Akzo Nobel Staff Sick Fund Approved

The Dutch Sick Fund Council has approved the setting-up of a specialsick fund by Akzo Nobel, opening the way for more such funds. The plan, which will cover about 20,000 people and be named the Independent Sick Fund Enterprise (OZB), now goes to the government for approval.

Akzo decided to set up the fund for its staff, who are compulsorily insured and covered by the national health system, when its existing top-up scheme came under pressure from moves to make insurance more competitive. The Council said the plan meets its requirements in that it has no profit motive, has at least 1.1 million guilders ($557,810) in cash and is open to all. The employers organization VNO-NCM welcomed the initiative, saying that it will keep insurers "on their toes," and hope that others will follow.