bubble blaster

Hi, The power cord on my Bubble Blaster HY2000 Skimmer pump is frayed where the cord meets the pump body. The pump still works but I'm not sure how long this will last, any ideas on if repair is possible? I'm not sure that heat shrink wrap will be effective in creating a water-tight seal...

This was the wrong size for my setup, and I took it out of the box 8 days beyond the return period from Premium Aquatics. Ugh. This skimmer pump pulls MASSIVE air and it's still new in the box. It's out of stock everywhere so I'm happy to see it go to someone who can use it. $425 shipped UPS...