Having more than five years of professional experience in the insurance industry, Michael successfully fulfills the Director of Operations position. Michael Rogers is an experienced manager and educator from. Keep in mind that different companies have different insurance products so it will be up to you to find out which is the most suitable policy out there for you. For example, if you are a small online shop from Phoenix, you should first research local agent offers and then compare them with offers from national providers and then make the right decision based on the needs of your business. Once you determine where your business is vulnerable, the next step is to identify suitable companies offering e-commerce insurance coverage.
These could be the areas of merchandise distribution, online fraud, delivery and so on. The first step in insuring your e-commerce business is to identify the most vulnerable areas within the business. These services should be covered by appropriate insurance as prolonged delays could result in losses. Online businesses rely on third parties to provide services such as Internet service, website hosting, and even deliveries. While risk management is important, an insurance policy would also help. While this is suitable for many small businesses, e-commerce businesses have unique needs that the BOP does not cover including business interruptions and data security. Many small business owners often take out a Business Owner Policy (BOP), a standard policy that covers most risks and includes both general liability and property coverage. The problem is that they are then more skeptical and may hesitate to buy a genuine product.Į-commerce insurance compared to standard business insurance Customers always want to receive genuine product and merchandise, and many will reject counterfeit goods. These counterfeit sales hurt genuine brands in the form of revenue losses. Counterfeit sales-According to a recent MarkMonitor survey, nearly a quarter of consumers have been duped by online counterfeiters.Using parcel insurance can come in handy even as you wait for the shipping carrier to meet its obligations. Losses and damage during delivery-Stolen, damaged and switched shipments can be blamed on third parties, but your customers will look to you for a solution.Fraud and identity theft-Fraudsters use different methods to penetrate e-commerce sites and steal customer information, then using it to commit forgery and fraud.Unpreventable losses in e-commerce include: While you can take action to prevent some losses, insuring against those unpreventable losses can help reduce the risk of major damage to your business. 6.Complete the form and Click Submit Claim. Select the Order you would like to file a claim for. All of your Orders eligible for an insurance claim will be displayed. As with any business, e-commerce businesses can suffer losses, some of which can be prevented while others simply cannot be avoided. Open the Eligible For Tab and Select Insurance Claim.
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