The day has come where Amazon has decided to start enforcing the rule. When you signed up to be a pro seller, you signed that you had insurance and that you would keep it while selling on their platform. But they have not been checking it. Well, see the email below. They are going to start checking it! They are starting with sellers who are doing 3 consecutive months of $10K or more in sales. Then we believe that they will move across all sellers.
So what is required?
What are the insurance requirements?
Your commercial liability insurance policy must meet all of the following criteria:
- Policy limits must be at least $1 million per occurrence and in aggregate, covering liabilities caused by or occurring in conjunction with the operation of your business, including products, products/completed operations, and bodily injury;
- Policy must cover your sales through the Amazon.com website;
- Policy must name Amazon and its assignees as additional insureds;
- Policyholder name must match the name of “legal entity” provided to Amazon. You can verify your legal entity name in Seller Central at https://sellercentral.amazon.com/sw/AccountInfo/LegalEntity/step/LegalEntity; and
- Policy must be valid for at least 180 days from the date of submission.
How do you get this insurance?
You need an agent who KNOWS what you know! Who is NOT a seller but know what’s sellers do! You need Ashlin Hadden Insurance. Her agency focuses solely on eCommerce sellers. She has spoken and attended over 40 conferences, is in the Facebook groups, and has even walked the Canton Fair with clients to see how they were sourcing. They are your one-stop-shop for eCommerce insurance.
Go to www.ecom.insure
Click on get a quote