WILLEMSTAD - Directors and directors appointed at the foundation of a company or foundation are not eligible for the sickness and accident insurance of the Social Insurance Bank (SVB).

The SVB informed all these statutory directors and directors of public limited liability companies (NVs), private limited companies (BVs) and foundations following a court ruling on 18 June 2018. SVB recently received that ruling.

Only employees are entitled to sickness or accident money, as arranged through the National Ordinance Health Insurance (ZV) and the National Ordinance Accident Insurance (OV). The court finds that there is no relationship of authority between directors-shareholders and the company and that they cannot therefore be regarded as employees. For the same reason, they are also not entitled to payment from Cessantia.

The directors and administrators concerned are no longer required to pay a self-employed person premium but will have to take out private insurance in order to be eligible for sickness and accident-related benefits.