Leading broker enters into massive insurance partnership with Amazon
E-commerce giant Amazon has launched a strategic partnership with a leading insurance broker and risk advisor to provide small businesses with product liability coverage.
Marsh has collaborated with Amazon to support its new digital insurance network, Amazon Insurance Accelerator.
Amazon has introduced a new requirement for third-party sellers to obtain product liability coverage after reaching $10,000 worth in sales in a month.
In order to help sellers more easily and affordably secure this insurance, Marsh has curated a panel of insurers of small commercial business and secured digital insurance distribution providers.
US-based sellers can now obtain quotes and purchase a policy that meets their needs and Amazon’s requirements from one of the current participating insurers, 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.
Anita Sathe, US Affinity Leader, Marsh, said: “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.”
Sathe added that “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.”
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