Memorandum of Insurance

The Memorandum of Insurance document (MOI) provides online information about a company`s insurance program. This information includes policy numbers, limits and insurance companies. Arthur J. Gallagher Risk Management Services, Inc. prepares the Memorandum of Insurance document and the information can be viewed on this Web site. The Memorandum of Insurance is an acceptable method of confirming current policy coverage information. Click here to download. 

 

Differences between MOI and Certificate of Insurance:
The Memorandum of Insurance shows insurance information, just as a Certificate of Insurance does. The MOI has no signature, and the certificate holder`s name is not shown.

Key benefits of MOI:
Since the MOI is available to view on this Web site at any time, this reduces paperwork, phone calls and faxes involved in obtaining Certificates of Insurance. You can print a copy for your files. When you view the Memorandum of Insurance, select Print, within the menu.

MOI is accessible to view any time:
The Memorandum of Insurance is available at any time, subject to Web site maintenance and information updates. Arthur J. Gallagher Risk Management Services, Inc. plans to update the information on the Memorandum of Insurance Web site at the time of policy renewal and any time there is a major change in coverages, terms or insurance companies.

No notice of cancellation on a Memorandum of Insurance:
The Memorandum of Insurance streamlines the outdated, paper-intensive process of issuing Certificates of Insurance and offers you the ability to check the Memorandum of Insurance at any time to verify that coverage is still in place. Individuals who opt to view the Memorandum of Insurance are not tracked and therefore can not be notified of cancellation.

How to determine Additional Insured status if my company's name does not appear on the Memorandum of Insurance:
The MOI may indicate that the policies of insurance have been extended to provide Additional Insured status to certain entities with which the insured does business. Look carefully at the Description of Operations and Additional Information sections of the MOI for information regarding Additional Insured endorsements to the policies.

Financial ratings of the carriers:
Ratings are available through A.M. Best Company at www.ambest.com. Arthur J. Gallagher Risk Management Services, Inc. does not guarantee the financial ratings of carriers.

Renewal Information:
Arthur J. Gallagher Risk Management Services, Inc. will update the information on the Memorandum of Insurance at the time of policy renewal or any time there is a major change in coverages, terms or insurance companies.

 

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