The brokerage giant has collaborated with Amazon on its new digital insurance network, Amazon Insurance Accelerator.
To help third-party sellers more easily and affordably secure product liability insurance, Marsh curated a panel of leading insurers of small commercial business and secured digital insurance distribution providers to support Amazon Insurance Accelerator.
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A new mandate from Amazon requires third-party sellers to secure product liability coverage after reaching $10,000 in sales in one month, rather than three months, on Amazon.
Through the new Amazon Insurance Accelerator, US-based small business sellers can get product liability quotes and purchase a policy that meets their needs and Amazon’s new coverage requirements.
Insurers participating in the Accelerator include: Chubb, Harborway Insurance underwritten by Spinnaker Insurance Company, Hiscox, Liberty Mutual Insurance, Markel, and Travelers. The policies are made available digitally by Bold Penguin and Simply Business, Inc.
“Product liability insurance allows Amazon sellers to focus on scaling their businesses, knowing they are protected should one of their products accidentally cause bodily harm or property damage. However, finding the right insurance policy at the right price — especially for new business start-ups — can be a daunting task,” said Anita Sathe, US Affinity Leader, Marsh.
“Amazon Insurance Accelerator makes it easy for sellers to obtain competitive quotes from reputable insurers that will stand behind their business and give them peace of mind.”
Source: Insurance Business Magazine
