Does Annex Brands require notary professional liability insurance?
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' 2025 Franchise Disclosure Document, franchisees are required to obtain notary professional liability insurance. The minimum coverage required is $500,000, but if the maximum permitted by the state is less than $500,000, the franchisee can obtain the maximum permitted by the state.
This requirement ensures that Annex Brands franchisees who offer notary services have adequate coverage against potential liabilities arising from errors or omissions in their notarial acts. This protects both the franchisee and their customers from financial losses due to negligence or misconduct.
Prospective franchisees should factor in the cost of this insurance when evaluating the overall investment required to start and operate an Annex Brands franchise. They should also check with their state's regulations to determine the maximum permitted coverage if it is less than $500,000.