FW: RTA insurance renewal

[Stonehenge Property Management]

With this information I have budget finalized by Thursday.

David

 

From: Michael Cecchini [mailto:mcec...@toofer.com]
Sent: Monday, January 26, 2026 4:29 PM
To: Stonehenge Property Management
Subject: Riverside Terrace Association

 

Re: Master Insurance Renewal

 

Dear David:

 

Enclose you will find our renewal insurance proposal for Riverside Terrace Association, Inc. which is underwritten by Philadelphia Insurance Co. (Package), Greenwich Insurance Co. (Umbrella) and US. Liability Insurance Co. (D&O) effective 2/15/26.

 

RENEWAL PREMIUM

The following is a comparison between the expiring and renewal policy premiums:

 

Policy	Expiring	Renewal	Limit
Package	$42,960.00	$48,086.00	Extended Replacement Cost
Umbrella*	$4,552.00	$5,614.00	$15,000,000
D&O	$1,096.00	$1,096.00	$1,000,000
Total	$48,608.00	$54,796.00	12% overall increase

 

 

 

 

 

 

 

*We are currently marketing the umbrella policy. I will keep you updated on our progress and let you know if we receive a completive quote.

 

The current renewal has a building replacement value of $11,455,357 which represents $199.76 per square feet. This valuation is for rating purposes. Philadelphia’s policy is written on an Extended Replacement Cost basis.

 

CONDITIONS TO RENEW EXPIRING POLICIES

Enclosed you will find an Umbrella renewal application. Please review for accuracy, sign the highlighted areas and return as we cannot bind coverage without it.

 

PREMIUM PAYMENT

Enclosed you will find an invoice for the Umbrella renewal. Check must be made payable to Tooher Ferraris Insurance Group. The premium due date is 2/20/26. Please note that we accept online payments, it is quick and easy and there is no wait time when mailing a check.  Click the following link https://toofer.Appliedpay.com

 

Philadelphia will bill you directly for the deposit premium once the policy is bound. Please remit payment to Philadelphia.

 

OPTIONAL COVERAGES

We have reviewed your account and prepared the attached listing of optional coverages and/or increased limits or deductibles that you should consider for your program. If any of these changes are desired, please contact our office for a firm quotation.

 

RISK MANAGEMENT

It is important to have a risk management program in place. The maintenance standards are an excellent way to implement this program.

 

SUMMARY

I am confident that the program offered by Philadelphia Insurance Co. is competitive for the current market.

 

We appreciate your business and continued confidence.

 

Please contact me if you have any questions relative to this renewal proposal.

 

Sincerely,

​​​​ Michael Cecchini , CPIA Commercial Account Executive D: 203-665-6636 O: 203‑834‑5900 www.toofer.com mcec...@toofer.com 43 Danbury Rd ,  Wilton ,  CT ,  06897   845 Third Avenue ,  New York ,  NY ,  10017   CA Lic # OG29337   Download our Mobile App for Apple or Android to access your account, auto ID cards, and initiate service requests! ​ Please note: Our agency is not always notified in timely manner of notices of cancellations on your account. Please reference your installment schedule with the carrier to ensure that payments are made timely and are received prior to the due date to avoid cancellation.  You cannot use this system to bind, change or effect coverage. You must speak with a member of our staff personally.  Insureds must comply with all policy conditions, including exclusions and limitations. Failure to do so may result in the denial of a claim. Insureds have a responsibility to pay premiums timely, provide accurate information, notify the insurance carrier of any changes,  report claims promptly to the insurance carrier and mitigate damages. The information contained in this transmission is confidential and/or legally privileged. It is intended for the use of the individual or entity named above. If you are not the intended recipient, please be aware that any disclosure, copying, distribution or use of this information is strictly prohibited. If you have received this email transmission in error, please delete it from your system without copying or forwarding it and notify us by phone or return email.