Improved Insurance Coverage

Fast Casual Restaurant Franchise

Improved Insurance Coverage

The Situation

  • Fanchisor was named in a lawsuit for the actions of a franchisee.
  • Franchisor did not have insurance coverage to protect against the claim named in the lawsuit.
  • Insurance agent was not providing value, shopping policies or making recommendations as to improving coverage or eliminating gaps.

The Solution

  • Worked in conjunction with legal team and Franchise Business Coaches to successfully limit liability and extricate franchisor from the lawsuit. Cost about $10-20K in legal fees.
  • Interviewed 3 insurance agents to better understand the coverages and policies the client should have maintained and what the cost should be.

The Results

  • Obtained much better service, significantly higher limits, and added both Cyber Crime and Employer Practice Liability insurance coverage for less than the previous agent's premiums.
  • Worked with client staff to revise training manuals and policies to specifically target and reduce opportunities for similar lawsuits in the future regardless of insurance coverage or not.

Leading Confidently

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