Last year, Amazon began to require sellers to provide product liability insurance. However, recently some service providers have started the idea of fake insurance, selling dog meat under the guise of sheep, and attracting sellers at low prices. Many sellers did not know they were deceived until their stores were blocked!
1. Providing false insurance policies
A few months ago, the US POE Insurance Company notified e-commerce in various channels. If any insurance policy issued by POE cannot be checked, the insurance policy without this number is a fake insurance policy! Recently, there has been explosive news. Some sellers have been blocked by Amazon and Wayfair e-commerce platforms for submitting false insurance policies!
The content of the email is very clear. Amazon reviewed the commercial liability insurance certificate for products sold by Amazon provided by the seller to Amazon. After reviewing the provided documents, it was determined that the seller’s certificate of insurance (COI) did not provide sufficient evidence to prove that the policy meets Amazon’s requirements because the policy marked in the POE insurance COI does not exist. Now a new commercial liability policy is required (not through POE insurance), and the COI was uploaded within 45 days and received this message!
2. POE insurance does not meet the real conditions
Recently, the price of POE, an interbank insurance company, is very low. Amazon’s 1 million yuan product liability insurance and POE agent price are less than 1,000 yuan. In addition, by querying the American Insurance Association, POE does not provide American insurance services to Chinese companies! POE insurance really hurts a lot of sellers!
3. How sellers can identify fake policies
1) Fixed premium policy. If the insurance premium required by the service provider of the seller is a fixed premium, no matter how much your past sales revenue is, it is a fixed premium, then it can be judged as fake. In the past 12 months, the sales of product categories in each store have been different. The underwriting department needs to calculate the premium according to the accounting form filled out by the seller in order to obtain the premium. Therefore, the premium cannot be fixed.
2) The voucher is on each policy, and Amazon and the insurance company are interoperable with this voucher, and once verified, the authenticity can be found.
The above is the introduction of how to avoid buying fake policies for Amazon liability insurance compiled by the editor, I hope it will be helpful to you.