What is the minimum umbrella liability coverage 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 coverage is part of the required insurance a franchisee must secure and maintain throughout the term of the Franchise Agreement.

In addition to the umbrella liability coverage, Bonchon franchisees are required to have other insurance policies, including broad form comprehensive general liability coverage with minimum limits of $2,000,000 in the aggregate and $1,000,000 per occurrence, 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.

The franchisee is responsible for ensuring they have all necessary insurance coverage, including worker's compensation, disability, and general liability, before participating in the Initial Training Program or Partner Training Program. These coverage requirements are subject to change, and additional insurance may be required for Remote Kitchen Restaurants based on lease terms. It is important for prospective franchisees to discuss these insurance requirements with Bonchon to understand the full scope of their obligations.