Frequently Asked Questions
Walgreens has compiled a list of the most common questions regarding the Self-Insured Letters and the Memorandum of Insurance (MOI) as evidence of insurance. You will find the answers to these questions below:
What does it mean when it says Walgreens has the right to "Self-Insure"?
Due to our financial size and strength, Walgreens is able to accept responsibility to pay eligible claims arising from the operation of our Walgreens Stores. Please refer to your signed lease, contract, and/or agreement for more information.
What is a Memorandum of Insurance (MOI)?
The Memorandum of Insurance (MOI) is an on-line document that provides information about Walgreens commercial insurance program. This information includes our policy numbers, limits, and insurance companies and is used only when Self-Insurance is not allowed.
Are a Self-Insurance Letter and/or a MOI, evidence of insurance?
Yes. Both the Self-Insured Letter and the MOI are acceptable methods to evidence current insurance information. When we provide these documents, we have fulfilled our obligations to provide evidence of insurance under the terms of the signed contract, lease, and/or agreement.
How is the Memorandum of Insurance (MOI)different from a Certificate of Insurance (COI)?
The two documents are virtually the same. The MOI shows insurance information, just as a Certificate of Insurance (COI) does; and both are for information purposes only. The MOI has no signature, it is not individualized with a certificate holder's name, the MOI does not contain the standard cancellation wording like a COI, and it is called a 'Memorandum of Insurance' rather than a 'Certificate of Insurance'.
Can the Self-Insured Letter and/or the MOI be printed?
Yes, since both are PDF files, you can print them by selecting 'File' and then 'Print' in the document.
What are the financial ratings of the carriers listed on the MOI?
The Financial Ratings of Insurance Companies are available through the A.M. Best Company at www.ambest.com. Neither Walgreens nor our Insurance Broker guarantees the financial ratings of carriers and we are not involved in the rating process. Walgreens is committed to only obtain coverage with insurance carriers who have an "A-" or better AM Best rating.
Why has the notice of cancellation been eliminated on the MOI?
The MOI streamlines the outdated, paper-intensive process of issuing COIs and offers you the ability to check the MOI any time to verify that the coverage is still in place. Viewers who access the MOI are not tracked, therefore cannot be notified of a cancellation.
How do I know that I am an Additional Insured when Walgreens is Self-Insured?
The process of being added/listed as Additional Insured is only necessary when commercial insurance is involved. When Walgreens provides Self-Insurance on a location, we are bound to indemnify all relevant parties by the Mutual Indemnity clause in the signed contract, lease, and/or agreement. All self-insurance proceeds are for the benefits of the Landlord and any other party to the signed contract, lease, and/or agreement, as required by the signed contract, lease, and/or agreement.
Is this insurance information available 24 hours a day, 7 days a week?
The Walgreen.com/Insurance website is available at any time, subject to web site maintenance and information updates. This eliminates the paperwork, phone calls, and faxes involved in obtaining paper COIs.
Can I receive Insurance coverage, even without a signed contract, lease, and/or agreement?
No insurance coverage or obligations to provide coverage arise except, and to the extent, as is expressly contained within an existing signed contract, lease and/or agreement executed by Walgreens and/or one of its subsidiaries.
Can I have a set of customized insurance evidence documents?
Walgreens no longer issues individualized evidence of insurance documents (COI or MOI). Customized certificates or memorandums will not strengthen the coverage, and are therefore unnecessary and as such we will not provide them. The existence of the signed lease triggers protection under our insurance and self-insurance programs.
How do I know that I am an Additional Insured if my name does not appear on the MOI?
Walgreens, in conjunction with our Insurance Carriers, provides groups with Additional Insured status where applicable, as required by the terms of a signed contract, lease, and/or agreement. This is accomplished through a blanket additional insured endorsement to the policy, which provides for Additional Insured status to any person or group who has been so named in a signed contract, lease, and/or agreement. Specific information pertaining to this endorsement is included in the various MOI documents on this website.
Can I have my individual contract/lease/agreement number included on the Self-Insured Letter or the MOI?
No, the Self-Insured Letters and the MOI are documents designed to apply to all contracts, leases, and/or agreements without the need for specific identifiers. This document can be attached to all contracts, leases, and agreements proactively without seeking assistance from Walgreens.
What happens to the insurance information at renewal?
Walgreens, in conjunction with our Insurance Broke will update the information in the Self-Insured Letter and the MOI at the time of policy renewal and any time there is a major change in coverage, coverage terms, or insurance carrier.
Who do I contact if I have more questions about evidence of insurance?
For more information please contact us at:
Insurance & Risk Management Department
c/o Evidence of Insurance
1417 Lake-Cook Road; MS L263
Deerfield, Illinois 60015