New Zealand business, acquiring insurance
We've been told by Amazon we need to provide proof of liability insurance coverage. I tried contacting the insurer on the "Amazon Insurance Accelerator" for my region, but after three weeks they finally replied "Unfortunately, we do not have a local representative who can assist you in this matter"
I've reached out to some local brokers. One said no one can supply the required insurance, the other broker said they found one insurer who quoted $5,800 nzd per annum ($3,500usd) which is a significant portion of our overall Amazon sales. We reached the $10k threshold in one pre-Christmas month, now our sales are much lower.
I'm wondering if there's any other NZ sellers out there who have found a decent solution for this? Or do we just have to fork out $6k and hope that Amazon accept it as valid insurance and not leave us out of pocket?
New Zealand business, acquiring insurance
We've been told by Amazon we need to provide proof of liability insurance coverage. I tried contacting the insurer on the "Amazon Insurance Accelerator" for my region, but after three weeks they finally replied "Unfortunately, we do not have a local representative who can assist you in this matter"
I've reached out to some local brokers. One said no one can supply the required insurance, the other broker said they found one insurer who quoted $5,800 nzd per annum ($3,500usd) which is a significant portion of our overall Amazon sales. We reached the $10k threshold in one pre-Christmas month, now our sales are much lower.
I'm wondering if there's any other NZ sellers out there who have found a decent solution for this? Or do we just have to fork out $6k and hope that Amazon accept it as valid insurance and not leave us out of pocket?
1 reply
Steve_Amazon
Hi @Seller_D6Cp8BQEJzuoh,
Steve from Amazon here, thank you for reaching out in the Forums. For your question to other NZ sellers, I recommend that you change your Forums account to the proper store and create a post there. You can do this by switching the store in the top right corner of the Forums. This process will allow you to reach those sellers.
For more information on the Commercial Liability Insurance, please review this resource. If you currently do not have liability insurance or are looking for a new policy, you can choose any insurance provider that meets our requirements below.
- The insurance policy type can be either commercial general, umbrella, or excess liability and be occurrence based, except for certain product categories that are outlined in the Frequently asked questions;
- The policy limit must be at least USD 1 million per occurrence and in aggregate, and cover liabilities caused by or occurring in conjunction with your business operations, including products, products/completed operations and bodily injury;
- The deductible for any policy(ies) must not be greater than $10,000. Any deductible amount must be listed on your Certificate of Insurance;
- The policy must cover all sales from products you have listed on the Amazon.com store;
- The policy must name "Amazon.com Services LLC and its affiliates and assignees" as additional insureds;
- Except for single-member LLCs, your insured name must match the “legal entity” name you provided to Amazon in your Account Info. For single member LLCs, where your legal entity name is different than the name you publicly use to identify your business (“trade name,” “doing business as,” or “DBA”), it is also acceptable for your insured name to match your trade name;
- Your insurance provider must have global claim handling capability and a financial rating of S&P A- and/or AM Best A- or better (if S&P or AM best is not valid or used in the country where you are required to obtain insurance, a local equivalent is allowed);
- The policy must be completed in its entirety and signed; and
- Your insurance provider must give Amazon at least 30 days’ notice of cancellation, modification, or nonrenewal.
I also recommend that you switch your Seller Central account to the desired store and create a case to Seller Support to reach that support team with further questions.
Thanks,
Steve