RM-169620 Third Party Admin for Liability Insurances

The New Jersey Turnpike Authority is seeking a qualified third‑party administrator to manage all liability‑related claims (general liability, automobile, police professional, and employment liability) and to provide expert support for its internal claims‑management system. The consultant will be responsible for claim intake, investigation, reserve setting, adjustment, settlement authority up to $7,500, coordination with outside counsel, and detailed monthly reporting. The contract is a three‑year initial term with two optional one‑year extensions, and requires the consultant to fund two separate interest‑bearing claim‑fund accounts and maintain extensive insurance coverage. • Administer ~200 claims per year for both Turnpike and Parkway, including high‑volume property‑damage claims. • Provide monthly loss‑run, settlement, and litigation reports; maintain “read‑only” electronic access for the Authority. • Must post $100,000 (or mutually agreed amount) into each claim‑fund account at contract start and retain required insurance (CGL, auto, crime, professional liability, cyber).