Internal auditor – insurance review

The New Jersey Municipal Excess Liability Joint Insurance Fund (NJMEL) is soliciting proposals through a Competitive Contracting Request for Proposals (CCRFP) for an Internal Auditor to conduct comprehensive insurance operations and coverage reviews. The selected firm will be responsible for assessing underwriting practices, policy documentation, risk financing structures, and compliance with statutes and regulations governing joint insurance funds for the 2026-2028 period. Proposals must be submitted electronically via the BidNet Direct portal by November 12, 2025, at 10:00 A.M., with an evaluation process that allocates 50 total points across technical criteria (25 points), managerial criteria (15 points), and cost criteria (10 points). Key evaluation components will include staff qualifications, project management capabilities, references, and demonstrated understanding of New Jersey governmental and joint insurance fund operations. Proposers must provide detailed qualifications, fee proposals for 2026 with options for 2027-2028, and comprehensive documentation demonstrating expertise in internal auditing for joint insurance funds.

While no specific set-aside designations for disadvantaged enterprises are mentioned in the documentation, the procurement requires vendors to meet stringent cybersecurity requirements as part of their proposal. These requirements include implementing multi-factor authentication, data encryption, secure backups, and conducting annual cyber hygiene training, with mandatory cyber liability insurance coverage of $1,000,000 per claim. The contract will be awarded through a fair and open public solicitation process, with no indication of incumbent vendors or existing technological infrastructure that requires integration. Although a specific budget range is not explicitly stated, the proposal process includes a cost criteria component worth 10 points, suggesting that pricing will be a factor in vendor selection. The procurement is specific to Morris County, New Jersey, and targets firms with specialized experience in internal auditing for joint insurance funds, emphasizing the technical and operational complexity of the required services.