What specific coverage aspects must the commercial general liability insurance for a Cool Binz franchise include?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
d 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 must maintain commercial general liability insurance that covers "bodily injury," "property damage," and "personal and advertising injury" without exclusions or limitations on products/completed operations liability coverage. The required limits are at least $2,000,000 for the general aggregate, $2,000,000 for products and completed operations aggregate, $1,000,000 for personal and advertising injury limit, and $1,000,000 per occurrence limit.
The policy must include contractual liability coverage, including an assumed personal injury endorsement, to cover the indemnity provisions outlined in the Franchise Agreement. The exclusion for employer's liability should not apply to claims for covered contractually assumed liability claims. Cool Binz International, LLC, BELFOR Franchise Group, LLC, and BELFOR USA Group Inc. must be named as additional insured parties on a primary and noncontributory basis, utilizing a Grantor of Franchise Form CG2029 or a comparable form from the insurer.
Furthermore, the policy must include a waiver of subrogation endorsement regarding claims against Cool Binz International, LLC, BELFOR Franchise Group, LLC, and BELFOR USA Group Inc. These insurance requirements ensure that both the franchisee and Cool Binz are protected against potential liabilities and claims arising from the operation of the franchise.