What is the minimum employer's liability insurance limit by disease for a Cool Binz franchise?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
r leased vehicles and for hired and non-owned motor vehicles. Additionally, uninsured motorist and under-insured motorist coverage will be equal to the CSL.
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- Workers' Compensation and Employers' Liability. Statutorily required workers' compensation insurance and employer's liability insurance shall be maintained with limits of at least $1,000,000 by accident, $1,000,000 by disease and $1,000,000 policy limit; or the minimum limit required by your state, whichever is higher. Such policy shall contain a waiver of subrogation endorsement as to claims against Cool Binz International, LLC, BELFOR Franchise Group, LLC and BELFOR USA Group Inc. In "Monopolistic States", such as Ohio, North Dakota, Washington, Wyoming and West Virginia, "Stop Gap" covera
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, franchisees must maintain employer's liability insurance with a limit of at least $1,000,000 by disease. This requirement ensures that Cool Binz franchisees have sufficient coverage to protect their business and employees in the event of work-related illnesses.
In addition to the $1,000,000 disease limit, Cool Binz also requires employer's liability insurance with limits of at least $1,000,000 by accident and a $1,000,000 policy limit. Franchisees must also carry statutorily required workers' compensation insurance. The policy must include a waiver of subrogation endorsement that protects Cool Binz International, LLC, BELFOR Franchise Group, LLC, and BELFOR USA Group Inc. from claims.
For franchisees operating in monopolistic states like Ohio, North Dakota, Washington, Wyoming, and West Virginia, "Stop Gap" coverage is necessary and must be purchased separately or added to the Commercial General Liability (CGL) policy. In Ohio, the "Stop Gap" coverage must not exclude language related to events "substantially certain to occur". Franchisees should consult with their insurance agent to ensure they meet all the specific insurance requirements outlined by Cool Binz and any additional state-specific regulations.