Unfortunately it seems all 3 carriers which have the Apple Watch Series 4 don't cover lost or stolen protection. They only oder AppleCare for it from Apple only.
I spoke to a Rogers rep and they said that the protection they advised is from Apple which is AppleCare.
Unfortunately Apple Canada doesn't like to favour us with features like that or financing their products like they do with the US. This is something that Apple is lacking on as thy usually treat us with on par respect. Seems like either then or other forces are holding those back.