Online auction service
icollector says it will launch
the industry’s highest insurance coverage for e-commerce transactions
on November 22.
Called iGuarantee, the new insurance policy arranged by e-business
consultants SafeOnLine will cover items that people purchase on
icollector, up to a value of $50,000. icollector says the amount
“significantly exceeds” the coverage offered by its competitors.
The scheme is designed specifically to protect
“iGuarantee Insurance gives a level of security unprecedented on the
web, offering what we believe to be the highest policy cover for e-commerce
transactions,” said Juan Plata, icollector’s global communications director.
“The launch of iGuarantee Insurance is a critical step forward for the
Internet, giving customers the confidence they need to make purchases
on the web, safe in the knowledge that they are dealing in a risk-free
environment. This further endorses icollector’s position as an innovative
Users of icollector take part in auctions for art, antiques and
the lots being provided by leading auction houses, dealers and galleries
from around the world. All the items offered for sale are authenticated by
The iGuarantee policy is backed by underwriters at Lloyd’s of London.
Chris Cotterell, a director of SafeOnLine, called it “an imperative move
in the rapidly developing e-commerce arena.”