Who is the currently approved insurance supplier for Crisp & Green franchisees?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
ifications.
Insurance
You must obtain and maintain certain types and amounts of insurance coverage from an approved supplier of insurance. We have developed a custom insurance package with Christensen Group Insurance that meets our insurance requirements, and which is available for you to purchase. Christensen Group Insurance is currently the only approved supplier of insurance. All insurance policies must name us and others we designate as additional insureds. You must provide us with evidence of your insurance coverage before you begin operation of your Franchised Restaurant, upon annual renewal of your insurance, or otherwise within 10 days of our demand for proof.
Our current minimum insurance requirements are as follows: (i) all risks property insurance coverage in full replacement value of any leasehold improvements, furniture, fixtures and equipment, and including business income and extra expense; (ii) comprehensive general liability insurance with limits of at least $1,000,000 per occurrence and $2,000,000 in the general aggregate, including tenant's legal liability with limits of at least $300,000, personal and advertising injury with limits of at least $1,000,000, and products and completed operations in the aggregate with limits of at least $2,000,000; (iii) automobile liability insurance, including owned (if applicable), non-owned and hired vehicle coverage with a combined single limit of at least $1,000,000; (iv) worker's compensation and employer's liability insurance with employer's liability limits of $500,000 per accident, $500,000 in the aggregate, and $500,000 for disease, as well as any other insurance required by law; (v) excess/umbrella liability coverage with a limit of $3,000,000 per occurrence, $3,000,000 annual aggregate, that sits in excess of general liability, auto liability, and employer's liability / worke
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 26–31)
What This Means (2024 FDD)
According to Crisp & Green's 2024 Franchise Disclosure Document, franchisees must secure insurance coverage from an approved supplier. Currently, Christensen Group Insurance is the only approved insurance supplier. Crisp & Green has developed a custom insurance package with Christensen Group Insurance that meets their insurance requirements, which is available for franchisees to purchase.
Crisp & Green requires franchisees to maintain specific types and amounts of insurance coverage. These include all risks property insurance, comprehensive general liability insurance with limits of at least $1,000,000 per occurrence and $2,000,000 in the general aggregate, automobile liability insurance with a combined single limit of at least $1,000,000, worker's compensation and employer's liability insurance with employer's liability limits of $500,000 per accident, $500,000 in the aggregate, and $500,000 for disease, and excess/umbrella liability coverage with a limit of $3,000,000 per occurrence, $3,000,000 annual aggregate.
All insurance policies must name Crisp & Green and any other parties they designate as additional insureds. Franchisees must provide evidence of their insurance coverage before beginning operation, upon annual renewal, or within 10 days of Crisp & Green's demand for proof. If a franchisee wishes to use an alternative insurance supplier, they must seek approval from Crisp & Green, which may involve a fee and the submission of detailed information about the proposed supplier.