Insurance broker Marsh has been working with online marketplace Amazon on its new digital insurance network designed to provide businesses with product liability cover.
Amazon recently introduced new requirements for third-party sellers to obtain product liability cover after reaching $10,00 worth of sales within one month.
To help sellers more easily and affordably secure this insurance, Marsh curated a panel of insurers of small commercial business and secured digital insurance distribution providers.
US-based sellers now can obtain quotes and purchase a policy from a number of firms including 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,” said said Anita Sathe, US Affinity Leader, Marsh.
“However, finding the right insurance policy at the right price — especially for new business start-ups — can be a daunting task.
“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.”
