# PGicover > Insurance that protects Canadian business owners' personal guarantees on commercial loans\. ## At a glance | Field | Value | | --- | --- | | Category | Specialty Solutions | | Type | Broker | | Region | NA | | Headquarters | Vancouver, British Columbia, Canada | | Founded | 2026 | | Stage | Startup | ## Overview PGicover is a Personal Guarantee Insurance brokerage serving Canadian business owners who sign personal guarantees on commercial loans. Personal guarantees are commonly required by lenders on SBA-style loans, the Canada Small Business Financing Program, acquisition financing, lines of credit, and commercial real estate and equipment finance, and they extend liability from the business to the owner's personal assets. PGicover's policy reimburses up to 80% of the personal guarantee obligation if a lender enforces it, with the policyholder retaining the remaining 20% to keep incentives aligned. The product launched in July 2026 in partnership with UK-based Purbeck Insurance Services, which has offered personal guarantee insurance to business owners in the UK since 2017, and is underwritten by Markel International Insurance Company Limited (Canadian Branch), an AM Best A+ rated carrier. Cover is written on a one-year, claims-made basis, billed monthly, and renews annually for the life of the underlying loan; no subrogation is pursued against the insured once a claim is settled. Coverage is currently limited to Canadian borrowers, with a waitlist for US borrowers. PGicover distributes through referral relationships with banks and other partners, including BMO, RBC, BDC, Boreal Financial, and ME Law. Applications, underwriting, and quoting run through PGicover's own online platform at app.pgicover.com, with policies also purchasable via a mobile app. Underwriting uses a three-stage scoring process combining automated data checks with human underwriter review, and the platform applies AI-assisted document review to help applicants assess their potential personal liability before signing a loan guarantee. A partner API lets lenders, brokers, and advisors embed PGI directly into their own deal workflows rather than relying on a simple referral link. ## Products & services ### Personal Guarantee Insurance \(PGI\) **Key features:** - Reimburses up to 80% of a business owner's personal guarantee obligation on a covered loan if the lender issues a formal demand after default - A single policy can cover the full personal guarantee on loans up to seven figures, with higher limits available on referral - One\-year, claims\-made policy billed monthly and renewed annually for the life of the loan - No subrogation is pursued against the insured once a claim is settled - Currently available to Canadian borrowers only, with a waitlist for US borrowers ### CORE Score Underwriting Engine **Key features:** - Stage 1 automated CORE Score generated from business fundamentals, NAICS code, personal credit profile, and loan details - Stage 2 human underwriter review of business plan, management experience, and continuity strategy - Stage 3 automated geopolitical and regulatory risk assessment, escalated to a human underwriter when needed - Full underwriting typically completes within a few business days of document submission ### Partner API **Key features:** - Embeds PGI directly into lender, broker, and advisor platforms and deal workflows - Offered to referral partners including banks, brokers, M&A advisors, lawyers, and accountants ## Category & focus - Subcategories: Personal Guarantee Insurance, Embedded Insurance - Insurance verticals: P&C Commercial - Target customers: Consumers, Agents/Agencies ## Links - Website: - Directory profile: - Faq: - Blog: - Youtube: - Linkedin: - Application platform: - Launch press release: --- *Last updated: 2026\-08\-06*