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TMO Case Study: Taverner and Peckett Square

Finding an insurance broker who understands what a tenant management organisation (TMO) is and is able to give detailed insurance advice is the holy grail for TMO estate managers such as Michelle Carr. We spoke to her to find out more about how One Broker took the challenge in their stride, ensuring that Taverner and Peckett Square TMO has the insurance protection it needs. 

The challenge of running a TMO

Heading up a TMO is rewarding but also presents a challenge to those in charge. “You have to be everything to everyone!” laughs Michelle Carr, TMO Estate Manager for Taverner and Peckett Square in Islington. “You have to wear a lot of different hats and do lots of different things – I’m always very busy!”

At Taverner and Peckett Square, which consists of 164 properties, the TMO is responsible for covering duties such as cleaning and general caretaking, site maintenance and carrying out repairs to properties and communal areas. The Management Committee also makes small improvements that will benefit all residents, mainly in communal areas. 

This is a huge amount of work considering that there are just two members of full-time staff, with a much-needed part-timer soon to join the ranks. With few hands on deck and a long list of tasks, organisation is key. “It really is very busy,” admits Michelle, “which is why it is really important to learn to manage your time.”

Finding the right insurance is another crucial task of estate managers like Michelle, which presents challenges of its own.

Read more: TMO case study: Clarence Way

How did One Broker help?

With such unique requirements, deciding what insurance is needed to cover all the activities and workers within a TMO is a minefield. 

“A significant challenge is finding an insurer who understands what a TMO actually is,” explains Michelle. “When filling out forms online, most insurers have us down as housing associations, but that isn’t what we are. This has meant we ended up with insurance that wasn’t quite the right fit for us for a long time. It made me worry that something would happen and we wouldn’t be covered for it.” 

Understanding their predicament, another TMO based in Islington referred them to One Broker’s Phil Smith. He has extensive knowledge of TMOs, having spent several years getting to know their insurance needs. He soon got in touch with Michelle and gave her the reassurance of speaking to an experienced broker who knew exactly what insurance was needed and was able to explain the details in plain English.

Using his knowledge of both the insurance market and TMOs, Phil found cover that was a perfect match for Taverner and Peckett. Rather than dishing out a ‘one-size-fits-all’ policy, Phil provided multiple insurance policies that were each specifically tailored to the needs of Taverner and Peckett TMO. 

“We are now covered for everything!” enthuses Michelle, whose cover now includes Public Liability Insurance, Fidelity coverage and Cyber Insurance. The latter was not even something Michelle had previously considered, but Phil was able to clearly outline the risks of cyber insecurity and how the insurance could provide some much-needed protection. 

In particular, Michelle found that a Management Liability package organised by Phil has been worth its weight in gold. The package includes access to a free legal service that helps clients to manage legal situations as well as provide education and guidance on how they can be avoided in the first instance. Michelle relied on this service to get guidance on an employee who was on long-term sick leave, and again when there were issues surrounding paid holiday. The helpline was also consulted when she had questions on the participation in training courses during work hours. 

With the security of having the right insurance in place, Michelle couldn’t be happier. “I would 100% recommend One Broker to another TMO. You get the right cover and Phil always answers the phone and gets right back to you – I don’t even have to bother leaving a message. It’s nice that you get a person and not someone in a call centre who knows nothing about you.”

Need insurance for your TMO?

If you would like to discuss the insurance needs of your own TMO, you can get in touch with Phil Smith on 01223 949006.

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