Risk Manager / Insurance Broker

2026-11-03

Risk Management Services / Insurance Broker The Borough of Watchung desires to appoint a Risk Management Consultant who will be responsible for assisting the Borough in identifying its insurable exposures and to recommend professional methods to reduce , assume or transfer the risk loss . The Consultant shall review with the Borough any additional coverage ’ s that the Consultant feels should be carried but are not available from the Fund and subject to the Borough ’ s authorization place such coverage ’ s outside the fund . The Consultant shall assist the Borough in the preparation of applications , statements of values and similar documents requested by the Fund , it being understood that this agreement does not include any appraisal work by the Consultant . The Consultant shall review the Borough ’ s assessment as prepared by the Fund and assist the Borough in the preparation of its annual insurance budget . 1 . Appointment of Risk Management Consultant . The Risk Management Consultant shall be appointed by the Borough Council ( hereinafter “ Council ”) by a majority vote of a quorum of its members and shall serve for a term of one ( 1 ) year from the first day of January of the year of their appointment and until a successor has been appointed and qualified . The Risk Management Consultant shall be a New Jersey licensed property / casualty insurance agent or broker with demonstrated prior experience in the management of public insurance risks . The Risk Management Consultant shall be an “ Insurance Producer ”, pursuant to N . J . S . A . 17 : 22 - A , but shall not be a Fund Commissioner . 2 . Duties . The Risk Management Consultant ( hereinafter the “ Consultant ”) shall : A . The Consultant shall assist the Borough in identifying its insurable the exposures and to recommend professional methods to reduce , assume or transfer risk loss . B . Assist the Borough in understanding and selecting the various coverages available from the Suburban Municipal Joint Insurance Fund . C . Review with the Borough any additional coverages that the Consultant feels should be carried but are not available from the Fund and subject to the Borough ’ s authorization place such coverages outside the fund . D . Assist the Borough in the preparation of applications , statements of values and similar documents requested by the Fund , it being understood that this agreement does not include any appraisal work by the Consultant . E . Review the Borough ’ s assessment as prepared by the Fund and assist the Borough in the preparation of its annual insurance budget . F . Review the loss and engineering reports and generally assist the afety committee in its loss containment objectives . G . Assist where needed in the settlement of claims , with the understanding that the scope of the Consultant ’ s involvement does not include the work normally done by a public adjustor .

New Jersey

2026-04-29