On the TechTO stage ×1
First seen on the TechTO stage in 2021. Every talk is searchable — ask the archive about Kieran ↗
In their words
Getting small business insurance, if you've ever dealt with that, can be quite a headache. It can be confusing, it can take a while. We wanted to simplify that process, make it possible for businesses to get a quote within minutes.
If you had a claim, there's a lot of costs associated with defending that claim — there's legal fees, there's court fees, there's lawyer fees, there's settlement costs. It really can add up a lot quicker than you might realize if you've never dealt with an insurance claim.
If you forego a policy and you run into a situation where you're now being taken to court for something that you could otherwise be covered for, you're going to be eating those costs yourself, and it's going to kill your business very quickly.
More from TechTO ×1
Quick answers
Who is Kieran Knock?
Head of revenue operations at Summit Commercial Solutions, the Kelowna commercial insurance brokerage founded in 2022, where he works on the sales and client-success side. He took the TechTO stage in October 2021 as a team lead at APOLLO Insurance, the Vancouver digital insurer, on a founder AMA run with Ownr and Humi.
What cover did he tell founders they need first?
Errors and omissions, also sold as professional liability, once you are working in a professional capacity or hiring contractors. Third parties often ask only for commercial general liability, but that does not answer for a mistake in the work itself — yours or a contractor's. He also told founders to read the indemnity clause in a customer contract and confirm with their broker that the policy actually satisfies it.
Is a $2 million liability limit overkill for a startup?
He said no — $2 million is a standard limit for a lot of small businesses, and some insurers will not write less. His advice was to carry the limit continuously rather than raising it for one client and dropping it afterwards: the premium difference is often small, insurers dislike the churn, and a claim discovered later depends on the policy wording at the time.