Tallarna, an award-winning climate technology company for the built environment, has announced that its wholly-owned subsidiary insurance broker, Kellclair, has received authorisation from the Financial Conduct Authority (FCA) to advise, arrange, and administer non-investment insurance contracts.
In partnership with AmTrust Financial Services, Inc. (AmTrust), a global specialty property and casualty insurer, Kellclair underwrites Energy Savings Insurance.
Tallarna and AmTrust, co-created the Energy Savings Insurance that provides a scalable mechanism for project investors to deploy capital into the energy transition space. This policy guarantees the energy outputs (kWh, £) of large-scale decarbonisation works and is exclusively available through Kellclair.
This authorisation marks a definitive point for the industry in validating the use of insurance for stimulating large-scale building decarbonisation. Kellclair’s authorisation strengthens the procurement of policies that mitigate the transitional risks of climate change.
Rupert Dixon, the Director of Insurance at Tallarna said, “Risk management is a fundamental piece of the puzzle in accelerating decarbonisation action. Kellclair’s FCA authorisation is a key milestone in the de-risking of climate investments and validation of our ability to scale distribution. We look forward to continuing to grow our suite of policy products to best support customer needs.”
This policy will act as a safety net for landlords, tenants, and investors, providing assurance of project success with the decarbonisation of real estate representing a whole new risk profile.
Energy Savings Insurance relies on risk signals from KESTREL, Tallarna’s AI platform, to automate the underwriting and claims process. The aim of this policy is to collateralise decarbonisation works, unlock efficient private finance, and support an ‘as-a-service’ delivery model from registered social landlords and utilities to energy infrastructure developers and technical consultants.
Kellclair’s authorisation will enhance the pre-packaging of Energy Savings Insurance alongside synergistic policies. In so doing, Kellclair and Tallarna will be able to tailor risk mitigation and transfer mechanisms for building decarbonisation stakeholders as they grapple with changing legislative energy efficiency requirements, ESG expectations, and customer demands.
Tallarna and Kellclair welcome the FCA’s regulatory framework as a key component in furthering transparent, credible coverage.
