Sonnet Insurance

Sonnet Insurance is a Canadian property and casualty insurance company. The company is a wholly owned subsidiary of Definity Insurance Company.

History

Sonnet Insurance Company was established in 2016. The company was launched as part of a digital distribution initiative by Economical Insurance. In 2016, Sonnet Insurance received a Guidewire Innovation Award for its implementation of Guidewire technology. Sonnet distributes insurance products in multiple provinces across Canada, subject to regulatory approval.

During Definity's initial public offering in 2021, Sonnet was identified as part of the company's digital distribution strategy. Sonnet Insurance maintains a partnership with the NHLPA, with ads featuring players including Toronto Maple Leafs forward William Nylander. The company has also served as a sponsor for the Professional Women's Hockey Players Association.

It offers personal property and casualty insurance products.

Products

Sonnet offers personal property and casualty insurance products, including home, condominium, tenant, landlord, automobile, and pet insurance. Policies are distributed through a digital platform without the use of brokers.

Operations

Sonnet distributes insurance products in multiple provinces across Canada, subject to regulatory approval. Its operations are conducted through a centralized digital platform that handles quoting, policy issuance, and administration.

Controversies

In Green Estate v. Sonnet Insurance Co. (2022), the Supreme Court of British Columbia found that Sonnet Insurance breached contractual and statutory obligations by delaying payment on a fire loss claim and awarded compensatory damages and C$30,000 in punitive damages.

In 2024, Sonnet withdrew from the Alberta automobile insurance market, citing regulatory and market conditions.