How often must a Pearce Bespoke franchisee furnish proof of insurance to the franchisor?

According to Pearce Bespoke's 2025 Franchise Disclosure Document, a franchisee must furnish proof of insurance to the franchisor on an annual basis and upon the franchisor's request. This proof can be in the form of endorsements or other documentation that the franchisor requires. This demonstrates that the franchisee has obtained and is maintaining all required insurance policies.

This requirement ensures that both the franchisee and Pearce Bespoke are protected against potential liabilities. The insurance policies must protect both parties and require the insurer to defend both in any action. Additionally, the policies must name Pearce Bespoke as an additional insured and provide 30 days' prior written notice before any cancellation, amendment, or modification.

If a Pearce Bespoke franchisee fails to provide the required insurance or proof of insurance, the franchisor has the right to obtain the necessary insurance or endorsements themselves. In such cases, the franchisee is responsible for promptly reimbursing Pearce Bespoke for all insurance premiums and other costs incurred. This underscores the importance of maintaining continuous and adequate insurance coverage as mandated by the franchise agreement.