Amazon Insurance Accelerator in New York, NY, Los Angeles, CA and Phoenix, AZ
We also provide services across the nation.
Amazon Insurance Accelerator Information
Amazon recently announced that sellers who reach $10,000 in sales during any one month must purchase product liability insurance coverage.
To make complying with the rule easier for Amazon sellers, the company partnered with Marsh (a leading risk advisor and insurance broker) to create Amazon Insurance Accelerator. This new digital insurance network provides affordable product liability coverage for Amazon sellers.
What Is Product Liability Insurance?
When a product harms a customer, they may sue the manufacturer or seller for damages. Product liability insurance helps pay damages caused by:
- Product defects
- Design flaws
- Inadequate warnings and instructions
Product liability insurance may cover claims, damages, and legal costs up to the policy maximum if a customer sues an insured Amazon seller.
How Does Amazon Insurance Accelerator Work?
Marsh and Amazon have vetted insurance companies participating in Amazon’s Insurance Accelerator program. These insurers comply with Amazon’s policy requirements.
When a seller reaches $10,000 in sales during a single month, they must purchase product liability insurance.
What Happens if an Amazon Customer Makes a Claim Against An Amazon Seller?
If a customer is injured, becomes ill, or their property is damaged as the result of using a product they purchased on Amazon, the company will pay up to $1,000 to cover damages if the seller has a valid property liability insurance policy.
Damages exceeding $1,000 are presented to the seller’s insurer.
Get Product Liability Insurance for Your Amazon Business
Amazon sellers who must purchase product liability insurance don’t have to use an insurer listed on the Insurance Accelerator.
The business insurance experts at WELL Insurance are ready to help you get the product liability insurance policy you need to remain in compliance with Amazon’s newest policies. Contact us today to get a quote.
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