Amazon insurance requires an upgrade, and sellers can no longer renew their insurance as they did before.

According to Amazon’s time node, before the end of August last year, a group of Amazon sellers purchased insurance. When their insurance expired recently, they received an email that the review was not approved and the policy was returned. According to the new requirements of the platform, sellers need to submit policies without deductibles. The sellers shouted: the cost has increased again!

A batch of Amazon seller policies returned

Yesterday, an Amazon seller said that he used his personal information to buy insurance last week, and confirmed that the insurance company name, date and other information were correct. Two days after the information was submitted, the back office received an email that the policy could not be approved.

Another seller also expressed doubts: "I found an intermediary to buy insurance, and now Amazon's background prompts that it cannot be verified and needs to be re-uploaded. Is the insurance purchased by the intermediary not good, or is there something wrong with the insurance sold by the intermediary?"

Sellers who have recently encountered such problems are not alone. Many sellers have problems purchasing insurance and submit the policy normally, only to be returned by Amazon.

Amazon informs the seller in the return email that the commercial liability insurance you submitted cannot be approved because Amazon cannot verify the corresponding insurance policy. After receiving the email, most of the sellers panicked. One seller said that the insurance for several of my accounts was about to expire, so I was worried that the insurance policy would be returned when I purchased the insurance.

It is understood that almost all the sellers who received the bounced email this time were sellers who had recently purchased insurance. Starting from June 16, every day, sellers' insurance policies failed to pass the review. And the sellers who purchased insurance recently, not all of their policies will be returned, some can pass smoothly, and some can't pass.

The sellers who successfully passed are basically those who submitted policies before June 15, and almost all sellers who submitted after June 15 were returned.

Why is the seller's normal renewal policy returned? According to professionals, the key message in Amazon's email is that your policy has a liability deductible.

Previously, Amazon sellers submitted policies with a deductible plan. The deductible was set at US$10,000. When the loss exceeded US$10,000, the insurance company began to pay; now Amazon no longer accepts deductible policies. Sellers are required to purchase insurance without deductibles. Even if there is a loss of one dollar, as long as there is a claim dispute, the insurance company will compensate. This is an improvement of the platform’s protection plan. In the future, sellers and the platform will have stronger protection.

The person analyzed that the sellers who have been returned to the policy do not need to panic. It is not that the insurance you purchased is not compliant, but Amazon has new requirements, requiring sellers to purchase insurance without deductibles.

Insurance companies increase prices, and sellers' costs will increase

Recently, sellers’ insurance policies have been returned in batches, just in time for the expiration of many people’s insurance policies. Since September 1 last year, Amazon has required sellers who have reached $10,000 in sales for three consecutive months to purchase product liability insurance. With the implementation of this regulation, the sellers who meet the requirements basically completed the insurance by the end of August last year.

Sellers who completed insurance coverage at the end of August last year have recently received emails from Amazon, informing them that the insurance they purchased has expired or is about to expire, that they need to extend their existing commercial liability insurance, and require proof of the policy to be submitted within 30 days.

When most sellers received emails to renew their policies, Amazon upgraded the new requirements, so a large number of sellers' renewed policies were returned.

According to people familiar with the matter, although Amazon has not announced the need to purchase non-exempt insurance, the actual situation of sellers is indeed the case. Maybe this requirement of the platform is in the testing stage. In the future, sellers under certain conditions may need to press the new policy. requirements to purchase insurance.

In addition, this time Amazon does not require all sellers to purchase no-deductible insurance, but has a cut-off point of $1 million. According to the relevant standards of the platform, if the sales volume of the seller exceeds 1 million US dollars, the previous deductible insurance can be extended. If the sales volume is less than 1 million US dollars, a policy without deductible must be provided.

Some sellers sighed: "The deductible insurance purchased before has become a non-deductible insurance, which requires a lot of extra expenses. Amazon has to pay the seller for any money!"

For the issue of the upgraded insurance cost, Yien.com consulted the professionals of Ping An Insurance. It said that Amazon requires the purchase of no-deductible insurance. When a loss of less than 10,000 US dollars occurs, the seller and the platform do not have to bear it themselves, but the insurance company needs to bear it. For the insurance company, the cost will be higher, and the insurance company will increase accordingly. Premium. Recently, many insurance companies have also ushered in a wave of price hikes.

However, the increase in Ping An is not large. Before the purchase of deductible insurance was about 1,600 yuan, the cost of non-deductible insurance is now in the early 2000s. The seller whose policy is returned can make up the difference and upgrade to a policy with no deductible.

Amazon's insurance policy is gradually tightening

This time, Amazon’s requirements for sellers’ insurance have been upgraded, and the platform’s insurance policy has also been tightened step by step.

At first, Amazon required sellers whose sales reached $10,000 for three consecutive months to purchase product liability insurance; later, Amazon expanded the insurance coverage, and sellers needed to provide proof of insurance as long as their monthly sales exceeded $10,000; finally, some sellers found new The store, which sells less than $10,000 a month, still gets notifications from Amazon asking for proof of placement.

After the insurance coverage is more comprehensive, Amazon has now reduced the limit of the insurance policy to 0 yuan, and as long as there is a dispute, it must be compensated. While the platform further protects the rights and interests of buyers, it is also constantly putting pressure on sellers, increasing sellers’ sales costs.

However, as an Amazon seller, if you receive an insurance purchase notice from the platform, you must basically apply for insurance. If you do not purchase effective insurance in a timely manner, you will likely be restricted from selling items under certain categories or even suspend your account.

In order for the account to be sold normally, Amazon sellers need to submit insurance policies according to relevant requirements. When applying for insurance, sellers choose a lot of channels, and some sellers also step on the pit because they are greedy for cheap.

In March of this year, POE insurance exploded, and many sellers who purchased POE insurance received an urgent notice from Amazon, informing them that the policy identified in their insurance certificate did not exist, and they needed to re-purchase a commercial insurance, triggering collective rights protection actions by sellers; about 2 A few weeks ago, the POE policies purchased by many sellers suddenly expired. POE sent an email to inform the sellers that they must pay the policy fee of $50 immediately, otherwise the Amazon seller account may be suspended.

After repeated problems, many sellers who purchased POE insurance directly changed the company to re-purchase. They originally planned to buy it cheaply, but in the end they had to pay an extra fee. Therefore, sellers must choose a formal channel when purchasing insurance.

Ping An Insurance is an insurer officially recognized by Amazon. At present, it has prepared a no-deductible insurance plan for sellers. Sellers who need to renew the insurance can purchase directly through the Ping An channel. Sellers who have already purchased and returned the policy need not worry, Ping An Insurance can upgrade. The minimum premium for this channel starts from 1,670 yuan, and the no-deductible plan is reduced from the original 2,680 yuan to 2,450 yuan . Sellers can renew the policy as soon as possible to avoid the risk of account suspension.

In addition, Ping An Insurance has also done a good job of after-sales for sellers. One insurance policy can cover all of the seller's products on sale (except for some high-risk products), and sellers with complete information can apply for insurance.