Thompson & Holt Adds Amazon Seller Suspension Insurance
Amazon seller suspension consultants Thompson & Holt have added Amazon seller suspension insurance to their "Monitor & Protect" service.
The Monitor & Protect service alerts sellers about issues which would cause a suspension, and with the new insurance now covers expenses such as wages, rent and overheads incurred during a suspension.
To qualify, sellers will need to have general liability and product liability insurance in place (a requirement to sell on Amazon), an average store rating of 3.49 or higher, and be based in North America or Europe.
Businesses of all sizes can be insured with a maximum coverage of 60 days. If a seller needs to make a claim they will need to notify the insurance company within 5 days of receiving the suspension notification. The insurance covers losses of up to £50,000 and is underwritten by Lloyds of London.
Stuart White, Director of Thompson & Holt said, "This additional insurance will give many Amazon Sellers additional peace of mind should the worst happen. Most sellers automatically assume that if an Amazon account is suspended that the seller has deliberately breached Amazons policies. We speak to at least a dozen sellers each week who have been targeted by well organised syndicates who deliberately try, and often succeed, in suspending competitors accounts. If this happens to an innocent seller the consequences can be devastating".
Thompson & Holt offer a free 30 day trial of the Monitor & Protect alerts service.
Some common questions about Amazon suspension insurance were answered in a Web Retailer article from May 2017.
Source: Thompson & Holt