Amazon insurance went bankrupt?! Sellers paid for nothing

There was a big bombshell about Amazon insurance recently. Many sellers reported that they spent money to buy insurance, but were rejected by Amazon in the past two days, and an email was sent with an arrow pointing directly to POE insurance!

This news was so explosive that it swept the cross-border circle directly, because POE Insurance has invested heavily in advertising. When searching for "Amazon Insurance" on Baidu, the keywords that come out all contain POE (Game) Insurance , and the search results are full of various advertisements and soft articles.

Therefore, there are many sellers who bought POE insurance, which quickly aroused heated discussions in the seller discussion group.

In short, POE Insurance is not a proper insurance company, but an insurance agency (brokerage) company, which is equivalent to a middleman between insurance companies and policyholders. Normally, insurance agents sell insurance products and services from large insurance companies and just earn commissions from them. We still have many students and group members who buy insurance from large companies through agents, and there is no big problem, but POE Insurance is obviously out of control.

If you look carefully at the picture below, you will find that it clearly explains what POE does.

That is, POE Insurance fabricated the insurance certificate to provide proof for a policy number that did not exist at all , and Amazon found out about it. This matter was quite serious, and Amazon was too lazy to check how many of these POE policies were real and how many were fake, and directly blacklisted the entire POE company, and all the policies handled by POE were deemed invalid.

Fortunately, the store safety was not endangered. Amazon also stated in the email that this matter had nothing to do with the seller and was purely caused by POE's illegal operation. However, sellers who have used POE insurance policies need to resubmit a valid insurance certificate (COI) within 45 days from the time of receiving the email . Otherwise, it will still be processed as "failure to provide valid commercial insurance" and there is a risk of the store being blocked. In other words, the seller has to spend money to buy insurance again. I suggest that you should seek compensation from POE on the one hand, but not affect the safety of the store. First buy insurance and send the certificate, and then slowly claim compensation from POE. This will be a long battle.

This incident reminded me of the big incident that happened to Huanyi Intellectual Property. At that time, Huanyi was found to have violated regulations by the Trademark Office, and the Trademark Office rejected more than 15,000 trademark applications submitted by Huanyi. A lot of sellers' money spent on trademark registration was wasted, and some sellers are still seeking registration fees from Huanyi.

Can the victimized sellers of the POE incident get their money back? It is very unlikely, because POE Insurance is indeed an American company, and in China, it is actually resold by some brokers (that is, middlemen), and there are even more than one reseller . The final price in the hands of the sellers has been increased layer by layer. Some domestic agents of POE have directly started to complain and said that the money cannot be refunded.

Although it is not known whether it was the POE headquarters or these agency agencies that fabricated the insurance certificate, in short, this group of domestic agents have no way of repaying the money due to this issue . They can only collect the debt from the POE headquarters, which is not easy.