When must a certificate of insurance be furnished to Casiola?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
You must obtain the insurance coverage that we require from time to time as presently disclosed in the Manuals and as we may modify. All insurance policies required under your Franchise Agreement and as set forth in the Franchise Agreement must be written by a responsible carrier, reasonably acceptable to us, and all insurance, excluding workers' compensation, must name us, our officers, directors, shareholders, partners, agents, representatives and independent contractors as additional insureds. The insurance policies must include a provision that the insurance carrier must provide us with no less than 30 days' prior written notice in the event of a material alteration to, or cancellation of, any insurance policy. A certificate of insurance must be furnished by you to use at the earlier of 90 days after the Effective Date of the Franchise Agreement or prior to the commencement of our initial training program. Insurance coverage must be at least as comprehensive as the minimum requirements set forth below and in the Franchise Agreement (Franchise Agreement, Article 8). You must consult your carrier representative to determine the level of coverage necessary for the Franchised Business.
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 20–24)
What This Means (2024 FDD)
According to Casiola's 2024 Franchise Disclosure Document, a franchisee must furnish a certificate of insurance to Casiola at the earlier of two dates: 90 days after the effective date of the Franchise Agreement, or prior to the commencement of the initial training program. This requirement ensures that Casiola franchisees have adequate insurance coverage in place before they begin operating their business or undergoing training.
The insurance coverage must be at least as comprehensive as the minimum requirements set forth in the Franchise Agreement. It is the franchisee's responsibility to consult with their insurance carrier to determine the level of coverage necessary for the franchised business. This proactive approach ensures that franchisees are adequately protected against potential risks and liabilities associated with operating a Casiola franchise.
The required insurance policies must be written by a responsible carrier reasonably acceptable to Casiola. Furthermore, all insurance policies, excluding workers' compensation, must name Casiola, its officers, directors, shareholders, partners, agents, representatives, and independent contractors as additional insureds. The insurance policies must also include a provision that the insurance carrier provide Casiola with no less than 30 days' prior written notice in the event of a material alteration to, or cancellation of, any insurance policy. These stipulations protect Casiola from potential liabilities arising from the franchisee's operations and ensure that Casiola is promptly informed of any changes to the franchisee's insurance coverage.