Insurance Brokerage Services

The government authority in East Orange, New Jersey seeks a vendor to provide comprehensive insurance brokerage services. The selected company will assist in the development of long-term insurance strategies and manage aspects of insurance programs for which the consultant is retained. Responsibilities include reviewing insurance policies and contracts to ensure adequate coverage, making recommendations, and assisting in the procurement of insurance coverage. This encompasses preparing required RFPs, analyzing proposals, establishing selection criteria, recommending markets, evaluating proposals, and participating in the selection process.

Additional duties involve identifying and analyzing operational risks, preparing specifications for quotations typically every three years or sooner, and providing loss control and safety review services as needed. The vendor will coordinate the appraisal of physical assets to determine proper insurable values and required terms. Ongoing responsibilities include continuous analysis of loss information, presenting findings to the board, reviewing contracts for insurance compliance, acting as liaison among the board, insurance carriers, brokers, providers, or claimants, and monitoring, reviewing, and presenting data to help manage claims on all current and future policies.