Los Angeles-based FranchisePerils, a division of ExecutivePerils Inc., has launched FranchisorSuite, a comprehensive five-in-one insurance policy written exclusively for franchisors.
Tthe policy is designed to protect franchisors against the most common lawsuits filed by franchisees, investors, government agencies and their own employees.
It features five areas of coverage: Directors & Officers Liability, Franchisors Errors & Omissions, Employment Practices Liability, Fiduciary Liability, and Vicarious Liability.
Prior to this launch of FranchisorSuite, franchisors had to purchase two-to-three separate coverage plans to obtain liability coverage, and that only provided some 70 percent of what is being offered now with this product, the company said.
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