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RESOLUTION AUTHORIZING THE PURCHASE OF STOP LOSS INSURANCE COVERAGE FROM ONE80 INTERMEDIARIES FOR THE COUNTY OF PASSAIC FOR CALENDAR YEAR 2026, PURSUANT TO N.J.S.A. 40A:11-5(M)
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WHEREAS, the County of Passaic (hereafter “County”) is a body politic and corporate pursuant to N.J.S.A. 40:18-1 and vested with all rights contained therein; and
WHEREAS, pursuant to N.J.S.A. 40:20-1, the Board of County Commissioners of the County of Passaic (hereafter “Board”) is vested with managing the property, finances, and affairs of the County; and
WHEREAS, pursuant to N.J.S.A. 40A:11-5(m), any contract the amount of which exceeds the bid threshold may be negotiated and awarded by the Board without public advertising of bids and bidding thereof, if it is for insurance, including the purchase of insurance coverage and consultant services; and
WHEREAS, on March 26, 2024, the Board approved Resolution No. R-24-242, retaining Foundation Risk Partners, Corp. d/b/a Fairview Insurance Agency Associates (hereafter “Fairview”) for insurance consulting services, who serves as the insurance broker for the County; and
WHEREAS, Fairview solicited quotes from qualified insurance companies and is recommending that the County purchase stop loss insurance coverage from One80 Intermediaries for a premium amount of three million two hundred sixteen thousand eight hundred and fifty-six dollars ($3,216,856.00) for a one-year term, beginning January 1, 2026, and expiring December 31, 2026; and
WHEREAS, pursuant to N.J.S.A. 19:34-32, no insurance corporation or association doing business in this state shall, directly or indirectly, pay or use, or offer, consent or agree to pay or use, any money or property for or in aid of any political party, committee, organization or corporation, or for or in aid of any candidate for political office, or for nomination for such office, or for any political purpose whatsoever, or for the reimbursement or indemnification of any person for money or property so used; and
WHEREAS, pursuant to N.J.S.A. 52:32-60-1, et seq., One80 Intermediaries executed the Non-Involvement in Prohibited Activities in Russia or Belarus Certification, attached hereto and made part of this Resolution, certifying that it is not involved in prohibited activities in Russia and Belarus, and the County confirmed One80 Intermediaries is not identified on the Specially Designated Nationals and Blocked Persons list created by the Office of Foreign Assets Control; and
WHEREAS, funds are available in Account No. 6-01-20-120-001-213, or any other account that may be deemed appropriate by the Chief Financial Officer or his designee, and the availability of funds has been contingently certified by the Chief Financial Officer subject to sufficient funds being appropriated by the Board in the 2025 and/or subsequent years’ County budget(s), which is attached to and made part of this Resolution; and
WHEREAS, this matter was discussed at the October 16, 2025, meeting of the Insurance Commission and is being recommended to the Board for approval.
NOW, THEREFORE, LET IT BE RESOLVED pursuant to N.J.S.A. 40A:11-5(m), the Board of County Commissioners of the County of Passaic authorizes the purchase of stop loss insurance coverage from One80 Intermediaries for a premium amount of three million two hundred sixteen thousand eight hundred and fifty-six dollars ($3,216,856.00) for a one-year term, beginning January 1, 2026 and expiring December 31, 2026.
LET IT BE FURTHER RESOLVED, that the Clerk to the Board shall print, in the official newspaper, a brief notice stating the nature, duration, service, and amount of the contract to One80 Intermediaries, and maintain a copy of this Resolution on file and available for public inspection in the Office of the Clerk to the Board.
LET IT BE FURTHER RESOLVED that the Clerk to the Board, Chief Financial Officer, County Administrator, and County Counsel are authorized to take any steps necessary to carry out the purpose of this Resolution, including executing a contract with One80 Intermediaries.
NB November 18, 2024