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Insurers cancel supermarket chain suppliers’ cover over Brexit

Posted On: Oct. 21, 2019 5:48 AM CST

Iceland Foods

U.K.-based supermarket chain Iceland Foods Ltd.'s suppliers have had their insurance cover cut amid concerns about the impact of Brexit on the company's supply chain, City A.M. reports citing The Sunday Times. The move will come as a major blow to suppliers, which use the cover to protect against the risk of a customer going bust after an order has been made but before payment has been received. The decision may also have a knock-on effect on Iceland if the suppliers choose to demand payment up front.

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