Coverage & Protection for Franchisors & Franchisees
Protect Your Franchise From Damaging Claims
As a franchisor, you’ve painstakingly grown your business and carefully selected your franchisees. With so much on the line, it’s critical that you apply the same criteria when it comes to your insurance.
Unfortunately, too many franchisors leave the responsibility of selecting the right insurance policy to their individual franchisees. The problem is that most of these owners end up working with local agents who don’t understand the specialized requirements of franchise insurance. The result is that your entire franchise business could be exposed to significant liabilities and potentially unlimited damages.
Work With An Agent Who Understands Franchises
When left to their own devices, we’ve often seen that individual franchise owners often don’t keep proper proper insurance records. Many don’t even cover you – the franchisor – as part of their policies. It’s not the franchisees’ fault; many of them are simply working with inexperienced agents who are not aware that the gaps in their coverage are exposing you to potentially huge claims.
When you work with Navion, we make sure that each of your franchisees has up-to-date records and the appropriate coverage
Insurance That Lets You Focus On Growing Your Business
At Navion, we understand the intricacies involved in the franchisor/franchisee relationship. As a result, we have years of experience developing insurance programs that protect both entities. Using our proprietary insurance tracking automation, we track the insurance programs of all of your franchisees – which allows you to focus on what matters most: growing your brand and expanding your business.
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In California, many construction classifications are divided into separate classifications based on the hourly wage of the employee for each classification. In the industry this is referred to as dual wage classification. Each pair of dual wage classifications is divided into two "high wage" and "low wage" classifications. The "high wage" classification generally has a substantially lower rate than the "low wage" classification. The California Workers Compensation Insurance Rating Bureau (WCIRB) has adjusted the hourly wage thresholds for certain dual wage classifications beginning in 2018. The new hourly wage thresholds are