What are the requirements for the insurance carrier issuing policies for 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 FDD, franchisees must secure insurance policies from carriers that meet specific criteria set by the company. These carriers must be acceptable to Christies International Real Estate. The policies must also name Christies International Real Estate and its affiliates as additional insured parties.
Furthermore, the insurance policies are required to include a waiver of the insurance company's right of subrogation against Christies International Real Estate. The coverage must meet the minimum requirements outlined in the Operations Manual for each Christies International Real Estate business the franchisee operates.
Finally, Christies International Real Estate needs to receive a 30-day prior written notice regarding any significant changes, termination, expiration, or cancellation of any policy. This ensures that Christies International Real Estate is kept informed and can take necessary actions to protect its interests and maintain consistent risk management across its franchise network.