POE policy expires again! Amazon seller account may be suspended

Recently, many sellers have reported that the POE insurance policies they purchased suddenly expired, and then they received emails from POE asking them to pay a $50 insurance fee immediately, otherwise their Amazon seller accounts might be suspended.

Some sellers believe that POE’s requirement to pay insurance policy fees to reactivate an account is a disguised form of compulsory charging.

POE stated that the premium was charged because Amazon’s insurance monopoly policy stipulates that all secondary issuance of insurance provided to Amazon sellers must be approved by the MARSH Insurance Steering Committee, and each issuance will incur a new submission fee.

Why did the seller's insurance policy become invalid? POE also gave an explanation . Because Amazon has a dedicated team to contact the insurance company to verify the insurance certificate. At present, the verification team has begun to send a large number of emails to POE to re-verify each re-issued insurance certificate.

Amazon Seller Central and POE have different systems. Even if the commercial insurance part of Amazon Seller Central shows successful verification, it may become "invalid" in the backend of POE's system because the status display on the frontend of Seller Central is sometimes delayed. If the status of the commercial insurance becomes "invalid", it will have a serious impact on the store and the Amazon account will be suspended for the seller submitting a fake account.

Many sellers are not happy with POE's practice of charging insurance premiums this time, and are worried about being cheated again.

Because in March of this year , POE insurance collapsed and a large number of policies were rejected by Amazon.

At that time, Amazon officials clearly stated:

①POE insurance policies are invalid. POE is not an insurance institution, but an insurance broker, and is not qualified to issue insurance policies.

② The account performance of sellers who have purchased POE policies will not be affected, but they will need to re-purchase compliant insurance and upload the policy within 45 days.

At that time, many sellers took the path of defending their rights, but faced many difficulties.

Because POE is not an insurance institution with formal issuance qualifications, it can only be regarded as an insurance broker strictly speaking. It has no entity in the mainland, has not been registered and filed with the China Banking and Insurance Regulatory Commission, and has no qualifications to sell insurance in the country.

Even if Amazon does not prohibit it, it is unclear whether subsequent product protection and claims can be carried out smoothly.

Many sellers who purchased POE insurance had no choice but to accept the loss and choose a new insurance company to purchase insurance.

So here, the editor would like to remind all sellers that when purchasing insurance, you must identify the formal channels, carefully select the insurance company, and ensure that the purchased insurance meets Amazon's requirements. Do not find an unreliable company in order to save money, which will result in losing both money and people.

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