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Insurtech Foxquilt Insurance Services Inc. said Tuesday it has introduced an e-commerce insurance product for small businesses in Canada.
The Toronto, Ontario-based company said it plans to introduce the product in the U.S. later this year.
It said the product enables small business owners in more than 500 professions to quote, buy and instantly receive their business insurance online, with premiums beginning at $500 annually.
Up to $2 million in limits is available, according to a spokeswoman.
Markd VC LLC, a Boulder, Colorado-based venture capital firm devoted to the insurtech sector, said Thursday it has closed its $100 million debut fund.