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  5. ›RFP: Broker of Record – Medical and Dental

Closter Public Schools·New Jersey

RFP: Broker of Record – Medical and Dental

Closes 5/20/2026$50k – $200kRequest for Proposal
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Description

Closter Public Schools is seeking a qualified insurance broker to serve as the “Broker of Record” for the district’s medical and dental employee benefit programs. The broker will advise on plan design, manage renewal and bid processes, provide ongoing support to employees and retirees, and ensure timely issuance of policies and records. The contract starts July 1 2026, runs for up to five years with annual renewals, and requires the broker to maintain professional liability and errors‑and‑omissions insurance, disclose all commission arrangements, and submit extensive compliance documentation.

Attached files

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Contact

Floro M. Villanueva Jr.(School Business Administrator / Board Secretary)

(201) 768-3001

Key dates

Opened
5/26/2026
Closes
5/20/2026
Duration
5 years

Last updated

Details

Type
Request for Proposal
Industry
Insurance
NAICS
524210

Budget estimate

$50,000 – $200,000

Because the contract is commission‑based and the district’s payroll size is typical for a small New Jersey school district, annual broker commissions are likely to range between 2%–5% of the total premium. Assuming combined medical and dental premiums of $5‑10 million per year, the broker’s earnings would fall roughly between $100,000 and $500,000 over the five‑year term. A conservative estimate places the budget between $50,000 and $200,000 per year, giving a total contract value of $250,000‑$1,000,000.

AI estimate from the solicitation

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