Regarding insurance policies, what advance written notice must be given to REMAX Regional, RE/MAX Holdings, Inc. and REMAX, LLC in the event of termination, expiration, cancellation, or modification of any such policy?

According to Remax's 2025 Franchise Disclosure Document, all insurance policies must include a provision that REMAX Regional, RE/MAX Holdings, Inc., and REMAX, LLC receive 30 days prior written notice if the policy is terminated, expires, is cancelled, or modified. This requirement ensures that Remax is informed of any changes to the franchisee's insurance coverage, allowing them to take necessary actions to protect their interests.

This notification requirement is a standard practice in franchising, as it protects the franchisor from potential liabilities arising from inadequate franchisee insurance coverage. By requiring the franchisee to provide evidence of insurance procurement, renewal, or extension at least 30 days before the effective date, Remax maintains oversight of the franchisee's compliance with insurance requirements.

Furthermore, Remax requires that all insurance policies contain a waiver by the insurance carrier of all subrogation rights against REMAX Regional, RE/MAX Holdings, Inc., REMAX, LLC and other parties covered by the insurance. This waiver prevents the insurance company from pursuing claims against Remax in the event of a loss, providing additional protection for the franchisor.