Brexit: the implications for business owners
The United Kingdom (UK) will leave the European Union (EU) on 29 March 2019. It is not yet clear what form Brexit will take. The negotiations concerning the exit agreement are still in full swing. However, Brexit may have consequences for all Dutch businesses, also in relation to insurance. Will you be well-prepared later on?
Will there be a hard or soft Brexit? No one knows this at present. As a business person you therefore do not know what implications it will have for your company. Nevertheless, this is not a reason to wait around passively. Together with VNO-NCW [Confederation of Netherlands Industry and Employers] and MKB-Nederland [Federation of Small and Medium-Sized Enterprises], the central government offers you practical tips at www.hulpbijbrexit.nl. In addition, the central government has developed a scan which can help you to discover the consequences for your business. Check out https://rvo.regelhulpenvoorbedrijven.nl/brexitimpactscan/
Will Brexit have any implications for your insurance policies? It may certainly do so, for example, in relation to product liability.
If you import products from the UK, you will be an importer of non-EU products after Brexit. This means that, in accordance with the law, you will not only be a supplier but also a producer. You will then be liable for any loss caused by or with your products. This refers to any loss which occurs because a product is defective. In such a case the product would not be as safe as a customer is entitled to expect.
Together with you, we can already examine the way in which your product liability is insured.