What is the minimum limit for each claim for cyber risk insurance at a Petro Stopping Center?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
required by all applicable laws in which your Petro Center is located.
- (f) Employer's Liability insurance, with limits of at least one million dollars ($1,000,000) per accident. The policy must list us and our Affiliates, directors, officers, agents and employees as additional insureds.
- (g) Cyber Risk insurance, with limits of not less than $2,000,000 for each claim, covering claims arising out of or related to (a) investigation of an actual or alleged security failure, privacy event, security breach of other related incident, including but not limited to forensic services, legal counsel, and breach coaching services, breach response, and notification services, call center services, credit and identity theft monitoring and protection services, media and public relations services; (b) business income/business interruption/extra expense; (c) digital and data asset protection and restoration; (d) network security & consumer privacy liability; (e) regulatory defense and
Source: Item 14 — Other investments (FDD pages 131–208)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, franchisees are required to maintain cyber risk insurance with a limit of not less than $2,000,000 for each claim. This insurance coverage must address claims related to security failures, privacy events, security breaches, and other related incidents. The coverage includes forensic services, legal counsel, breach coaching, breach response, notification services, call center services, and credit and identity theft monitoring.
Furthermore, the cyber risk insurance must cover business income interruption, extra expenses, digital and data asset protection and restoration, network security, consumer privacy liability, regulatory defense and indemnification (including fines and assessments), multimedia liability, cyber extortion (including ransomware), and social engineering or other forms of electronic manipulation that result in covered loss.
This requirement ensures that Petro Stopping Center franchisees are financially protected against a wide range of cyber threats and liabilities, which is increasingly important in today's digital landscape. Franchisees must secure this coverage to comply with Petro Stopping Center's standards and to mitigate potential financial risks associated with cyber incidents.