Must the contractual liability coverage for a Cool Binz franchise include an assumed personal injury endorsement?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
ific provider, although we reserve the right to specify the specific provider that you must use in the future.
Our current requirements are described below:
- Umbrella Policy and Commercial General Liability Insurance. You shall maintain a commercial umbrella liability insurance policy with a limit of at least $2,000,000 per occurrence and in the aggregate and shall list the commercial general liability, automobile liability and employers' liability policies as scheduled underlying policies. You shall maintain insurance for "bodily injury," "property damage," and "personal and advertising injury" with no exclusion or limitation applying to the products/completed operations liability coverage. Limits shall be at least $2,000,000 general aggregate, $2,000,000 products and completed operations aggregate, $1,000,000 personal and advertising injury limit, and $1,000,000 per occurrence limit. Contractual liability coverage including the assumed personal
injury endorsement shall be included to cover the indemnity provisions of this Agreement. The exclusion for employer's liability shall not apply to claims for covered contractually assumed liability claims. Cool Binz International, LLC, BELFOR Franchise Group, LLC, and BELFOR USA Group Inc. shall be named as an additional insured on such policy on a primary and noncontributory basis with a Grantor of Franchise Form CG2029 or an insurer's comparable form. Such policy sha
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, franchisees are required to maintain contractual liability coverage that includes an assumed personal injury endorsement. This coverage is specifically intended to cover the indemnity provisions outlined in the Franchise Agreement.
In practical terms, this means that a Cool Binz franchisee's insurance policy must protect Cool Binz International, LLC, BELFOR Franchise Group, LLC, and BELFOR USA Group Inc. from liabilities the franchisee assumes under the agreement, including those related to personal injuries. The policy must have limits of at least $2,000,000 general aggregate, $2,000,000 products and completed operations aggregate, $1,000,000 personal and advertising injury limit, and $1,000,000 per occurrence limit.
This requirement ensures that Cool Binz is protected from potential financial losses resulting from the franchisee's actions or negligence that lead to personal injury claims. Additionally, Cool Binz International, LLC, BELFOR Franchise Group, LLC, and BELFOR USA Group Inc. must be named as an additional insured on the franchisee's commercial general liability insurance policy on a primary and noncontributory basis. The policy must also contain a waiver of subrogation endorsement as to claims against Cool Binz International, LLC, BELFOR Franchise Group, LLC, and BELFOR USA Group Inc.