Please help me with some information about the email I received from Amazon. I am attaching a picture, it is about insuring the merchandise at a certain threshold of gross sales in a month.
They say I have to get it and keep it active within 30 days. How did you proceed?
Thank you in advance!
Hello,
As a reminder, under section 8 of the Amazon Services Business Solutions Agreement, you must obtain and maintain commercial liability insurance within 30 days after your gross proceeds from your transactions exceed the following applicable insurance threshold during any month (or if otherwise requested by Amazon) and add Amazon as additional insured:
• Five thousand Euros (€5,000) (if the Amazon Site is the DE Amazon Site, the FR Amazon Site, the IT Amazon Site, the ES Amazon Site, the BE Amazon Site or the NL Amazon
Site),
Four thousand British Pounds (£4,000) (if the Amazon Site is the UK Amazon Site),
Fifty thousand Swedish Krona (kr 50,000) (if the Amazon Site is the SE Amazon Site),
Twenty-two thousand five hundred Polish Ztoty (PLN 22,500) (if the Amazon Site is the
PL Amazon Site).
If you need a new commercial liability insurance policy, we’ve identified insurance broker that can help you secure liability insurance. To contact them, go to Simply Business.
If you already have a valid commercial liability insurance policy that you bought in the US and you sell in the EU or UK stores, be sure to check with your insurance provider to verify that your policy covers claims made in the EU and the UK.
When you obtain coverage for the products you sell, make sure that your policy fulfills our insurance policy requirements. For more information, go to Commercial Liability Insurance Policy.
I received the same message yesterday. Maybe it’s just a USA thing and aimed at sellers moving into european markets.
I can’t see anywhere to insert policy on UK seller central.
Sadly, it applies for everyone. Amazon firstly rolled out the policy in the United States. It caused me such a hassle and anxiety until I finally found an insurance broker who offered the insurance to me as I sell toys.
For my European account, I had to change into a UK company, because PolicyBee only offers services to UK businesses. But at least the problem got sorted…
Anybody in business supplying customers with goods that could potentially injure them (pretty much everything can cause harm) has to bear responsibility to their customers and especially to themselves.
It’s easier for limited companies which by definition have limited liability but in particular for sole traders, having this product liability insurance will prevent you from being made bankrupt by a serious customer injury claim.
Even smaller claims can cause your business to fail.
See this as something you should have been doing in the first place and which is to your benefit, not just something that nasty Amazon are demanding.
