3-Notice to Bidders - Broker Commercial Insurance Coverages.pdf

This is a Notice to Bidders issued by the New Jersey Housing and Mortgage Finance Agency for the procurement of a qualified insurance broker to secure and manage the Agency's commercial insurance coverages. The Agency seeks proposals from qualified brokers to provide comprehensive insurance coverage and related brokerage services through insurance companies authorized to conduct business in New Jersey. Sealed bids will be received electronically through the Agency's Procurement Portal at https://njhmfa.bonfirehub.com, with the bid opening scheduled for Wednesday, June 17, 2026 at 11:00 AM EDT. Bid documents are available on the Procurement Portal, and all submissions must be made electronically by the specified deadline; no bids will be accepted after the opening date and time.

The Agency requires that selected insurance carriers maintain a minimum Financial Strength Rating of A- and a minimum Financial Size Category of VIII per A.M. Best Company ratings. The procurement is open to small business enterprises (SBE), disabled veteran-owned businesses, minority-owned businesses (MBE), and women-owned businesses (WBE) both as prime contractors and subcontractors. Respondents must comply with N.J.S.A. 10:5-31 et seq. and N.J.A.C. 17:27-1 et seq. The Agency reserves the right to reject any and all bids submitted.