Since your CPE is already a SPOF, you might consider adding a cheap unmanaged switch behind each CPE, then you could have each CPE plugged into each switch directly, instead of having them plugged into only sw1 or sw2. That way if sw1 dies, you still have both ISP1 and ISP2 active.
If a cheap unmanaged switch dies, you only lose either ISP1 or ISP2. Much more desirable scenario than losing both a managed switch and access to one ISP in the process.