What are the required coverage amounts per occurrence and in aggregate for the cyber insurance policy that Cicis franchisees must maintain?

According to Cicis's 2025 Franchise Disclosure Document, franchisees are required to maintain a cyber insurance policy with specific coverage amounts. This policy must provide coverage of $500,000 per occurrence and $500,000 in aggregate. This insurance is in addition to other required policies, such as commercial general liability, automobile liability, and worker's compensation.

The cyber insurance requirement highlights the increasing importance of protecting against data breaches and cyberattacks, which can be costly for businesses. By mandating this coverage, Cicis aims to mitigate potential financial losses and reputational damage that could arise from such incidents. Franchisees should factor in the cost of this insurance when assessing the overall investment and operating expenses of a Cicis franchise.

It is important to note that Cicis retains the right to modify the required types of insurance and coverage amounts at its discretion. Franchisees must secure coverage from carriers with an "A VII" or better rating from A.M. Best Company, Inc., and these carriers must be reasonably acceptable to Cicis. Furthermore, all policies must name Cicis, its affiliates, and their personnel as additional insureds and include a waiver of subrogation. The policies must also provide a 30-day advance notice to the additional insureds in case of cancellation.