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

means having a plan

Become a Success Story
Recent Articles

6 Smart Ways For Brewers To Leverage Cashflow Projections for Business Planning

By: Jason AlexanderUpdated May 2022 We’ve all heard the old adage that cash is king. But brewers are often more focused on …

5 key internal business factors

4 Internal Factors That Make a Business More Competitive

By: Jeffrey HeybruckUpdated May 2022 Business-as-usual often means focusing on external factors such as growing sales or expanding outward facing products and …

4 ways to increase revenue

4 Ways to Increase Revenue

By: Jeffrey HeybruckUpdated April 2022 Ready to hit the next revenue milestone? Our team of CFOs have compiled a list of strategic …