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A Property Management Regulatory Failure in SW15
An analysis of the events at Garden Royal from 2020

Notes on the Parties involved with the Insurance

Research was carried out in early 2026 referring to:

  • Three Documents:
    • The Property Certificate [Certificate of Insurance] for the period commencing 11th August 2024. Click here to see it.
    • The Schedule [Certificate of Insurance] for the period commencing 11th August 2025. Click here to see it.
    • The receipt for payment for the period commencing 11th August 2025. Click here to see it.
  • Authorities etc:
    • Companies House,
    • Financial Conduct Authority,
    • The Managing General Agents Association.
  • Google Search and Google AI:

The arrangement of the insurance for the two years commencing 11th August 2024, and 11th August 2025, appears to have been made by and between the following parties:

  • The Board of Kersfield Maintenance Ltd [the Insured as freeholder of the Garden Royal Estate of 50 flats and 36 garages] under the direction of the Board.
  • The Property Management Agents, and Company Secretary viz:
    • For the period commencing 11th August 2024, Messrs Rendall & Rittner. 
      • Companies House: No: 02515428, SIC Code: 68320 - Management of real estate on a fee or contract basis.
      • FCA: Firm Number 308924. Authorised to arrange non-investment insurance contracts.
    • For the period commencing 11th August 2025, Messrs Grace Miller who took over on 1st April 2025. Note: Apart from there being two companies with similar names, these companys have multiple records at Companies House due to inconsistencies in their address's and names. Two registered companies are found as follows:
      • Companies House: No: 14766228. [GRACE MILLER LIMITED] SIC Code: 82190 - Photocopying, document preparation and other specialised office support activities.
      • Companies House: No: 07503515. [GRACE MILLER AND CO LIMITED] SIC Code: 68310 - Real estate agencies, and 68320 - Management of real estate on a fee or contract basis.
      • FCA [Grace Miller and Co Ltd]: Firm Number 544929. Authorised to arrange non-investment insurance contracts.
  • Apparently acting as broker, Insurety:
    • There are three names viz: Insurety, Insurety Protect [see TBIG below], and Insurety Ltd.
    • Companies House: [Insurety Ltd] No: 12087894. Incorporated on 5 July 2019. Robert Anthony MAYO answers mail as "CEO – Insurety Ltd". 
    • FCA: Firm Number 971455. Authorised to arrange non-investment insurance contracts.
    • Does NOT appear to belong to the Managing General Agents Association. But "Insurety Protect" does.
  • Mission Underwriting UK Limited
    • Companies House: No 05314336. Incorporated on 15 December 2004. Blair Houston was Secretary from June 2019 to May 2021. The accounts make interesting reading !
    • FCA: Firm Number 314946. Authorised to arrange non-investment insurance contracts.
    • Does NOT appear to belong to the Managing General Agents Association.
    • Who has traded as Ventis [Ventis Specialty Limited ?]
      • Companies House: No: 15121652. SIC Code 66220 - Activities of insurance agents and brokers.
      • FCA: Firm Number: 1010824. Appointed Representative [of Mission Underwriting UK Limited]
      • Which belonged to the Managing General Agents Association 
  • TBIG Residential Limited, also known as Insurety Protect
    • Google AI suggests that TBIG stands for "The Brokers Investment Group"
    • Companies House: No: 14080337. SIC Code: 64209 - Activities of other holding companies not elsewhere classified.
    • FCA: Firm Number: 995356. FCA state that this firm is an 'Appointed Representative' (AR) for Insurety Limited - see above.
      • It also trades as "Insurety Protect". See above.
    • Does NOT appear to belong to the Managing General Agents Association.
    • Function: This entity appears to handle the brokerage monies paid by Kersfield Maintenance Ltd. The policy number is "Policy No. TBIG / Ventis - 3245".
  • Acting as Insurer or Underwriter: "Accelerant Insurance"

The parties and their contractual relationships are to the average person muddled to say the least, and their continually changing inter-relationship is unclear.

It is fair to say that the whole mess of Insurety, Mission Underwriting, TBIG and Accelerant seems to have been carefully designed . . . for what purpose is unclear. The author is confused to say the least.

One fact remains: the Garden Royal Estate is probably uninsured . . . 

There are two relevant diagrams which show:

  • The contractual relationships affecting lessees, and
  • The way in which a Managing General Agent operates.

In August 2011, Allianz the then property insurer pulled the plug. The cause was identified as:

  • A false declaration failing to identify the cladding erected in 2017.
  • The blame for this was laid at the door of Ms Varszegi, the person in charge of managing Garden Royal on behalf of J C F Property Management.
  • It is probable that she was acting on the instructions of the Board who had contrived to have the cladding erected.
  • Ms Varszegi was censured by the IRPM's disciplinary committee then under the direction of Amanda Gourlay of Tanfield Chambers. 

The cause of the current situation of the estate being uninsured is difficult to ascertain. The Managing General Agents Association, initially apparently helpful, changed. The responses received from the broker [Insurety] appear to demonstrate a close relationship with the Board, in particular the blame for Allianz' departure being put on the the Broker Clear Insurance. This is irrelevant to the current situation, but does serve to indicate a close relationship.

It should be explicitly noted that Grace Miller have attempted to distance themselves from procuring the insurance. The terms of their appointment as property manager, which have they have refused to provide, are therefore critical to their liability. Their appointment as Company Secretary places a different burden on them to look after the interests of the Shareholders, even at the expense of the Directors.

The statement: "The Insurer is fully aware of the material facts regarding the construction methods used – these details are fully contained within the Statement of Fact which has been circulated with the responsible parties." indicates where the source of the error probably lies - with the Board and Robert Mayo of Insurety.

The Financial Conduct Authority was clear in that a complaint should be raised by email with Blair Houston, which was done, and at the second attempt was auto acknowledged.

The matter is now with the Financial Services Ombudsman, who helpfully completed their complaint form over the telephone - which at 78 is amazingly helpful.

The questions appear to be:

  • Is the estate insured in the light of the express statement made by Robert Mayo ?
  • Will "Accelerant" be able to get the Garden Royal Estate insured in the light of the 10% flammability clause, which calculations show is exceeded by a factor of between two and four.