Who must be named as an additional insured on the insurance policies of a Christies International Real Estate franchise?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
All insurance policies will: (1) be issued by an insurance carrier(s) acceptable to us; (2) will name us and our affiliates as an additional named insureds; (3) contain a waiver of the insurance company's right of subrogation against us; (4) contain the minimum insurance coverage that we designate in the Operations Manual for each CHRISTIE'S INTERNATIONAL REAL ESTATE business that you operate, including this Business; and (5) provide that we will receive 30 days' prior written notice of any material change in or termination, expiration or cancellation of any policy.
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate Franchise Disclosure Document, Christies International Real Estate and its affiliates must be named as additional insureds on all insurance policies that the franchisee is required to purchase and maintain.
This requirement means that Christies International Real Estate has a vested interest in the franchisee's insurance coverage. If a claim arises where the franchisee's actions could potentially create liability for Christies International Real Estate, the franchisor is protected by being named as an additional insured. This is a fairly standard practice in franchising, as it shields the franchisor from certain liabilities arising from the franchisee's operations.
The franchisee is responsible for securing insurance policies from carriers acceptable to Christies International Real Estate, ensuring that these policies include a waiver of the insurance company's right of subrogation against Christies International Real Estate. The franchisee must also provide copies of insurance certificates and policy endorsements to Christies International Real Estate before commencing business and upon renewal or extension of each policy. Furthermore, Christies International Real Estate retains the right to increase minimum liability protection requirements or require different or additional kinds of insurance with prior written notice to the franchisee.