When must the required insurance policies commence for a Remax office?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
All required insurance policies must commence the day the Office begins business operations and must name REMAX Regional, RE/MAX Holdings, Inc. and REMAX, LLC (and other Related Parties that we may designate, as well as their respective officers, directors, and employees) as additional insureds. The total limit of the insurance available to REMAX Regional, RE/MAX Holdings, Inc. and REMAX, LLC under these insurance policies is to be primary and noncontributory. As such, each required insurance policy must provide REMAX Regional, RE/MAX Holdings, Inc. and REMAX, LLC primary and noncontributory insurance coverage, meaning each policy must contain language stating to the effect that such policy will be primary to all other insurance available to REMAX Regional, RE/MAX Holdings, Inc. and REMAX, LLC and such insurer will not seek contribution from any other insurance available to REMAX Regional, RE/MAX Holdings, Inc. and REMAX, LLC.
Source: Item 22 — Contracts (FDD pages 108–334)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, all required insurance policies must commence on the day the office begins business operations. These policies must name REMAX Regional, RE/MAX Holdings, Inc., and REMAX, LLC (along with any other related parties that Remax designates, including their officers, directors, and employees) as additional insureds.
Furthermore, the insurance coverage available to REMAX Regional, RE/MAX Holdings, Inc., and REMAX, LLC must be primary and noncontributory. This means that each required insurance policy should include language stating that it will be primary to all other insurance available to these entities and that the insurer will not seek contribution from any other insurance available to them.
Remax also requires that franchisees furnish a copy of the certificate or other evidence of the procurement, renewal, or extension of each insurance policy at least 30 days before the effective date of such procurement, renewal, or extension. This certificate must demonstrate compliance with all required insurance specifications and be provided annually or upon request. Additionally, all insurance policies must contain a waiver of subrogation rights against REMAX Regional, RE/MAX Holdings, Inc., REMAX, LLC, and other covered parties, and must provide 30 days prior written notice of any termination, expiration, cancellation, or modification of the policy to REMAX Regional, RE/MAX Holdings, Inc., and REMAX, LLC.