ents may be to us or to third parties.

Insurance

Before beginning operations under the License Agreement, you must obtain, and maintain in full force and effect during the term of the License Agreement, those insurance policies we require, including but not limited to the following, insuring you and us against any liability that may accrue by reason of your operation of the Business:

• 1. Comprehensive General Liability Insurance, including broad form contractual liability, broad form property damage, personal injury, completed operations, fire damage, advertising and products liability coverage, in the amount of $1,000,000 per occurrence for bodily injury and property damage.
• 1. Workers' Compensation and Employers Liability insurance in the minimum amount of $500,000 for bodily injury per accident, $500,000 for bodily disease per employee, $500,000 bodily disease policy limit, or such other amounts as may be prescribed by the state or locality in which the Business is located, unless your state requires that employers must participate in a state-administered insurance pool (in which case you must adopt and implement a qualifying plan).
• 1. Automobile liability coverage, including coverage of any owned, non-owned and hired vehicles, in amounts not less than $1,000,000 combined single limit.
• 1. Errors and omissions liability insurance in the minimum amount of $1,000,000 per occurrence covering real estate brokerage services plus any other approved services and products, as applicable, that any person associated with your Business offers.
• 1. Such other insurance as may be required by the state or locality in which the Business is located and operated.
• 1. Each policy, except workers' compensation, must name us as an additional insured. All policies must be endorsed to include a waiver of subrogation in our favor and our subsidiaries, affiliates, successors and assigns and their respective directors, officers, shareholders, members, managers, partners, employees, servants, representatives, independent contractors and associates.

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

Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 20–24)