What minimum rating must the insurance carrier have to be acceptable to Christies International Real Estate?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
The insurance coverage must be obtained from an admitted, responsible carrier or carriers acceptable to us, with a rating of at least "A" by Standard and Poor, Moody's and A.M. Best. In addition to or in lieu of the above, you must maintain any other insurance as may be required by statute or regulation of the state in which you operate the Business. If your state or local insurance requirements, including coverage requirements, are less stringent, less comprehensive, or lower than what we have specified, you must comply with our requirements. We will provide you with a list of approved insurance carriers, and related information in the Operations Manual, and you must obtain required insurance coverages from an approved insurance carrier. 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.
We may designate other policies, procedures, or standards regarding insurance in our Operations Manual from time to time.
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 must secure insurance coverage from carriers that meet a minimum rating. Specifically, the insurance provider must have a rating of at least "A" from Standard and Poor, Moody's, and A.M. Best. This requirement ensures that the insurance coverage is provided by financially stable and reputable companies.
This requirement is in place to protect both the franchisee and Christies International Real Estate from potential liabilities. By mandating a minimum rating, Christies International Real Estate aims to reduce the risk of an insurance carrier being unable to meet its obligations in the event of a claim. Franchisees must also name Christies International Real Estate, its affiliates, and their respective owners, officers, directors, and employees as additional insured parties on each required policy. Furthermore, all insurance policies must include a waiver of the insurance company's right of subrogation against Christies International Real Estate and must provide prior written notice of any material change, termination, expiration, or cancellation of any policy.
Christies International Real Estate retains the right to modify the minimum coverage and deductible requirements, as well as to require different or additional kinds of insurance to reflect changes in the economic landscape, industry standards, or liability and insurance coverage norms. The franchisor will provide franchisees with written notice at least 45 days before the revised insurance policies are required. Franchisees are also obligated to provide copies of the certificate of insurance, insurance policy endorsements, or other evidence of compliance with the insurance requirements to Christies International Real Estate at least two weeks before opening their business and upon renewal or extension of each policy.