Insurance Requirements in Franchised Companies

Franchised companies often require what some believe to be excessive insurance requirements. This is because so often if a franchise is sued for any reason that the Lawyers go after the big money of the franchisors and name them in the lawsuit. It is amazing that a lawyer can write garbage in a lawsuit and file it in court and if you do not hire another lawyer to fight them, you could lose your entire life's work and company. But our legal system as most entrepreneurs agree is a complete joke and more closely represents the extortion tactics of the mob than any legitimate sense of fairness or truth. This is why franchisors must require huge limits of liability insurance and additional insured certificates as part of the franchise agreement.

It behooves a franchisor to set aside a place in the Official and Confidential Operations Manual to explain to franchisees why these requirements are in place. Franchisees are put at a disadvantage to other businesses in the market place due to the high costs of liability insurance required. But due to the lawsuits and lawyers it is imperative that these insurance policies are in place. When writing a chapter on required insurance for franchisees of a franchise system you will need to cover many sub topics. Below is an outline of our Insurance Requirements Chapter for our Franchise Company; CarWashGuys.com , feel free to print this article and outline and then modify it somewhat to fit your business model. Once this is done put a few paragraphs to each number and lettered item and then review it. Type it up double-spaced and have an attorney look it over and share it with your insurance agent and have their underwriters look it over for accuracy. Then once completed add it to your Confidential Operations Manual to prevent discontent from your franchisees. Think on this.

INSURANCE

I. REASONS

A. Liability Exposure

B. Marketing

C. Franchisor Help

D. Peace Of Mind

II. WHO REQUIRES IT

A. Industrial Customers

B. Property Management

C. Large Corporations

D. Franchisor

E. Government Accounts

III. LIMITATIONS

A. What It Doesn't Cover

B. Reasons

IV. LIABILITY COVERAGE AMOUNTS

A. Liability Completed Operations

B. Vehicle

C. Worker's Compensation

D. Theft, Etc.

V. OTHER

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.worldthinktank.net/wttbbs

Barrington South Lincoln Stretch rentals .. Lockport Chicago limo O’Hare
In The News:

Modeled after a traditional bell-shaped skirt worn by women in Kosovo, a theater's roof is draped entirely by solar panels to generate renewable energy on-site.
Kurt the CyberGuy explains how to protect yourself from malicious Chrome extensions that can steal sensitive information like password managers, crypto wallets and banking apps.
Stellantis' innovative STLA AutoDrive 1.0 system allows drivers to safely take their eyes off the road and their hands off the steering wheel.
Here are some travel hacks to save money on your next vacation including setting up price alerts, remaining flexible and checking for 24-hour price drops.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
One report claims at least 25 million people were targeted by infostealer malware between the beginning of 2023 and the end of 2024, capturing bank card details and passwords.
The LaserWeeder G2 uses lasers, artificial intelligence and advanced robotics to offer an alternative to chemicals traditionally used in farming.
Tech expert Kurt “CyberGuy" Knutsson says a malware app called SpyLend is posing as a financial tool, hitting 100,000-plus downloads.
Tech expert Kurt “CyberGuy" Knutsson says Clone Robotics’ Protoclone mimics humans with 1,000 muscles – too human for comfort.
Tech expert Kurt “CyberGuy" Knutsson urges you to use Apple’s App Privacy Report to see what your apps are really up to.
Tech expert Kurt “CyberGuy" Knutsson talks about how to smoothly transfer your data from an old laptop to a new one using cloud storage or external drives.
Kurt the CyberGuy offers tips to safeguard your personal information as scammers become more sophisticated with scam texts and other methods.
WeRide's unmanned electric delivery van, the Robovan W5, has 194 cubic feet of cargo space and can carry payloads up to about 2,205 pounds
Kurt the CyberGuy recommends deleting 16 browser extensions immediately in response to a report saying more than 3.2 million web users were affected by a security breach.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
A robotics firm in China claims a robot has performed the world's first humanoid robot front flip, which is significantly more difficult than a backflip.
A digital ID may be even more secure than a physical ID. Storing your driver's license in your Apple Wallet is an ideal solution for commuters.
A cybersecurity firm has shed some light on just how common tax scams have become. Kurt the CyberGuy offers his advice for how to protect your refund.
Lifesize Plans offers immersive walk-throughs that allow customers the opportunity to tour a home's design before construction actually begins.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
A man invested $4 million in bitcoin and lost it all with a single click when he was targeted by a vishing scam, which uses phone calls to trick people.
Expandable's Touchdown is a designer trailer that promises a luxury off-grid living experience and unfolds into a home in about 15 minutes.
Major employee screening company data breach affects 3.3 million people. Tech expert Kurt “CyberGuy" Knutsson explains what happened and gives five ways to protect your data.
Kurt “CyberGuy" Knutsson reveals mind-blowing tech that gives you sunlight on demand.
New malware "FrigidStealer" targets Mac computers. Tech expert Kurt “CyberGuy" Knutsson offers four ways to stay safe from infostealer malware.

Is Plan B Ready?

Business owners and entrepreneurs are, by nature, risk takers and... Read More

The Impact of Price Popularity on Profits

The goal of almost every business owner is to generate... Read More

Have You Identified the Enemy?

One of the most powerful driving forces in human nature... Read More

Breaking the Growth Barriers in the Information Technology and Software Sector

There's nothing automatic about corporate growth, particularly in the information... Read More

Break-Even Analysis

A significant advantage of some business ideas is that the... Read More

Secrets Of Effective Brainstorming

Have you been in a "brainstorming" session where each person... Read More

The Tables Have Turned - Its Officially a Sellers Market

Private equity firms have raised so much capital over the... Read More

Pressure Washing Entrepreneurs Can Help With Government NPDES Permits

If you own a pressure washing business one of the... Read More

Abstract Thought; Business Strategies and Biological Systems

To stop a computer virus you must understand how it... Read More

Three Steps to Give Your Strategic Plan Traction

We all agree Strategic Planning is a critical part of... Read More

The Top Five Reasons Strategic Plans Fail

"Most great plans aren't. They are just nice, high-level ideas."That's... Read More

Top 10 Tips to Create A Business Plan! (For People Who Hate Business Plans)

One of the key challenges for any business is to... Read More

Why Create an Annual Plan?

Can you imagine going on a road trip without knowing... Read More

Shortening Product Life Cycle!

The current state of the available technology at the disposal... Read More

Call in the SWOT Team: Produce More Opportunities to Expand Your Business

Have you ever done a SWOT analysis? No, it's not... Read More

The Power of Planning

I am surprised how few sales professionals, independent consultants, and... Read More

Why Six Sigma Will Work in Healthcare

If ever there were an industry where we want zero... Read More

What is a Shared Vision?

So what makes a vision successful? Everyday companies try to... Read More

10 Critical Facts to Put On the Cover of Your Business Plan...

In most business plans, no matter how striking the idea,... Read More

Are You Aware of Planning in Business?

Human beings are rational agents. Rationality endorses one to take... Read More

GOT MEME? How to Attract Your Clients and Customers Attention

No "meme" isn't a typo and Got Milk, the more... Read More

Building a Better Brick-and-Mortar with the Billion-Dollar Web

More than $117 billion passed hands from Internet shoppers to... Read More

Creating a Vision That Achieves Results

How important is a vision statement to your company or... Read More

Who is Responsible?

While writing an article recently on effective ways to bridge... Read More

Mining Market Data

With a heightened awareness of opportunity, ideas can often be... Read More

Downers Grove limo Chicago ..