Title
Dept/ Agency: Administration/Office of the Business Administrator
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Exception to Public Bidding for Health Insurance Brokerage Services
Purpose: To provide Health Insurance Brokerage Services for Prescription and Dental - Active and Retiree Population.
Entity Name: Alamo Insurance Group, Inc.
Entity Address: 53 Flanagan Way, Secaucus, New Jersey 07094
Contract Amount: Not to exceed $150,000.00
Funding Source: 2023 Budget/Office of the Business Administrator/NW011-200-2001-A-60210-B2023
Contract Period: September 1, 2023 through August 31, 2024 with two (2) one (1) year options to extend the contract not to exceed three (3) years in aggregate
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
() Fair & Open (X) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
Exception to Public Bidding: N.J.S.A. 40A:11-5(m) Insurance, which includes brokerage services.
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WHEREAS, the City of Newark ("City") is in need of Insurance Consultant/Broker Services for various employee Benefits, including more specifically, active and retiree prescription and dental benefits; and
WHEREAS, New Jersey Local Public Contract Law authorizes exception to public bidding in compliance with New Jersey Local Public Contracts Law, N.J.S.A. 40A:11-5 (m) Insurance, which includes brokerage services; and
WHEREAS, Alamo Insurance Group, Inc., has submitted a proposal to provide health insurance consulting/brokerage services for prescription and dental for a fee of One Hundred Fifty Thousand Dollars and Zero Cents ($150,000.00) per year; and
WHEREAS, the City wishes to enter into a contract with Alamo Insurance Group, Inc., 53 Flanagan Way, Secaucus, New Jersey 07094 to provide health insurance consulting/brokerage services for the City for pre...
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