Just got this email this morning.
But in fairness, you should have known that this was a requirement of selling on Amazon.
I suspect you are US based so I can’t help but costs in the UK are varied, depending on the country of manufacture of your products and also the markets you sell in. I only source from the EU and only sell in UK so I pay just £7/month for £1M cover.
Unfortunately, this is a Business Liability Insurance, which is a very recent requirement - for all sellers trading on the US platform, including me, regardless of their location.
It’s nearly impossible to get the BLI if you are from a small non-English speaking country. I somehow managed to obtain the policy, but it took me months of daily calls and extreme effort.
Really a waste of money for someone who has been trading on Amazon for years and never received any complaints.
This is supposed to cover potential lawsuits from customers. I can imagine it will help in case of any exploding Chinese gadgets, but for regular people selling let’s say jewelry or books, it’s a waste of time and money.
Wow, you are really lucky Yes, I know that in the UK or US this can be obtained by ticking of boxes on a form, but elsewhere it’s a lot of work ….
Screenshot states September 1, 2021.
Yes, very recent for those who have been selling for 10+ years. Most of the resources you will find online don’t mention it and it’s still difficult to find any such policy in the Seller Central.
Sellers learn about it when they receive the dreaded e-mail telling them that they have 30 days to comply.
This used to be a requirement for sellers making over a certain amount of money. They have now expanded it to all sellers.
Not all insurance companies provide Commercial Liability Insurance. We use The Hartford. The policy just renewed for $669.00.