Franchise businesses face many risks — physical damage to property, liability for customer injuries, employee injuries, cyber attacks and more. While insurance exists to protect your business against the costs of these types of incidents, your organization can also do a lot to help prevent them in the first place. These four simple risk management [...]
While this month is National Fire Prevention Month, fire safety should be top of mind for business owners throughout the year. In 2022 alone, non-residential structure fires reported to fire departments resulted in 1,400 injuries, 150 deaths and over $4 billion in property damage according to the National Fire Protection Association. However, many fires that [...]
Originally published September 28, 2021. Last updated July 30, 2024. Have a question about your insurance? You’re not alone. Choosing the right insurance for your business is one of the most important decisions you’ll make for it. Business coverage options are generally more complex than many non-business coverages, which can add to the confusion if [...]
The insurance market is saturated with partners looking to provide workers’ compensation, property, general liability, employment practices liability and several more types of insurance. With so many options available, it can be overwhelming to find a trustworthy, dedicated insurance partner that meets your franchise’s needs affordably. Read on to learn how Lockton Affinity worked directly [...]
Around the holidays, franchises can see an increase in claims. The reason for increased claims vary, but seasonal celebrations, weather and economic issues all play a part. Franchise holiday claims can cause stress and worry at a time that is already hectic and stressful. For franchises, we often see an increase in commercial auto claims [...]
Employment practices liability insurance protects your business from common claims and lawsuits brought by your employees. The number of lawsuits in the industry is rising and the cost to defend yourself against a claim can be substantial. Now more than ever it’s important to make sure your business is protected. Even though employment practices liability [...]
If your franchise offers delivery or other mobile services, your business faces certain risks that others don’t. Having employees that drive for work and company vehicles that need to be serviced and maintained increases your exposure to accidents, claims and liability lawsuits. Driver safety is paramount when it comes to minimizing your exposure while still [...]
Lack of good information has led to plenty of misconceptions about franchise business insurance. We wanted to take the opportunity to set the record straight about the 5 most common insurance misconceptions out there. 1. All insurance is basically the same. It’s a common insurance misconception that all insurance is basically the same. The thought [...]
At a restaurant, customers often order a combo meal, since it has everything most people need—entree, side and drink. Packaging a burger, fries and a soda into a combo meal makes a lot of sense, and it's similar to how a Business Owners Policy (BOP) works in insurance. A BOP makes it easy to get [...]