INSURANCERENEWED

New Jersey Institute of Technology Board of Trustees Public Session Meeting Agenda Packet 2026-06-11

NJIT Renews Insurance Policies with The Hartford Insurance Company

Not to exceed $1,485,000 (Preliminary—annual premium not to exceed $1,106,000 for workers’ compensation, $379,000 for automobile coverage)New Jersey Institute of TechnologyTHE HARTFORD INSURANCE COMPANYJune 11, 2026

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Description

The NJIT Board authorized the renewal of workers’ compensation, employer’s liability, and automobile insurance coverage with The Hartford Insurance Company, at a premium not to exceed $1,485,000 for the term ending July 1, 2027. The coverage ensures statutory compliance and risk protection for employees and vehicles.

Contract Details

Contract Amount

Not to exceed $1,485,000 (Preliminary—annual premium not to exceed $1,106,000 for workers’ compensation, $379,000 for automobile coverage)

Vendor

THE HARTFORD INSURANCE COMPANY

Agency

New Jersey Institute of Technology, NJ

Contract Type

INSURANCE

Document Date

June 11, 2026

Contract Term

Twelve-month period ending July 1, 2027

Renewal Date

2027-07-01

Renewal Info

Annual contract renewal—statutory requirement. Renewal premium negotiated, with authorization to bind coverage for a period through July 1, 2027.

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New Jersey Institute of Technology

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New Jersey Institute of Technology, NJ

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