What waiver must all insurance policies obtained by Christies International Real Estate franchisees contain?

According to Christies International Real Estate's 2025 Franchise Disclosure Document, all insurance policies, except workers' compensation, must include a waiver of subrogation in favor of Christies International Real Estate and its subsidiaries, affiliates, successors, and assigns, as well as their respective directors, officers, shareholders, members, managers, partners, employees, servants, representatives, independent contractors, and associates. This requirement ensures that the insurance company cannot pursue Christies International Real Estate to recover any payments made to cover a claim.

This waiver of subrogation is a standard practice in franchising to protect the franchisor from potential liabilities arising from the franchisee's operations. By including this waiver, Christies International Real Estate aims to shield itself from financial risks associated with the franchisee's business activities. This requirement is in addition to naming Christies International Real Estate as an additional insured on each policy, further safeguarding the franchisor's interests.

Prospective franchisees should carefully review the insurance requirements and ensure that their policies include the necessary waiver of subrogation. Failure to comply with these insurance requirements could result in a breach of the franchise agreement and potential penalties. It is advisable to consult with an insurance professional to ensure that all coverage meets the franchisor's specifications and adequately protects the franchisee's business.