Where can a Burros Fries franchisee find insurance specifications?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
pment, vendor and/or supplier approval requests; andadminister the System Advertising Fund.
13. OBLIGATIONS OF FRANCHISEE RELATING TO INSURANCE
A. Overall Coverage Required
Before Franchisee opens a Burros & Fries Franchised Business, Franchisee must purchase insurance coverage from a responsible carrier with a performance rating of A or higher as rated in the most recent edition of Best Insurance Reports (or comparable criteria as we may specify) and Franchisee must maintain such insurance throughout the duration of the initial term of the Franchise Agreement and any renewal terms. Franchisee shall list us as additional insured on all its insurance policies. Franchisee will procure and maintain general liability insurance with a minimum policy limit of $2,000,000 per occurrence and $4,000,000 aggregate (this policy should include general tort, premises damage, personal advertising injury and product liability insurance which covers Franchisee for damages that result in injury from products Franchisee distributes). Plus, property and casualty insurance with a minimum policy limit of $2,000,000 or an amount specified by the us.
Franchisee must also procure and maintain "All Risks" or "Special Form" insurance (coverage for the full cost of replacement of the premises and all other property); employer liability insurance, automobile liability insurance with coverage of owned and hired vehicles with minimum coverage in amounts not less than $100,000 combined single limit for bodily and property damage (or what is in accordance with Franchisee's state guidelines); business interruption insurance to fully insure loss of earnings for a period of one
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2024 FDD)
According to Burros Fries's 2024 Franchise Disclosure Document, the insurance coverage requirements are outlined in Section 13.A, titled "Overall Coverage Required." This section specifies the types and minimum amounts of insurance a franchisee must obtain and maintain throughout the franchise term.
A Burros Fries franchisee is required to purchase insurance coverage from a reputable carrier with a performance rating of A or higher, according to Best Insurance Reports. The franchisee must maintain this insurance throughout the term of the Franchise Agreement, including any renewals. Burros Fries must be listed as an additional insured on all insurance policies.
The required insurance includes general liability coverage with minimum limits of $2,000,000 per occurrence and $4,000,000 in aggregate, covering general tort, premises damage, personal advertising injury, and product liability. Additionally, franchisees need property and casualty insurance with a minimum policy limit of $2,000,000 or as specified by Burros Fries, as well as "All Risks" or "Special Form" insurance for the full replacement cost of the premises and property. Other requirements include employer liability insurance, automobile liability insurance with minimum coverage of $100,000, business interruption insurance for at least 180 days, and statutory workers' compensation insurance with limits exceeding $100,000 or the minimum required by law.