What is the minimum umbrella liability coverage amount required for a Bonchon franchise?

According to Bonchon's 2025 Franchise Disclosure Document, franchisees must maintain umbrella liability coverage of no less than $2,000,000. This insurance coverage is one of several types of insurance Bonchon requires franchisees to secure and maintain throughout the term of the Franchise Agreement.

In addition to umbrella liability coverage, Bonchon also mandates broad form comprehensive general liability coverage and broad form contractual liability coverage of at least $2,000,000 in the aggregate and $1,000,000 per occurrence. Franchisees must also obtain special cause of loss coverage, dram shop liquor liability insurance (if applicable), business interruption insurance, automobile liability insurance (if a vehicle is used), and workers compensation insurance.

Bonchon's insurance requirements are subject to change, and franchisees must secure all necessary coverage, including worker's compensation, disability, and general liability, before participating in the Initial Training Program or Partner Training Program. Furthermore, if operating a Remote Kitchen Restaurant, additional insurance coverage may be required under the terms of the restaurant's lease. Failure to maintain the required insurance coverage constitutes a breach of the Franchise Agreement.