I think everyone should report this scam.  It's an absolute scam.  If you don't physically accept payments or store any customer account information don't buy this Insurance.  It's like Quickbooks saying we take these types of payments, secure them at our site and insure them but we don't want to bill our (Quickbooks) insurance for it so get your own in case we mess it up for you.  Feels like just another insurance scam.