Meridian partners with TruShield Insurance to bridge commercial insurance coverage gap among small businesses
Toronto, ON (June 27, 2023) – Meridian, Ontario’s largest credit union, is proud to announce a new partnership with TruShield Insurance, Canada’s first direct-to-consumer small business insurance provider. The partnership allows Meridian Members to access TruShield’s commercial insurance policies at a preferred rate.
According to a November 2022 study conducted by TruShield Insurance with Leger, 27 per cent of businesses with revenues less than $250K don’t have any type of business insurance. The survey of over 400 Canadian small and medium-sized businesses points to a serious gap in commercial insurance coverage among small businesses. This could leave owners at risk and, in the event of a major loss, susceptible to bankruptcy.
“At Meridian, we know how important it is to protect your bottom line as a small business owner and appreciate the challenges for smaller enterprises to access commercial insurance,” says Liz Blazanovic, Vice President, Business Banking, Meridian. “We believe we are filling a need by partnering with TruShield to provide access to an important business requirement that can help protect our small business Members.”
Small business owners are constantly juggling priorities and don’t have time to worry about every potential risk. Having comprehensive business insurance can provide peace of mind and allow entrepreneurs to focus on what they do best: growing their business,” says Craig Hopkinson, Vice President of TruShield Insurance. “That’s why we’re excited to launch our new partnership with Meridian and protect more small businesses across Ontario.”
With coverage tailored to each small businesses’ unique needs and policies written in language everyone will understand, TruShield can help give small business owners the protection they need. TruShield is proud to offer 24/7 claims team support, risk management resources, and a Customer Perks program.
Meridian small business members can get a quote online.
About Meridian
Meridian is Ontario’s largest credit union, and second largest in Canada, with over $30 billion in assets under management (March 31, 2023). Guided by our purpose, “helping you achieve your best life,” Meridian delivers personal, business and wealth financial solutions to over 370,000 Members. Our bold Meridian for Good strategy is aimed at helping people get access to the money and advice they need; plan for a better future that is clean, resilient, and diverse; and be financially confident. Meridian has two operating subsidiaries: Meridian OneCap Credit Corp (“MOCC”) and motusbank. For more information, please visit meridiancu.ca.
About TruShield Insurance
TruShield Insurance is a proud supporter of Canada’s small business community. We are 100% Canadian and owned by Fairfax Financial Holdings Limited. We focus on serving Canadian small business owners, entrepreneurs and startups. We provide affordable, flexible, and tailored insurance solutions for small businesses. Visit us online at www.trushieldinsurance.ca to learn more about our products and request a quote.
© 2023 Meridian Credit Union
SOURCE: 2023 Meridian Credit Union
Tags: commercial lines, Northbridge, partnership, protection gap, small business