Ecommerce Insurance Question

mplsmm

Super Genius
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So I have sold on Ebay and Amazon for many years. You probably know the concept of Ebay, but to catch you up on Amazon. You buy used or new goods or produce goods, ship them into Amazon and they ship them out for you. You are supposed to carry liability insurance of 1 million. The idea is that if you sell something that is faulty or a kid chokes on a recalled item, you are covered. I have tried many times over the years to get underwriters interested in offering a bigger ecommerce policy but all have shied away, too many unknowns like the hoverboards that burned down homes. What if a seller sold 5,000 before the problem was caught? And how do you insure goods in someone elses warehouses that get shipped overseas and who knows where? So I have never pursued offering widespread coverage. Now there is an agency offering these policies in all 50 states plus the added bonus of income replacement if an account is shut down over counterfeit or faulty goods. My concern is that hundreds of sellers are buying these policies that I can't see how they would cover all of the risks for a few hundred bucks a year and a 90 day income replacement option. I don't have any interest in chasing customers in 50 states for $400 policies, but I am worried this newer agent might not understand the risks. What do you experts think? Is Travelers or someone else "big name" going to get behind this?:)
 
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