Workers' Compensation

The Passaic Board of Education is seeking proposals from qualified insurance brokers to assess the viability of transitioning from a self-insured Workers' Compensation program to a first-dollar insurance program. The selected broker will be responsible for conducting a thorough analysis of the district's current program, evaluating the financial and operational implications of transitioning, and providing recommendations on the most suitable carriers and program structures. The broker will also be required to deliver regular updates and reports on progress, findings, and recommendations, and to maintain clear and transparent communication with district stakeholders throughout the engagement. Key considerations include the broker's experience working with districts or organizations of similar size and scope, their expertise in Workers' Compensation insurance and risk management strategies, and their ability to provide innovative and successful approaches to claims management and employee safety programs. Some of the key services that the broker will provide include: • Program Evaluation and Feasibility Assessment • Market Analysis and Recommendations • Broker Qualifications • Reporting and Communication The district will evaluate proposals based on relevant experience and qualifications, demonstrated understanding of the district's needs, quality and feasibility of the proposed approach, cost-effectiveness of the solution, and references and past performance.