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Home My Public Portal Aboutr 08:051 ( , (I-\.C7.'r.llw.nun U.\. llfc (!!'lu:ruugIf .lIl. l.Uan.cr.er1 (IN ~ JJ ~ No. 08-51 Date of Adoption Januarv 24. 2008 RISK MANAGEMENT CONSULTANT'S AGREEMENT THIS AGREEMENT entered into this _ day of January, 2008, between the BOROUGH OF CARTERET (hereinafter refelTed to as BOROUGH) AND G RMURRAY (hereinafterrefeITed to as the CONSULTANT). WHEREAS, the CONSULTANT has offered to the BOROUGH professional risk management consulting services as required in the bylaws of the Middlesex County Municipal Joint Insurance Fund; \VHEREAS, the BOROUGH desires these professional services pursuant to the resolution adopted by the governing body of the BOROUGH at a meeting held January 24,2008; and NO\V, THEREFORE, the parties in consideration of the mutual promises and covenants set foIth herein, agree as fC!l1ows: I) For and in consideration ofthe amount stated hereinafter, the CONSULTANT shall: a) Assist the BOROUGH in identifying its insurable Property & Casualty exposures and to recommend professional methods to reduce, assume or transfer the risk or loss. b) Assist the BOROUGH in understanding the various coverages available from the Middlesex County Joint Insurance Fund, c) Review with the BOROUGH may additional coverages that the CONSULTANT feels should be callied but are not available from the FUND and subject to the BOROUGH'S authorization, place such coverages outside the FUND. d) Assist the BOROUGH in the preparation of applications, statements of values, and similar documents requested by the FUND. it being understood that this Agreement does not include any appraisal work by the CONSULANT. e) Review Certificates of Insurance from contractors, vendors and professiopals when requested by the BOROUGH. f) Review the BOROUGH'S assessment as prepared by the FUND and assist the BOROUGH in the preparation of its annual insurance budget. g) Review the loss reports and generally assist the Safety Committee in its loss contaipment objectives, h) Assist where needed in the settlement of claims, with the understanding that the scope of the CONSULTANT'S involvement does not include the work normally done by a public adjuster. i) Perform any.other risk management related services required by the FUND'S bylaws. NO. 08-51 PAGE 2 2) In exchange for the above services, the CONSULTANT shall be compensated in the following rnaIlller: a) The CONSULTANT shall be paid by the BOROUGH a fee as compensation for services rendered, an arilount equal to 6% of the BOROUGH'S annual assessment as promulgated by the FUND. Said fee shall be paid to the CONSULTANT within thitty (30) days of payment of the BOROUGH'S assessment. (Said fee is included in the BOROUGH'S assessment) b) For any insurance coverages authorized by the BOROUGH to be placed outside the FUND, the CONSULTANT shall receive' as compensation the nonnal brokerage commissions paid by the insurance company. The premiums for said policies shall not be added to the FUND'S assessment in computing the fee outlined in 2(a). 3) This Agreement shall remain in force until superseded by the governing body of the BOROUGH. However, this Agreement may be tenninated by either party at any time by mailing to the other written notice, certified mail return receipt, calling for termination at not less than thhty (30) days thereafter. In the event of termination of this Agreement, the CONSULTANT'S fees outlined in 2(a) above shall be prorated to date of termination. ATTEST: BOROUGH: ATTEST:. CONSULTANT: GRMURRAY Adopted this 24th dayofJanuary, 2008 and certified as a true copy of the original on January 25, 2008. KATHLEEN M. BARNEY, MMC Municipal Clerk RECORD OF COUNCIL VOTE \ COUNCILMAN YES NO NY A.B. COUNCILJ\'lAN YES NO NV A.B. jlELUNO X . '''~'''LES X DIAZ X lllU';r X tIl"UM . X SITARZ X X-Indicate Vote AB-Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto Adopted at a meeting of the Municipal Council Janu",y 2!i, 2008 , / -:; /f r;;l;. ( /? Cl '5( .~ './(/ !' Jan,10, 2008 10:20AM BOROUGH OF CARTERET No, 5796 p, 1 t;~ ,\.5 A, \\l'J ,-I ." ~ ,b\) ~{""\... GR, MURRAY D1VISlONOF O'GORMAN & YOUNG ESTABLISHED IN ~ January 7,2008 Patrick DeBlasio Borough Administrator Borough of Carteret 20 Cooke Avenue Carteret, NJ 07008 Re: Risk Management Consultant's Agreement Dear Patrick; Enclosed please find a Risk Management Consultant's Agreement that is required by the Middlesex Joint Insurance Fund. Please complete the highlighted sections, sign the second page where indicated and retum the original to my attention. Please give me a call with any questions. Sincerely yours, G, R. MURRAY INSURANCE V\,~~ bYVQ.CVt c:V---- Victoria Sjulander, CISR 159 MAIN STMH . P.O. BOX 960 CHATHAM, Nl\'iI JlRSlY 07928 PHONl973,635.t800' FAX 973.635,7744 www.ocy-cnMlIRRAy.COM $?-{}J fM.-i- CL'I: ~ ~ /)~ 707 $T A TE ROAD' P.O, BOX 83 PRINCETON, NEW JERSEY 08542 PHONE 609.924,5000 . FAX 609.924.8487 Jan. 10. 2008 10:20AM BOROUGH OF CARTERET No. 5796 P. 2 RISK MANAGEMENT CONSULTANT'S AGREEMENT THIS AGREEMENT entered into this day of January, 2008, between the BOROUGH of CARTEREi (hereinafter referred to as BOROUGH) and G R MURRAY (hereinafter referred to as the CONSULTANT). WHEREAS, the CONSULrANT has offered to the BOROUGH professional risk management consulting services as required in the bylaws of the Middlesex County Municipal Joint Insurance Fund; and WHEREAS, the BOROUGH desires these professional services pursuant to the resolution adopted by the governing body of the BOROUGH at a meeting held ; and NOW, THEREFORE, the parties in consideration of the mutual promises and covenants set forth herein, agree as follows: 1) For and in consideration of the amount stated hereinafter, the CONSULTANT shall: a) Assist the BOROUGH in identifying its insurable Property tt Casualty exposures and to recommend professional methods to reduce, assume or transfer the risk or ~D. . b) Assist the BOROUGH in understanding the various coverages available from the Middlesex County Municipal JOHlt Insurance Fund. c) Review with the BOROUGH any additional coverages that the CONSULTANT feels should be carried but are not available from the FUND and subject to the BOROUGH'S authorization, place such coverages outside the FUND. d) Assist the BOROUGH in the preparation of applications, statements of values, and similar documents requested by the FUND, it being understood that this Agreement does not include any appraisal work by the CONSULTANi, e) Review Certificates of Insurance from contractors, vendors and professionals when requested by the BOROUGH, f) Review the BOROUGH'S assessment as prepared by the FUND and assist the BOROUGH in the preparation of its annual insurance budget. g) Review the loss reports and generally assist the Safety Committee in its loss containment objectives. h) Assist where needed in the settlement of claims, with the understanding that the scope of the CONSUL TANi's involvement does not include the work normally done by a public adjuster, i) Perform any other risk management related services required by the FUND's bylaws. Jan. 10. 2008 10:20AM BOROUGH OF CARTERET No. 5796 P. 3 2) In exchange for the above services, the CONSULTANT shall be compensated in the following manner; . *' a) The CONSULTANT shall be paid by the BOROUGH a fee as compensation for {:n f services rendered, an amount equal to (.<-0 tJ] 0 of the Ptl}'!, BOROUGH's annual assessment as promulgated by the FUND. Said fee shall be paid to the CONSULTANT within thirty (30) days of payment of the BOROUGH's assessment. (Said fee is included in the BOROUGH's assessment) LJ) b) For any Insurance coverages authorized by the BOROUGH to be placed outside the FUND, the CONSULTANT shall receive as compensation the normal brol<erage commissions paid by the insurance company. The premiums for said policies shall not be added to the FUND's assessment in computing the fee outlined in 2(a). 3) This Agreement shall remain in force until superseded by the governing body of the BOROUGH. However, this Agreement may be terminated by either party at any time by mailing to the other written notice, certified mail return receipt, calling for termination at not less than thirty (30) days thereafter. In the event of termination of this Agreement, the CONSULTANT's fees outlined in 2(a) above shall be prorated to date of termination. ATTEST: BOROUGH: ATTEST: CONSULTANT: VLr }kl1..t~aL- .6(IA_ O--I'~ ~(~ y~d- G R MURRAY Dlfer.;fo& frJAC.tc. r;.vrH-Y ~ IVIVOA..) '.