What is the required per occurrence limit for Fitstop's Employee Dishonesty/"3-D" insurance?

According to Fitstop's 2024 Franchise Disclosure Document, franchisees are required to maintain Employee Dishonesty/"3-D" insurance with a limit of $300,000 per occurrence. This type of insurance protects the franchisee from financial losses resulting from dishonest acts committed by their employees, such as theft or embezzlement.

The per occurrence limit specifies the maximum amount the insurance company will pay for a single incident. Fitstop requires this coverage to safeguard the business against potential financial harm caused by employee misconduct.

Maintaining adequate insurance coverage is a standard requirement in franchising, designed to protect both the franchisee and the franchisor from unforeseen liabilities and financial losses. Franchisees must ensure they obtain the required insurance policies and provide proof of coverage to Fitstop, as detailed elsewhere in the FDD.