American online shopping giant Amazon and insurance broker Marsh have signed a partnership agreement to distribute insurance products through the new digital insurance network, Amazon Insurance Accelerator.
This new service allows sellers and distributors of products using Amazon's platform in the United States, whose turnover reaches 10 000 USD per month, to underwrite a product third party liability policy. The insurance covers property damage and bodily injury caused to third parties by a defective product.
The contracts are underwritten by Chubb, Harborway Insurance, Hiscox, Liberty Mutual Insurance, Markel and Travelers. Product liability insurance policies are available online.
Read also | Insurance: the net giants are on the lookout [4]