Who must Christies International Real Estate franchisees name as additional insured on their insurance policies?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
You must name us, our affiliates, and our and our affiliates' respective owners, officers, directors, and employees as additional insured for each required policy. All insurance policies must contain a waiver of the insurance company's right of subrogation against us and must provide that we will receive prior written notice of any material change, termination, expiration or cancellation of any policy.
We may periodically change the minimum coverage and deductible requirements for you, and we may require different or additional kinds of insurance for you to reflect economic, industry, or standard changes in your liability and insurance coverage. We will provide you prior written notice and at least 45 days to obtain the revised insurance policies.
At least two weeks before you open your Business, you must provide us with copies of the certificate of insurance, insurance policy endorsements, or other evidence of compliance with our insurance requirements. Further, you must send us a copy of the evidence of the renewal or extension of each insurance policy in a form we require at least two weeks before the expiration of your then current policy.
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 20–24)
What This Means (2025 FDD)
According to Christies International Real Estate's 2025 Franchise Disclosure Document, franchisees are required to name specific parties as additional insured on their insurance policies. Specifically, Christies International Real Estate, its affiliates, and their respective owners, officers, directors, and employees must be included as additional insured for each required insurance policy.
This requirement ensures that Christies International Real Estate and its related parties are protected against potential liabilities arising from the franchisee's business operations. It also mandates that all insurance policies contain a waiver of the insurance company's right of subrogation against Christies International Real Estate. This waiver prevents the insurance company from pursuing claims against Christies International Real Estate to recover any payments made due to a claim.
Furthermore, the insurance policies must provide that Christies International Real Estate will receive prior written notice of any material change, termination, expiration, or cancellation of any policy. This notification requirement allows Christies International Real Estate to monitor the franchisee's insurance coverage and ensure continuous compliance with the franchisor's insurance requirements. Franchisees must provide copies of the certificate of insurance, policy endorsements, or other evidence of compliance at least two weeks before opening their business and upon renewal or extension of each policy.