What AM Best rating is generally required for insurance companies providing coverage to Aira Fitness franchisees?

According to Aira Fitness's 2025 Franchise Disclosure Document, insurance policies obtained by franchisees must generally be written by insurance companies with an AM Best rating of A- or better. This requirement ensures that the insurance provider has a strong financial standing and the ability to cover potential claims.

For a prospective Aira Fitness franchisee, this means they will need to verify the AM Best rating of their insurance company to ensure compliance with Aira Fitness's standards. If the franchisee's preferred insurance company does not meet this rating, they may need to seek coverage from an alternative provider that does. Aira Fitness also retains the right to approve the insurance supplier, potentially limiting the franchisee's choice to pre-approved providers.

It is important to note that Aira Fitness may require franchisees to purchase insurance from a supplier they have approved and participate in any insurance plan established for the benefit of the Aira Fitness system. Franchisees are also responsible for providing proof of insurance coverage to Aira Fitness at commencement and annually, or upon request. Failure to maintain the required insurance coverage allows Aira Fitness to procure insurance on the franchisee's behalf and charge the franchisee for the costs incurred.