What is the minimum coverage amount per occurrence for Cicis' cyber insurance policy?

According to Cicis' 2025 Franchise Disclosure Document, franchisees are required to maintain a cyber insurance policy with a minimum coverage of $500,000 per occurrence. The policy must also have an aggregate coverage of $500,000.

This requirement ensures that Cicis franchisees have financial protection in the event of a cyberattack or data breach that could compromise customer data or disrupt business operations. Cyber insurance can help cover costs associated with data recovery, legal fees, customer notification, and other expenses related to a cyber incident.

It is important for prospective Cicis franchisees to factor in the cost of this cyber insurance policy when evaluating the overall investment required to start and operate a franchise. Franchisees should also consult with an insurance professional to determine if additional coverage is necessary to adequately protect their business from cyber risks, as Cicis states that their insurance requirements represent only the minimum coverage they deem acceptable to protect their interests.