When will the Degree Wellness Management Company provide the Licensed Provider with certificates and copies of additional insured endorsements?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
- 8.6 In accordance with Management Company's obligations in Section 2.1(i), Management Company will provide Licensed Provider with (i) certificates and copies of additional insured endorsements evidencing the existence of such insurance concurrently with execution of this Agreement and from time to time upon demand of Management Company, and (ii) upon Licensed Provider's request stating the reason therefor (such as a claim has been filed), copies of the insurance policies, along with all applicable endorsements.
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 63–66)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, the Management Company will provide the Licensed Provider with certificates and copies of additional insured endorsements evidencing the existence of insurance concurrently with the execution of the agreement. These certificates and copies will also be provided from time to time upon demand of Management Company.
Additionally, upon the Licensed Provider's request, stating a valid reason such as a claim being filed, the Management Company will provide copies of the insurance policies, along with all applicable endorsements. This ensures that the Licensed Provider has access to necessary insurance documentation both at the start of the agreement and as needed during its term.
It is important for prospective Degree Wellness franchisees to understand their responsibilities regarding insurance and to maintain appropriate coverage as specified by the Management Company. The Licensed Provider remains responsible for any losses, damages, or contractual liabilities to third parties arising from the services provided or the operation of the studio, regardless of the existence of the insurance coverage maintained by the Management Company.