What are the workers' compensation insurance requirements for a Card My Yard franchisee?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
n in favor of us, our Affiliates and the officers, directors, shareholders, partners, members, agents, representatives, independent contractors, servants and employees of each of them.
- C. Workers' Compensation Insurance. If applicable, you must maintain workers' compensation (Coverage A) with statutory limits complying with the laws of the applicable state, and employer's liability (Coverage B) with limits not
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, franchisees must maintain workers' compensation insurance if applicable. This includes Coverage A with statutory limits that comply with the laws of the state where the Card My Yard business operates. Additionally, franchisees must have employer's liability insurance (Coverage B) with limits of not less than $1,000,000 per accident, a $1,000,000 disease policy limit, and $1,000,000 disease per employee.
The insurance policy must include a waiver of subrogation endorsement in favor of Card My Yard. This means that the insurance company will not be able to seek compensation from Card My Yard for any claims they pay out on behalf of the franchisee.
It is important for prospective Card My Yard franchisees to understand these insurance requirements and factor the costs of these policies into their business plan. Franchisees should consult with an insurance professional to ensure they obtain the appropriate coverage to meet these requirements and to understand the specific laws and regulations in their state.