Assurant acquires Protection Point Service Plans

Assurant has acquired Protection Point Service Plans, a British Columbia-based provider and administrator of commercial equipment protection programs. Financial terms were not disclosed.

Protection Point specializes in extended service plans and related protection for equipment used in agriculture, construction, material handling and forestry.

The acquisition builds on an existing relationship: Protection Point already worked exclusively with Assurant’s Canadian commercial equipment business, with Assurant underwriting its programs.

Bringing the business in-house gives Assurant greater control over distribution, dealer relationships and licensed insurance capabilities in Canada. The deal also complements its US commercial equipment business.

Protection Point’s services include dealer onboarding, sales and training, customer support, claims intake and administration, enrollment processing, contract administration, and premium management.