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Awarded contract·Closter Public Schools·New Jersey

Notice of Award – Broker of Record for Medical and Dental Insurance

Won by Brown and Brown Benefit Advisors$750kAwarded 6/11/2026Single Award
Contract source

Awarded vendors

  • Brown and Brown Benefit Advisors

Description

Closter Public Schools selected Brown and Brown Benefit Advisors to serve as the district’s broker of record for its employee medical and dental benefit programs. The broker will act as the primary liaison with insurance carriers, handle enrollment, and provide ongoing advisory services, receiving compensation solely through carrier‑paid commissions rather than direct fees from the district. This arrangement was the result of a competitive RFP process and provides the school district with a renewable, commission‑based brokerage relationship for up to five years. • Scope: Primary brokerage services for group medical and dental plans, including carrier liaison, enrollment assistance, and benefit administration. • Compensation: No direct cost to the district; revenue generated from commissions paid by insurers. • Term: Effective July 1 2026 with annual renewals possible through July 1 2031 (five‑year ceiling).

Attached files

Key dates

Intent to award
6/11/2026
Awarded
6/11/2026
Starts
7/1/2026
Ends
7/1/2031Renews
Duration
5 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Insurance
NAICS
524210

Contract value

$750,000

The notice states that the broker receives no direct fees from the school district, with compensation derived from carrier‑paid commissions. Typical commissions for group health and dental brokerage range from 2%‑5% of the total premium. Assuming a mid‑size public‑school district pays roughly $5‑$7 million annually in combined medical and dental premiums, a 3% commission would generate about $150,000–$210,000 per year for the broker. Over a five‑year horizon (maximum term), the cumulative revenue would be approximately $750,000–$1,050,000. Given the lack of exact premium figures, a conservative midpoint estimate of $750,000 total contract value is reasonable.

AI estimate from the award documents

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