What factors can influence the cost of insurance policies for an Eos Worldwide franchisee?
Eos_Worldwide Franchise · 2025 FDDAnswer from 2025 FDD Document
(b) The cost of the insurance policies may vary depending on the insurance carrier charges, terms of payment, broker commissions, risk profile, deductibles, anticipated or actual business volume, and your loss history. *The standards and specifications for insurance coverage as set forth in this Agreement and in the Operations Manual are intended as "minimum" standards and you must review your insurance coverage and policies, and you should consult with your insurance agents, brokers, legal counsel or other insurance advisors, to determine if additional coverage is necessary, desired or appropriate for your Franchise in addition to the coverage and limits required by us.
Source: Item 23 — RECEIPTS (FDD pages 74–246)
What This Means (2025 FDD)
According to Eos Worldwide's 2025 Franchise Disclosure Document, several factors can influence the cost of insurance policies for franchisees. These factors include the insurance carrier's charges, the terms of payment, broker commissions, the franchisee's risk profile, the deductible amount, anticipated or actual business volume, and the franchisee's loss history.
Eos Worldwide requires franchisees to secure and maintain commercial insurance coverage consistent with industry standards for business coaches. The specific types and minimum coverage amounts are detailed in the Franchise Agreement and Operations Manual. However, these are considered minimum standards, and franchisees are encouraged to consult with insurance professionals to determine if additional coverage is necessary for their specific circumstances.
Prospective Eos Worldwide franchisees should carefully consider these factors when budgeting for their initial and ongoing operational costs. Understanding how these elements affect insurance premiums can help franchisees make informed decisions about their coverage and manage their expenses effectively. Additionally, franchisees must comply with Eos Worldwide's insurance requirements, as failure to do so may result in the franchisor purchasing insurance on their behalf and charging the franchisee the premium cost plus an administrative fee of up to 20%.