What are the requirements for the insurers and forms used for a Counselor Realty franchisee's insurance?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
Business and any change in the Franchisee's organizational documents.
- 8.2 Insurance. You must maintain types and levels of insurance coverage required by the state in which you operate your Business. You also must maintain other insurance required by law, and by your Office (including any Additional Office and Extension Office) lease or mortgage, and errors and omissions insurance coverage. You must maintain general liability insurance on an occurrence basis with a minimum limit of at least $1,000,000 per occurrence and $2,000,000 in the aggregate, and errors and omission insurance with a minimum limit of at least $1,000,000. Insurance shall be with insurers and on forms acceptable to us, shall name Counselor as an additional insured, and waive subrogation. If we buy such insurance because you fail to do so (which we may, but ar
Source: Item 22 — CONTRACTS (FDD page 32)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, franchisees must maintain the types and levels of insurance coverage required by the state in which they operate their business. This includes any insurance required by law and by the office lease or mortgage, as well as errors and omissions insurance coverage.
Counselor Realty requires franchisees to maintain general liability insurance on an occurrence basis with a minimum limit of at least $1,000,000 per occurrence and $2,000,000 in the aggregate. Additionally, franchisees must have errors and omissions insurance with a minimum limit of at least $1,000,000.
The insurance must be with insurers and on forms acceptable to Counselor Realty. The policy must name Counselor Realty as an additional insured and include a waiver of subrogation. If a franchisee fails to maintain the required insurance, Counselor Realty has the option, but not the obligation, to buy such insurance and seek immediate reimbursement from the franchisee.