What is the required employer's liability aggregate limit for workers compensation insurance for a Remax franchise regarding occupational disease?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
s, Inc., REMAX, LLC and other parties covered by the insurance; (iv) provides the same amount of coverage as you are required to obtain as set forth above; and (v) contains a provision that R
Source: Item 8 — Restrictions on Sources of Products and Services (FDD pages 47–53)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, a franchisee must maintain workers compensation insurance in amounts prescribed by law. This insurance includes employer's liability coverage with a limit of $1,000,000 for each accident, each occupational disease, and occupational disease aggregate.
This means that a Remax franchisee needs to secure workers' compensation insurance that covers their employees for work-related injuries and illnesses. The employer's liability portion of this insurance provides coverage to the franchisee if an employee sues them for damages beyond what is covered by the standard workers' compensation benefits. The $1,000,000 limit applies separately to each accident, each case of occupational disease, and the total claims related to occupational diseases.
It is important for prospective Remax franchisees to factor in the cost of this insurance when evaluating the financial feasibility of the franchise. They should consult with an insurance professional to understand the specific requirements in their state and to obtain quotes for the necessary coverage. Failing to maintain the required insurance coverage could result in penalties and potential legal liabilities for the franchisee.