What is the minimum employer liability coverage required for a Goldfish Swim School?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
of any categories of Approved Supplies.
You must purchase the types of insurance and coverage amounts as we determine from time to time as provided in our Brand Standards Manual. At this time, we require that you purchase the following types of insurance coverage at the following limits of liability, but we reserve the change the types of insurance coverage and/or the levels of coverage in the future through our Brand Standards Manual: special form property coverage on all assets at 100% replacement cost basis without coinsurance; workers compensation at the statutory requirements; employer liability coverage in the minimum coverage of $500,000; comprehensive general liability insurance in the amounts of $1,000,000 per occ
Source: Item 8 — RESTRICTIONS ON SOURCES OF SERVICES AND PRODUCTS (FDD pages 27–30)
What This Means (2025 FDD)
According to Goldfish Swim School's 2025 Franchise Disclosure Document, franchisees must maintain employer liability coverage with a minimum coverage of $500,000. This requirement is part of a broader set of insurance obligations that Goldfish Swim School mandates to protect the business, its employees, and customers. However, Goldfish Swim School retains the right to modify these insurance coverage types and levels in the future through updates to the Brand Standards Manual.
For a prospective franchisee, this means allocating sufficient budget for insurance premiums to meet these minimum coverage levels. Employer liability insurance protects the franchisee against potential lawsuits or claims arising from employee injuries or illnesses sustained during their employment. Maintaining the required coverage is essential for compliance with the franchise agreement and to mitigate financial risks associated with workplace incidents.
It is important to note that the $500,000 is just the minimum, and Goldfish Swim School can increase this requirement. Franchisees should regularly review updates to the Brand Standards Manual to ensure they remain compliant with the latest insurance requirements. Additionally, franchisees may want to consult with an insurance professional to determine if higher coverage limits are appropriate for their specific circumstances, considering factors such as the number of employees and the nature of their work.