Improved Insurance Coverage
Fast Casual Restaurant Franchise
- 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.
- 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.
- 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.
Buying An Electric Vehicle Through A Company: Frequently Asked Questions (FAQs)
by Bailey McRae Considering buying an electric vehicle through your company? With more and more companies like Amazon investing in electric delivery …
Small Business Use of Vehicles FAQ: ‘Ask The Experts’
By: Lucrum StaffNovember 2022 This is our fifth installment of our ‘Ask The Experts’ series (check out our first, second and third …