What is the minimum notary professional liability insurance required for an Annex Brands franchise?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
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To ensure adequate insurance coverage, Subsection 9.I of the franchise agreement requires you to obtain and maintain in force, at your sole expense, under policies of insurance issued by carriers with no less than a Best's rating of A, the following:
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- Comprehensive general, public, and product liability insurance, against claims for bodily and personal injury, death, and property damage caused by or occu
Source: Item 8 — Restrictions on Sources of Products and Services (FDD pages 39–43)
What This Means (2025 FDD)
According to Annex Brands's 2025 Franchise Disclosure Document, franchisees must maintain notary professional liability insurance. The minimum coverage required is $500,000, but this may be lower depending on state regulations. If the maximum permitted by the state is less than $500,000, the franchisee is only required to obtain the maximum amount of coverage allowed by that state.
This insurance protects the franchisee against claims arising from errors or omissions in their notary services. It is important for prospective franchisees to check with their state's regulations regarding notary professional liability insurance to ensure they meet the minimum requirements.
Annex Brands also mandates that all insurance policies be issued by carriers with a Best's rating of A or higher, ensuring the financial stability and reliability of the insurance provider. This requirement aims to protect both the franchisee and Annex Brands from potential losses due to inadequate insurance coverage.