What Best's Insurance Guide rating must the insurance carriers acceptable to Bonchon possess?

According to Bonchon's 2025 Franchise Disclosure Document, the insurance carriers that franchisees use must have a minimum rating from Best's Insurance Guide. Specifically, Bonchon requires that franchisees obtain insurance from carriers possessing a Best's Insurance Guide rating of no less than "A".

This requirement ensures that Bonchon franchisees are using reputable and financially stable insurance providers. A Best's Insurance Guide rating of "A" indicates that the insurance company has an excellent ability to meet its ongoing obligations to policyholders. This is important for Bonchon to protect its brand and avoid potential liabilities arising from under-insured or non-insured franchisee activities.

Prospective Bonchon franchisees should verify that their current insurance providers meet this minimum rating or be prepared to switch to a provider that does. This requirement is not uncommon in franchising, as franchisors often set minimum standards for insurance coverage and carrier ratings to protect the entire franchise system.