New Jersey S2490 mandates competitive contracting for public insurance and consulting services, ensuring transparency and cost-effectiveness.

New Jersey S2490 requires boards of education and local contracting units to use a competitive contracting process for procuring insurance products and consulting services. This bill mandates that proposals be submitted at least 30 days before the contract start date, with at least three proposals obtained. It also requires insurers and consultants to certify that no commissions or other forms of compensation are paid or accepted. The bill includes provisions for civil liability for violations, ensuring that any compensation paid in violation of the law can be recovered.

New Jersey S2490 mandates competitive contracting for public insurance and consulting services, ensuring transparency and cost-effectiveness.

New Jersey S2490 requires boards of education and local contracting units to use a competitive contracting process for procuring insurance products and consulting services. This bill mandates that proposals be submitted at least 30 days before the contract start date, with at least three proposals obtained. It also requires insurers and consultants to certify that no commissions or other forms of compensation are paid or accepted. The bill includes provisions for civil liability for violations, ensuring that any compensation paid in violation of the law can be recovered.