TORONTO--(BUSINESS WIRE)--Assurant, Inc. (NYSE: AIZ), a global company that redefines the boundaries of protection – safeguarding and servicing connected devices, homes, automobiles, and commercial equipment in partnership with the world’s leading brands, today announced that it has acquired Protection Point Service Plans Inc. (PPSP), a Canadian provider and administrator of protection programs for commercial equipment.
Based in British Columbia, Protection Point specializes in extended service plans and related protection solutions for commercial equipment across industries including agriculture, construction, material handling and forestry.
The acquisition builds on a longstanding relationship, as Protection Point already operates exclusively in support of Assurant’s commercial equipment business in Canada, with Assurant underwriting its protection programs. By bringing Protection Point into Assurant, the company will strengthen its ability to directly manage distribution, dealer relationships and licensed insurance capabilities in Canada, while creating additional opportunities to expand its Commercial Equipment business.
“Protection Point has been an important partner to Assurant for many years, and bringing the business into Assurant is a natural next step in our relationship,” said Paul Cosgrove, President, Assurant Canada. “The business has built strong relationships and deep expertise in Canada’s commercial equipment market, while delivering impressive growth. Combining those capabilities with Assurant’s scale, underwriting expertise and broader protection platform positions us well to accelerate our growth in this market and deliver even greater value to our clients and their customers.”
The acquisition further strengthens Assurant’s Commercial Equipment capabilities in Canada and complements its established commercial equipment business in the United States.
“Our longstanding partnership with Assurant reflects a shared commitment to our dealers and customers,” said Ian Young, former President, Protection Point. “Joining Assurant builds on that foundation, bringing together our team’s commercial equipment expertise and relationships in Canada with Assurant’s capabilities and investment in commercial equipment protection.”
Protection Point provides end-to-end support across the commercial equipment protection lifecycle, including dealer engagement and onboarding, sales and training, customer support, claims intake and administration, enrollment processing, contract administration, and premium and remittance management.
“Commercial equipment represents an opportunity to build on the capabilities Assurant has developed globally, and Canada is a market where we can extend that expertise,” said Federico Bunge, President, International at Assurant. “Protection Point brings specialized market knowledge, established dealer and manufacturer relationships and a proven sales capability. Together, these complementary strengths will enhance how we serve customers and dealers.”
About Assurant
Assurant, Inc. (NYSE: AIZ) redefines the boundaries of protection – safeguarding and servicing connected devices, homes, automobiles, and commercial equipment in partnership with the world’s leading brands. As a Fortune 500 company operating in 21 countries, Assurant leads the way in leveraging insights and technology to transform customer connections that build loyalty and drive value.
Learn more at assurant.ca.