Who insures my policy and how is Padder regulated?

Padder’s role: Padder Underwriting Inc. (“Padder”) is a licensed insurance broker.

That means:

• Padder designs products like Padder Guarantor and Padder Deposit
• Padder has delegated authority from the insurer to underwrite, bind coverage, and issue policies on their behalf
• Padder also manages the day-to-day relationship with landlords, leasing teams, and tenants

Who actually insures my policy?

Your Padder policy is backed and insured by Accelerant Insurance Company of Canada.

• Accelerant Insurance Company of Canada is a regulated Canadian insurance carrier.
• Padder issues policies on Accelerant Insurance Company of Canada’s behalf under a formal delegated authority agreement

Financial strength (high level)

Padder partners with A-rated Canadian insurance carriers to provide your coverage. For a full description of policy coverage, conditions and exclusions, please read the Policy wording.

What you need to know as a renter:

• Your landlord’s coverage is backed by an insurer that has been independently evaluated for its ability to pay valid claims
• Padder does not “self-insure” or rely on unregulated funding to cover losses

Jurisdiction and governing law

For current residential products:

• Padder Guarantor and Padder Deposit policies for Ontario rental properties are generally governed by the laws of the Province of Ontario and applicable Canadian insurance legislation
• Any disputes or interpretations of the policy are subject to the governing law and jurisdiction stated in your actual policy wording

As Padder moves into other provinces and territories, the governing law and jurisdiction may differ by product and region. Your policy documents will always clearly state:

• Who the insurer is
• Which province/territory’s laws apply
• How disputes are to be handled

If you’re unsure how this applies to your situation, check your policy or contact Padder support.