TD Bank Group and TD Insurance announced March 15 that the company is entering the small business market, offering commercial property, general liability and auto insurance for small businesses, through its newest venture, TD Insurance for Business.
The company says 98 per cent of all businesses in Canada are small businesses, representing a significant opportunity. “TD Insurance for Business will first be available in Ontario, with other provinces to follow,” TD said in a statement about the business launch. It adds that the company will provide coverage for micro and small businesses across a number of industries including retail, contractors, wholesale, business and professional services and health care.
“We know there is unmet demand to provide protection to small businesses,” says James Russell, executive vice president and president and CEO of TD Insurance. “We are excited to extend our leadership to protect small business owners in Canada.”
The company adds that the small business offering is a natural extension of its existing services, adding that the company “will meet the needs of more Canadians with advice-driven protection.”
