Assurant, which safeguards and services connected devices, homes, automobiles and commercial equipment, has acquired Protection Point Service Plans, Inc. (PPSP), a Canadian provider and administrator of protection programs for commercial equipment.
The acquisition strengthens Assurant’s dealer and distribution capabilities in Canada and supports growth in its Commercial Equipment business.
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. 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,” Paul Cosgrove, president of Assurant Canada, said. “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 U.S.
“Our longstanding partnership with Assurant reflects a shared commitment to our dealers and customers,” Ian Young, former president of Protection Point, said. “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,” Federico Bunge, president of international at Assurant, said. “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.”
