55-18 Exhibit to Resolution Authorizing Professional Services Agreement with Fairview Insurance for Insurance Broker - 2018.pdf

AGREEMENT FOR SERVICES AS BROKER OF RECORD THIS AGREEMENT made and entered into on this ia day of January, 2018 by and between the TOWNSHIP OF WEST ORANGE, a municipal corporation of the State of New Jersey, located at Town Hall, 66 Main Street, West Orange, County of Essex and State of New Jersey, hereinafter called the “TOWNSHIP”, party of the first part, and FAIRVIEW INSURANCE AGENCY ASSOCIATES, INC., located at 25 Fairview Avenue, Verona, County of Essex and State of New Jersey, hereinafter referred to as “BROKER,” Party of the second part. WITNESSETH THAT: WHEREAS, the Governing Body of the TOWNSHIP has determined that it is in the best interests of the TOWNSHIP to retain the services of BROKER to provide services as the Township’s broker of record with respect to all risk management and insurance coverage; NOW, THEREFORE, in consideration of the mutual promises, terms and conditions hereinafter set forth, the parties hereto agree as follows: 1. The TOWNSHIP hereby retains the services of BROKER for the period January 1, 2018 through December 31, 2018. 2. BROKER will in all instances be paid in the form a negotiated broker fee from the Third Party Administrator or the insurance carrier, and will never be paid directly by the TOWNSHIP. 3. BROKER will not impose any additional consulting fees or charges upon the TOWNSHIP. 4. BROKER will in all instances accept the negotiated broker fee paid from the Third Party Administrator or the insurance carrier as payment in full. 5. BROKER shall be responsible for brokering self-insured medical coverage through the Third Party Administrator. 6. BROKER shall be responsible for brokering dental and prescription drug coverage through an insurance carrier