New Jersey S3333 mandates competitive contracting for public insurance and consulting services.
New Jersey S3333 requires boards of education and local contracting units to use a competitive contracting process for procuring insurance products and consulting services. This process includes publishing notices in newspapers and on websites, submitting proposals, and obtaining at least three proposals. Insurance consultants must be compensated directly by the contracting unit, not by insurers, and must disclose past compensation from insurers. Insurers must certify that they do not pay consultants for services related to awarded contracts.
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