2020/04/07/kabinet-helpt-leveranciers-en-ondernemers-met-hun-leverancierskrediet