EUS/RFP 27-002 Insurance Broker

Broker/Risk Management Consultant. The district intends to award a one-year contract pursuant to N.J.S.A. 18A:18A-42 with two one-year renewal options at the discretion of the district.  

All brokers responding to this Request for Proposals (EUS/RFP 27-002) shall be currently licensed and authorized by the state of New Jersey, Department of Insurance to do business in the State of New Jersey.  

B.  SCOPE OF SERVICE

The Bridgeton Board of Education is currently under a three (3) year contract with New Jersey School Insurance Group (NJSIG) and a current member of ERIC South. The Board of Education desires to appoint an Insurance Broker/Risk Management Consultant who is familiar with the current operations.  The selected firm shall have a good working relationship with NJSIG and has knowledge and familiarity with other available New Jersey school insurance programs.

Services provided by the selected firm shall include, but shall not be limited to the following.

• Responsible for negotiating renewal of existing coverage.
• In the event the coverage is marketed, the firm shall evaluate all bids received and make recommendations to the Business Administrator.
• Assist the district in evaluating and settling all issues relating to insurance coverage, including regular reviews of loss reports.
• Monitor the financial and administrative strengths and ratings of the carrier(s) providing the board’s coverage.
• Recommend cost projections for other carriers.
• Provide reasonable preliminary renewal figures during the budget process.
• Provide Risk Management services.
• Participate in the district’s safety committee meetings.
• Participate in NJSIG meetings

C. QUALIFICATIONS OF RESPONDENTS

• Must be actively licensed as a New Jersey insurance broker for a minimum of five (5) years.
• Respondent shall have a minimum of five (5) years’ experience handling insurance coverage for Boards of Education in New Jersey.
• A minimum of three (3) years’ experience representing clients with coverage through NJSIG
• Experience handling Board of Education Builder’s Risk Insurance Coverage in connection with school construction projects as well as standard lines of coverage.
• Respondent’s principal office must be within the state of New Jersey