Alyssa Lane
Walmart offers a range of insurance options for both its customers and suppliers. For customers, Walmart provides health care benefits through Included Health, which offers services such as finding doctors and specialists within your insurance network, booking appointments, and helping with billing inquiries. For suppliers, Walmart requires certain insurance coverages, such as commercial auto insurance and product liability insurance, with policies having a minimum of $1 million limit per occurrence. To find out more about your specific insurance plan and coverage, you can refer to the Memorandum of Insurance (MOI) on Walmart's Evidence of Insurance website or contact their customer support.
| Characteristics | Values |
|---|---|
| Insurance for Walmart suppliers | Small business insurance |
| Insurance cost | Depends on the product being sold and other factors |
| Insurance coverage | Commercial auto insurance, workers' compensation insurance, product liability insurance |
| Walmart employees' insurance | Health plans, prescription drug insurance |
| Walmart's self-insurance | Walmart can fund losses without an outside insurance company |
| Evidence of insurance | Memorandum of Insurance (MOI) |
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What You'll Learn
- Walmart requires its suppliers to have small business insurance
- Suppliers can get Walmart liability insurance from The Hartford
- Walmart offers health insurance plans to its employees
- Employees can add or update their insurance information online
- A Memorandum of Insurance (MOI) provides information about Walmart's insurance program
Walmart requires its suppliers to have small business insurance
Walmart requires its suppliers to have certain types of insurance to address legal costs and other liabilities that could result from claims or legal action related to their products. This insurance is intended to protect suppliers from costly liability claims. The cost of Walmart insurance coverage depends on the product being sold and other factors. For example, food items may have different insurance costs compared to non-food items. Suppliers can obtain Walmart liability insurance from The Hartford, which has experience in the unique risks faced by Walmart sellers and offers coverages to protect small business owners.
To do business with Walmart, suppliers must make their products, facilities, and records available for audits, inspections, and tests. They must also obtain the required audits, inspections, and tests in accordance with Walmart policy and provide the results to the company, collaborating to resolve any issues. The specific insurance requirements for suppliers are detailed in a separate document provided by Walmart.
The Hartford Insurance Group, Inc., which operates under the brand name The Hartford, offers coverages and services that may vary by state and may not be available to all businesses. Premiums are based on information provided to The Hartford, including underwriting and rating criteria. It is important to consult with an insurance agent or broker to determine specific coverage needs, as the information provided by Walmart is for educational purposes only.
Walmart, including its subsidiaries and affiliates, uses a combination of insurance, self-insured retentions, and self-insurance to meet its obligations and commitments to various parties, including suppliers. However, any obligations to provide coverage are outlined in written agreements between Walmart and the relevant parties, and the information provided on Walmart's website is for informational purposes only.
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Suppliers can get Walmart liability insurance from The Hartford
Walmart suppliers can get liability insurance from The Hartford, an insurance company with over 200 years of experience. The Hartford offers Walmart sellers protection from unexpected risks and costly claims and legal expenses.
Walmart mandates that suppliers selling goods in the United States have small business insurance. Suppliers who reach $100,000 in GMV (Gross Merchandise Value) in a 12-month period are required to maintain commercial general liability and product liability insurance. Without adequate insurance, suppliers may face large financial losses in the form of legal expenses and compensation for property damage or personal injury caused by faulty products.
The Hartford offers the following types of insurance coverage for Walmart suppliers:
- General Liability Insurance: This helps protect your business from claims of bodily injury or property damage.
- Commercial Auto Insurance: This covers the costs of an accident if you or your employees drive a company-owned vehicle, which is especially important for deliveries to Walmart stores.
- Workers' Compensation Insurance: This pays benefits to your employees as they recover from work-related injuries or illnesses.
- Product Liability Insurance: As part of a general liability insurance policy, this covers claims of product malfunctions or personal damages caused by faulty products.
The cost of insurance for Walmart suppliers depends on various factors, including the specific products sold, business assets, business size and income, and the type of insurance policy chosen. Suppliers can obtain a quote from The Hartford to learn more about the specific coverages and costs for their business.
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Walmart offers health insurance plans to its employees
Walmart's health insurance plans also include Included Health, a dedicated service that serves as a primary guide and resource for all medical and healthcare-related needs. Included Health helps employees find top doctors and specialists within their insurance network, books appointments, assists with understanding medical costs and billing, and provides remote second opinions from world-leading experts. This service is available at no additional cost to Walmart associates and their dependents covered by select health plans.
To enrol in Walmart's health insurance plans, employees can visit the Compare Plans page to explore the options available in their location. They can also take advantage of resources such as the Benefits Guide and Life Events Checklists to make informed decisions about their healthcare choices.
Walmart's health insurance offerings demonstrate the company's commitment to supporting its employees' well-being and ensuring they have access to the care they need when they need it. With a range of plans and services available, employees can feel empowered to take control of their health and make choices that best suit their individual needs.
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Employees can add or update their insurance information online
Walmart is working on an easier way for employees to add and update their insurance information online. Currently, there are two ways for employees to update their prescription drug insurance information. The first way is to call your local Walmart Pharmacy store and provide them with your updated insurance information over the phone. Be sure to confirm that they have saved the new information before placing your prescription drug order. The second way is to visit your local Walmart Pharmacy store and provide the pharmacy staff with your updated insurance information in person.
Walmart also has a self-insurance program, where it can fund losses without the use of an outside insurance company. In the event of a claim, it will be handled by a professional claims administrator. A Memorandum of Insurance (MOI) provides online information about Walmart's insurance program, including policy numbers, limits, and insurance companies. This information is available 24 hours a day, seven days a week, except during website maintenance and updates. The MOI can also be printed for record-keeping.
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A Memorandum of Insurance (MOI) provides information about Walmart's insurance program
Walmart Inc. and its subsidiaries and affiliates have a number of obligations and commitments to associates, customers, shareholders, landlords, business partners, etc. To address its responsibilities, Walmart uses a combination of insurance, self-insured retentions, and self-insurance.
A Memorandum of Insurance (MOI) provides on-line information about a company's insurance program. The MOI is available at any time, subject to website maintenance and information updates. The MOI does not have a signature, and the certificate holder's name is not shown. It also does not have the standard cancellation wording contained on a Certificate of Insurance. The MOI streamlines the process of issuing Certificates of Insurance and offers viewers the ability to verify that coverage is still in place.
Walmart plans to update the information on the Evidence of Insurance website at the time of any major change to Walmart’s insurance or self-insurance programs, including insurance policy renewal or a change in the Insurance Company. The MOI may indicate that the policies of insurance have been extended to provide Additional Insured status to a group of entities with whom the insured does business.
The information contained on the Evidence of Insurance website is for the benefit of those to whom Walmart has a contractual obligation to provide proof of insurance or self-insurance. Any obligations to provide coverage will be contained solely within a written agreement between Walmart and its Landlords, Lessors, Suppliers, Clients, etc.
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