August 10, 2021
Marsh, the world’s leading insurance broker and risk advisor, today announced it has collaborated with Amazon to support its new digital insurance network, Amazon Insurance Accelerator, where small businesses selling on Amazon can easily purchase affordable product liability coverage.
Amazon now requires third-party sellers to obtain product liability coverage after reaching $10,000 in sales in one month rather than three months on Amazon. To help sellers more easily and affordably secure this insurance, Marsh curated leading insurers of small commercial business to help create Amazon Insurance Accelerator.
China-based sellers now can obtain quotes and purchase a policy that meets their needs and Amazon’s requirements from one of the current participating insurers: Huatai Property & Casualty Insurance Company Limited, Ping An P&C Insurance Company of China Ltd., PICC Property and Casualty Insurance Company Ltd., and Starr Property & Casualty Insurance (China) Company Limited.
“Product liability insurance allows Amazon sellers to focus on scaling their businesses, knowing they are protected if one of their products accidentally causes 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,” said Henry Wilkins, Regional Affinity Leader, Marsh Asia. “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.”