Mr Cristian Coroiu

KRO DESIGN LTD

56 Alma Street
London
E15 1QA
Our Ref: 55978861
22nd October 2021

Dear Mr Coroiu,
Policy Type : Offices & Surgeries Package
Policy Number : BAG12733009032
Further to our conversation, we have pleasure in confirming cover is in place for your Offices &
Surgeries Package policy. Cover will run with effect from 25th October 2021 for a period of 12
months. A full price breakdown is stated below along with details of the payment options available.

Price Breakdown for your New Business Policy placed via Covéa Insurance Plc
(£)
Premium 181.82
Insurance Premium Tax 21.82
Broker Fee 100.00

Total (£) 303.64

1st Choice Insurance strives to provide you with the highest quality, independent expertise, advice and
service to ensure that you get value for money from your insurance arrangements. Our aim is to
ensure that you have peace of mind with the right cover provided by an insurer that has the ability and
desire to pay your claims quickly and efficiently..

What is Enclosed & Why?

• Statement of Demands & Needs and Recommendation Table
This includes details of cover, limits and exclusions and explains why we have made our
recommendation;
• Payment Option Schedule
This shows the different methods of payment available to you, if not already agreed, including
spreading the cost of your insurance over a period of months;
• Terms of Business
Please read this carefully. It sets out the terms on which we agree to act for our clients and
contains details of our regulatory and statutory responsibility;
• Insurance Product Information Document & Policy Summary
This has been prepared by the insurer and gives a summary of the cover they are providing;
• Proposal Form or Statement of Fact
This is for you to complete and return to us (if requested).

What do I do now?
Please read all of the information carefully and tell us if any of the information is incorrect. Please refer
to section 4 'Commercial Customers Duty of Disclosure’ in our terms of business agreement.

What we need back from you

• Proposal Form / Statement of Fact. Please check and advise us if any amendments are required.
If no signature is required then please keep for your records;
• Confirm (if not already) your preferred method of payment. See the Payment Option Schedule
further below;
• Our Administration team will be in contact shortly with regards to any documentation
required back for this insurance policy. The documents we request are part of the due
diligence checks we must complete as your Broker and at the request of the Insurer. In the
meantime, if you have any queries please do not hesitate to email the team at
[email protected]

Any Questions?
We trust that you will find this to your satisfaction, however please do not hesitate to contact us if you
have any queries or concerns regarding this or any other aspect of your insurances, or if you simply
require further information.
May we take this opportunity to advise you that 1st Choice Insurance are able to offer a range of
insurance products and services, including all consumer and commercial insurances. If you have any
other insurance requirements that we may be able to meet, please contact us to discuss further.

Yours sincerely,
Thomas Evans
New Business Executive
01743 770505
[email protected]

2
Statement of Demands & Needs - Important Information

Client Name : KRO DESIGN LTD Our Ref : 55978861

Important: Our recommendation is based upon the information provided to us by you and is shown in
the Demands & Needs Statement below. You must take reasonable care to ensure that the
information shown is correct and a true reflection of the accurate and honest answers you have given
to the questions we have asked you.
Your Requirements
Based on our knowledge, your stated main requirements which we have included in our
recommendation to you are as follows:

Policy Requirements

Packaged Offices and Surgeries A package policy that provides insurance for your office property, income and liabilities.

Any requirements which we have not been able to meet are as follows:

Policy Covers requested by you but not provided by this quotation

Packaged Offices and Surgeries None

Any recommendations which we have made that you have chosen not to proceed with are as follows:

Policy Covers discussed but not taken up

Packaged Offices and Surgeries None

3
Personal Recommendation and Market Selection
We have assessed your demands and needs based on the information provided to us by you and our
recommendations are summarised below.

Policy Recommendations and Market Selection

Packaged Offices and Surgeries This insurer is able to provide the full range of covers requested.

Where there is an underlying insurer stated below, the policy is underwritten by that insurer(s). Please
note that the liability of the underlying insurer(s) listed below in respect of losses under this policy is
individually limited to the percentage set against their name and for no other amounts:

Policy Type Placed via Underlying Insurer Underlying Insurer

Exposure

Packaged Offices and Covéa Insurance Plc N/A N/A

Surgeries

In assessing your demands and needs we approach a panel of insurers for a quotation. If you would
like full details of all the providers we have approached please let us know as we will be happy to
provide you with this information.

4
Offices & Surgeries Package - Packaged Offices and
Surgeries
POLICYHOLDER KRO DESIGN LTD

INSURER Covéa Insurance Plc

POLICY NUMBER BAG12733009032

PERIOD OF INSURANCE 25/10/2021 to 24/10/2022

BUSINESS DESCRIPTION construction

Material Damage
Cover
Loss of or damage to the insured property arising out of the Insured Risks as defined below.

Premises: Office 17, City View House, 1 Dorset Place, London, E15
1BZ
Insured Risks
Accidental Damage
Standard Fire & Specified Perils
Buildings
Other Covers
Description Sum Insured (£)

Shop Front 10,000

Excesses
Excess (£): 250

Contents
Description Sum Insured (£)

Unspecified Contents 2,500

Specified Items
Description Sum Insured (£)

Airline Tickets and Travellers Cheques 5,000

Excesses

5
Excess (£): 250

Excess
[E15 1BZ] Building Excess - £250.00
[E15 1BZ] Contents - Commercial Excess - £250.00

Business Interruption
Cover
Loss resulting from an interruption to the business following loss of or damage to the insured property
arising out of the Insured Risks as defined below.
Insured Risks
Accidental Damage
Standard Fire & Specified Perils
Sums Insured/Limits of Indemnity
Cover Basis: Gross Revenue/Income
Indemnity Period (months): 12
Sum Insured (£): 300,000

Description Limit of Indemnity (£)

Book Debts cover 50,000

Money
Cover
Loss of money in the following circumstances :-
Sums Insured/Limits of Indemnity
Description Sum Insured (£)

Money During Hours 5,000

Money in Bank Night Safe 5,000

Loss of money from a locked safe outside of business hours 3,500

Money in transit 5,000

Loss of money not in a locked safe outside of business hours 500

Excess

6
[E15 1BZ] Money Excess

Computer
Cover
Fixed and portable computers and other equipment.
Sums Insured/Limits of Indemnity
Sum Insured (£): 5,000,000

Goods in Transit
Cover
Loss of or damage to property in transit to destinations within the Territorial Limits whilst carried by any
method of conveyance agreed with insurers.
Sums Insured
Own vehicles sum insured 25,000
(£):

Liabilities
Employers Liability
Cover
Legal liability arising from illness, disease or injury to employees.
Limits of Indemnity
Limit of Indemnity: £10,000,000

Please note that a copy of the Certificate of Employers' Liability Insurance should be displayed
at each place of business where you employ persons covered by this policy. It is however
satisfactory to make the certificate available in electronic form, providing that it is reasonably
accessible to relevant employees to whom it relates. We also recommend that you retain this
certificate after it has expired as under current legislation, if no insurance records can be
found at the time of any future claim, an employer could be held responsible for payment of all
or part of the claim.
Public and Products Liability
Cover
Liability arising from damage to the property of or injury to a member of the public.
Limits of Indemnity
Limit of Indemnity: £5,000,000
Excess

7
Public Liability Excess

8
General Clauses/Information
Endorsements
CO0007 - Hazardous Locations

9
Payment Option
Options Description

Please return your cheque to our offices made payable to BBPS LTD RE FIRST
Pay by Cheque
CHOICE NST CLIENT MONEY

Pay By Credit / Debit Card Contact us on: 0300 600 0600.

See loan facility below. Loan is provided by Close Brothers Premium

Finance or Premium Credit Limited. . Please be aware that you assign all
rights, title and interest to any policy financed through the above arrangement to
Pay By Third Party Loan
Close Brothers Premium Finance or Premium Credit Limited. , along with
any sums payable to you by virtue of that policy.

Contact us on: 0300 600 0600

Pay By Insurer Direct Debit Please see Direct Debit details attached (if applicable)

0300 600 0600

Contact us on
01743 770500

Pay By Bank Transfer Bank Name Barclays Bank

Sort Code 20-67-59

Account Number 13055310

Please quote our reference 55978861 in all correspondence with us.

10
Terms of Business Agreement - Commercial Customers

1st Choice Insurance

Please read this document carefully. It sets out the terms and conditions on which we agree to act for you, contains details of our responsibilities
together with your responsibilities both to us, to insurers and to other third-party providers. Please contact us immediately if there is anything in this
document that you do not understand/or with which you disagree.
In the interests of security, staff training and to generally improve our service please be aware that telephone calls may be monitored and/or
recorded.
1. Our Service
1.1. 1st Choice Insurance is an independent insurance intermediary; authorised and regulated by the Financial Conduct Authority (FCA). Our
Financial Services Register number is 709115. These details can be checked on the Financial Services Register by visiting the FCA's
website https://register.fca.org.uk/ or by contacting the FCA on 0300 500 8082.
1.2. We are permitted to arrange, advise on, deal as an agent of insurers, help with ongoing changes, introduce to an insurer/finance
provider(s) and arrange lending facilities and collect debt in respect of general insurance policies on behalf of our clients.
1.3 We will advise you and will make a personal recommendation after we have assessed your insurance needs. This will include the type
of cover you require together with the costs involved. We undertake to explain the main features of the products and services that we
offer to you as well as the basis on which we have provided information and/or advice.
1.4 Upon receipt of your instructions we will place, amend or renew insurance cover on your behalf with insurers. We will advise you of any
inability to place your insurance.
1.5 You are not to rely on any insurance policy you have instructed us to place on cover until we have confirmed in writing to you that the
insurer has agreed to such insurance cover being in place. Please note that you must comply with the terms and conditions of the
insurance policy you purchase, including any matters where the insurer makes cover subject to your compliance with conditions or with
express or implied warranties. Failure to comply may entitle the insurer to cancel your insurance contract and/or risks a claim you make
not being paid in part or in full.
1.6 We have access to leading insurers and often we select your insurance product from a wide range of insurers, however there are times
when we use a select panel of insurers/finance providers. Please ask us if you would like a list of these insurers. At our discretion, we
offer clients the options to pay by instalments through Close Brothers Finance or Premium Credit. In certain circumstances we may use
the services of another intermediary to place your insurance and in these circumstances we will always advise you of the name of that
intermediary.
1.7 Upon assessment of your requirements we will make a recommendation for a particular insurance product. Our advice will be confirmed
in a demands and needs statement which will clearly state the reasons for our recommendation.
2 Relationship with BBPS Ltd
We are a Partner Broker of BBPS Ltd. BBPS Ltd is an independent insurance intermediary; authorised and regulated by the Financial
Conduct Authority (FCA). Their Financial Services Register number is 307079. These details can be checked on the Financial Services
Register by visiting the FCA's website at https://register.fca.org.uk/ or by contacting the FCA on 0300 500 8082.
BBPS Ltd provides us with access to products and services. BBPS Ltd may receive remuneration from insurers, finance providers and
other associated business partners for business we place with them. Please ask us if you would like further information.
3 Our Remuneration and other Income
3.1 We reserve the right, at our discretion, to make an administration charge. We will charge a non-refundable £35 fee for any mid-term
adjustment on any one policy. A £50 non-refundable fee will be applied for a mid-term adjustment on 2 or more policies. Upon early
cancellation of your policy, we will charge a fee of £50. These fees may be subject to change and where this is the case you will always
be advised of the actual fee in writing.
3.2 We usually receive commission from an insurer when placing your business and from a finance provider when arranging finance for you.
We occasionally receive additional remuneration from insurers, finance providers and other associated business partners for business we
place with them. Please ask us if you would like further information.
3.3 Our remuneration in whatever form and in respect of any policy shall be due on the date of inception or renewal of that policy. We shall be
entitled to retain all commission and/or agreed fees in respect of the full policy period including where you appoint another intermediary in
our place during the currency of a policy, or where a policy is cancelled after inception or renewal. (Also see Clause 9. Short period and
cancelled policies).
4 Commercial Customers Duty of Disclosure
4.1 Your policy documents will state your customer classification.
4.2 You must, at all times act with utmost good faith towards your insurer. This means that before your policy is placed, at renewal, when
varying or extending the policy (and also during the policy period if your policy contains a particular clause stating that any change in
circumstances must be advised to your insurer), you must disclose to us all information, facts and circumstances which are, or ought to
be, known to you and which are material to the risk. When providing information or completing a proposal form or otherwise confirming
any information to us, you should take care to ensure that the details provided are complete and accurate. You should note that your duty
of disclosure is not confined to answering specific questions asked by us or your insurers and that all material circumstances should be
disclosed to us whether or not we or your insurer has asked for the information. Circumstances which may be considered material are:
• special or unusual facts relating to the risk;
• any particular concerns which led you to seek insurance cover;
• anything which would generally be understood as being something that should be disclosed for the type of risk in question.
4.3 If you are unsure whether a fact or circumstance should be disclosed, or whether the duty of disclosure information continues throughout
the period of your policy you should disclose the information anyway as failure to do so may lead your insurer to reduce its claim
payment, apply additional terms or even avoid your policy.
4.4 You should keep a record (including copies of letters) of all information provided for future reference.
4.5 Your attention is drawn to the accompanying Duty of Disclosure and Fair Presentation document which sets out a number of your
obligations. In addition, the below sets out further obligations which apply to all services that we provide to you when arranging your

11 V6BBPSNonCMCommercialCTOBA11.20
 insurance cover.
5 Renewal of Contract
5.1 We will contact you in good time before your renewal date, offering your terms or in situations where we are not inviting renewal we will
tell you. Renewal of the contract is based on the information you supplied when we arranged your current contract along with any
amendments you have made during the period of cover. It is important that you tell us about any changes to your requirements.
6 Documentation
6.1. It is your responsibility to read all documentation upon receipt and raise any query regarding it, otherwise you risk a loss you suffer not
being paid in part or in full. Documentation including your policy and certificate, if applicable, will be issued to you upon receipt from
insurers.
6.2. You must check all documentation issued to you, to ensure the details are correct and the insurance cover provided meets your
requirements. We will arrange insurance cover according to your instructions but only you can identify if it does not meet your intentions.
If you have any concerns in respect of your insurance cover or are uncertain as to the meaning of any terms and conditions, or if you
discover errors in the documentation, then you must notify us immediately.
7 Payment of the Premium
7.1 You must provide the premium due in cleared funds in accordance with the amounts specified in our payments options schedule. Failure
to meet the payment may lead to insurers cancelling your policy.
7.2 Please refer to our payment options schedule for full details on how to make a payment.
7.3 Please note that cover will cease if you fail to keep up payments under a credit agreement.
7.4 We have no obligation to fund any premium, taxes or fees (if applicable), on your behalf, nor do we have any responsibility for any loss
you may suffer as a result of cancellation of insurance cover, or any other prejudicial steps taken as a result of late payment substantially
attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and
any information or documents required by law.
7.5 We shall be entitled (but not obliged), without providing notice to you to set off any amounts due to us from you, against any amounts
which we may receive on your behalf (i.e., claims moneys, refunded premiums and other sums). Please be aware that full or partial non-
payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.
8 Transferred Business
8.1 When we are appointed to service insurance policies other than at their inception or renewal and which were originally arranged via
another party, we shall not be liable during the current insurance period for any loss arising from any errors or omissions or gaps in your
insurance cover, or advice not supplied by us. Should you have any concerns in respect of a policy, which has been transferred to us, or
if you require an immediate review of your insurance arrangements, you must notify us immediately; otherwise, we shall review your
insurance arrangements and advise accordingly as each policy falls due for renewal.
9 Cancellation Rights
9.1 If you wish to cancel your policy, then you will need to return the policy document and current certificate of insurance (if applicable), and
confirm your cancellation instructions. Subject to the cancellation terms of your policy, a refund of premium may be available. Details of
any applicable cancellation terms and charges will be found in your policy documents. Our commission and/or fees are fully earned from
the date insurance cover commences and may not be refundable in the event of cancellation, avoidance or early termination of a policy.
10 Refund Procedures
10.1 For some insurance contracts, insurers will not provide refunds for mid-term cancellation of cover. We will tell you if this affects you.
10.2 We do not provide refund payments of less than £5.00.
11 Notification of Claims or Incidents
11.1 Many insurers provide a 24 hour helpline in respect of claims. Please refer to your policy documents for contact details.
11.2 Please ensure that you report all incidents that could give rise to a claim as soon as you become aware of them either by contacting your
insurer or ourselves.
11.3 If you receive correspondence from a third party about your claim please pass it to us or your insurer immediately and unanswered.
11.4 If you require any assistance with a claim or incident please contact us.
12 Client and Insurer Money
12.1 We are not authorised to handle client monies, all client money is handled by BBPS Ltd. Details of who BBPS Ltd are is shown in
clause 2 of this document. BBPS Ltd hold all client money in a trust account, the purpose of which is to protect you in the event of
financial failure since, in such circumstances, general creditors would not be able to make claims on client money.
12.2 If BBPS Ltd hold money on a client’s behalf, it will be held in a trust fund that is separate from their own cash assets. These separate trust
fund arrangements are commonly known as 'client money'. If they were ever unable to pay their debts, then those to whom they owe
money (their creditors) should not be able to make claims on their client money in the separate trust funds as it does not form part of their
own cash assets.
12.3 The trust arrangement BBPS Ltd use for client money is known as a non-statutory trust. Here, they may use premiums and claims monies
they receive to fund other clients’ premiums and claims; for example they may pay a premium on to an insurer before they have received
it from the client if they believe it is in the best interests of that client.
12.4 BBPS Ltd have agreements with some insurers (known as 'risk transfer agreements'). Under these risk transfer agreements the insurers
agree that they are responsible to you for any premium that you have already paid to us and that the insurer remains responsible for any
premium refunds or claims payments until the premium refund or claim payment is received by you. In this case BBPS Ltd may hold client
money due to or from the insurers in the same trust fund.
12.5 Where BBPS Ltd do not have risk transfer agreements in place with insurers, the client money they hold will still be protected within the
non-statutory trust. Money held as client money has priority over insurers to the money in the trust fund as insurers granting risk transfer
have agreed to subordinate their interests in the trust to those of BBPS Ltd non risk transfer clients.
12.6 BBPS Ltd do not use client money to pay commission before they receive your premium.
12.7 When BBPS Ltd hold client money on trust for you this gives rise to fiduciary duties upon them that will not be discharged until the client
money is deemed to have reached the insurer or product provider (as detailed above, this is when they receive premium in case of risk
transfer agreements).

12 V6BBPSNonCMCommercialCTOBA11.20
 12.8 Without affecting BBPS Ltd's fiduciary duties to you, in some cases they may:
• hold client money in accounts which are outside of the United Kingdom and which may be subject to different legal and regulatory
conditions and may treat money differently in the event of a bank failing. If you are a consumer (a person who buys products or
services for personal use and not for business purposes) you can ask them not to put your client money in an account in a particular
country.
• pass client money to another intermediary, including ones outside of the United Kingdom where different legal and regulatory
conditions apply and where money may be treated differently in the event of an intermediary failing. If you are a consumer, you can
ask them to pass your money to an intermediary outside of the United Kingdom or in a particular country.
• arrange to hold certain investments with a value at least equal to the money that would otherwise have been paid into a separate
client account. If they do this, they will be responsible for meeting any shortfall in the client money funds if the shortfall is due to a
reduction in the market value of those investments.
12.9 If, in the process of handing client money, they earn interest or benefit from investment income or from foreign rate movements, they will
keep any such amounts.
13 Confidentiality and Security
13.1 To help make sure you receive a competitive quotation, offer of appropriate payment options, protection against fraud and to verify your
identity, insurers may use publicly available data which they obtain from a variety of sources, including a credit reference agency and
other external organisations. Their search will appear on your credit report whether or not your application proceeds.
13.2 All information on our records relating to you will be treated as private and confidential and will only be disclosed to others such as our
business partners, insurers, credit providers and other third parties who are directly involved in the normal course of arranging and
administering your insurance. By accessing our sites and using our services, you consent to any such transfer of information to a third
party.
13.3 Where you have given us consent we may use the data we hold about you to provide you with a renewal quotation and information about
products and services we consider may be appropriate.
13.4 Our Retention of your Personal Information - By using our services you consent to us and our partners retaining any personal information
you have provided. We will retain any personal information only for as long as is necessary to fulfil the business purpose for which it was
collected. We will also retain and use your personal information for as long as necessary to comply with our legal obligations, resolve
disputes, and enforce our agreements.

Under the General Data Protection Regulations 2018, you have the right to ask us for a copy of any personal information about yourself
that we hold on our records. Please contact us if you require any more information. For further information on your rights under the
General Data Protection Regulations please refer to the Information Commissioners Office – www.ico.org.uk.
14 Termination of Agreement
14.1 Our agreement may be terminated by either one of us giving 14 days notice in writing to the other. You will be liable to pay for any
outstanding transactions or adjustments prior to termination without any penalty fee as long as these are settled immediately on
termination.
14.2 We will be entitled to retain any fees or commission payable in relation to business transacted prior to the date of termination.
15 Law and Jurisdiction
15.1 These Terms of Business which form our agreement with you, shall be governed by and construed in accordance with the laws of
England and the exclusive jurisdiction of the English courts unless we agree with you otherwise.
16 Bribery and Corruption
16.1 Our company culture and ethics mean that we do not bribe or use any other means to improperly influence the decisions of clients,
potential clients or government officials. Our business is structured with appropriate systems and controls so as to comply with the
requirements of the Bribery Act 2010.
17 Sanctions
17.1 Both parties shall pay due regard to, and co-operate in respect of the observance of, any applicable international economic, financial or
trade sanctions legislation.
18 Complaints
18.1 Our aim is to provide all of our clients with an excellent level of service, however we recognise that there may be occasions when you do
not feel satisfied with the service you have received from us. Should you need to make a complaint please contact our Complaints
Manager using any of the following methods:
email: [email protected]
post: 1st Choice Insurance
Jupiter House
Sitka Drive
Shrewsbury
Shropshire
SY2 6LG
United Kingdom
Tel: 0300 600 0601
17.2 We aim to resolve complaints within 3 business days following receipt, however if we can't we will write to you within five working days to
acknowledge your complaint and provide details of our complaint handling procedures and who is dealing with your complaint.
17.3 We aim to provide a final response to your complaint within eight weeks from the date of receipt of your complaint and if we cannot we will
outline the reasons for the delay and provide you with an indication of when you can expect to receive a response.
17.4 If you are dissatisfied with our final response, or we have been unable to provide our final response to your complaint you may be eligible
to refer the matter to the Financial Ombudsman Service (FOS) free of charge. Details of the eligibility criteria can be found in our
complaints procedure or on the FOS website https://financial-ombudsman.org.uk. If you do decide to refer your complaint to the
Ombudsman you must do so within six months of the date of our final response.

13 V6BBPSNonCMCommercialCTOBA11.20
 17.5 The FOS offer an independent service for resolving disputes and you can contact the FOS by:
• Calling their consumer helpline on 0800 0234 567 or 0300 1239 123;
• Writing to them at Exchange Tower, London E14 9SR;
• Emailing [email protected].
17.6 We will include a copy of the Financial Ombudsman Service's leaflet in all resolution letters.
18 Solvency and Compensation
18.4 We do not guarantee the solvency of any insurer we place business with.
18.5 We are covered by the Financial Services Compensation Scheme (FSCS) for insurance mediation only; this does not extend to consumer
credit lending. The FSCS is the UK's compensation fund of last resort for clients of authorised financial services firms. You may be
entitled to compensation from the FSCS if we cannot meet our obligations. This depends on the type of business and circumstances of
the claim.
18.6 Insurance advising and arranging is covered for 90% of the claim with no upper limit, although compulsory insurance is protected in full.
Further details about the FSCS can be found on their website www.fscs.org.uk.
19 Conflicts of Interest
19.4 Our company ethics and culture towards customer service means that we never deliberately put ourselves in a position where our
interests or our duty to another party prevents us from discharging our duty to you.
19.5 Where we become aware of any actual or potential conflict of interest we will tell you about the situation, the options available to you and
we will ask for your consent to proceed.

14 V6BBPSNonCMCommercialCTOBA11.20