What must a Focus Cfo franchisee disclose in the annual statement regarding business insurance coverage?
Focus_Cfo Franchise · 2025 FDDAnswer from 2025 FDD Document
As part the annual renewal process of the Business Insurance Coverage set forth in Section 10.1, Franchisee is required to sign an annual statement prior to the annual renewal each year certifying that Franchisee is in compliance with Focus CFO's policies and procedures and disclosing any known circumstances that could result in a legal claim against Focus CFO, which could then lead to a potential insurance claim.
Franchisee will comply with this requirement within thirty (30) days of Focus CFO's request each year.
Source: Item 23 — Receipts (FDD pages 37–126)
What This Means (2025 FDD)
According to Focus Cfo's 2025 Franchise Disclosure Document, as part of the annual business insurance renewal process, a franchisee must sign an annual statement each year before the renewal. In this statement, the franchisee certifies compliance with Focus Cfo's policies and procedures.
Specifically, the franchisee must disclose any known circumstances that could potentially lead to a legal claim against Focus Cfo, which could then result in an insurance claim. This disclosure requirement is designed to ensure that Focus Cfo is aware of any potential liabilities and can adequately prepare for them.
The franchisee is required to comply with this request within thirty days of Focus Cfo's request each year, ensuring timely and up-to-date information regarding potential risks and liabilities. This allows Focus Cfo to maintain appropriate insurance coverage and manage potential claims effectively.