Carbon insurer Kita taps ex-Chaucer head of natural resources
Kita, a carbon insurance specialist and Lloyd's of London coverholder, has hired Chaucer's head of natural resources to help develop and deploy novel carbon insurance products that can drive investment and growth in the carbon removal sector.
James Brown (pictured) has joined Kita as new technical underwriting advisor. In his key advisory role, Brown, acting as lead consultant for JBAdvice, will use his decades of technical underwriting experience to help Kita assess risk and develop insurance products for carbon removal projects that involve durable carbon sequestration and underground storage - for example Direct Air Capture (DAC) and Bioenergy with Carbon Capture and Storage (BECCS), as well as emerging solutions in the methane space.
Kita currently offers a range of delivery risk carbon insurance products for carbon credits from ARR projects and Biochar. Going forward, Brown will help Kita to develop its portfolio so that clients can purchase coverage for credits related to a range of different project types across both nature-based solutions and engineered removal.
Brown was most recently head of natural resources Underwriting at Chaucer Group, Kita's lead capacity provider, where he was responsible for underwriting and managing a global portfolio of upstream, midstream, downstream and energy liability business.
Natalia Dorfman, CEO and Co-Founder, Kita, said: "Providing insurance for highly durable forms of carbon removal, such as DAC and BECCS, has been a high-priority item on Kita's roadmap since the start. James is an extremely skilled technical underwriter and we are confident that his experience and expertise will translate seamlessly into this new insurance market. After recently launching our biochar coverage, we are thrilled that James and JBAdvice Ltd will further accelerate the growth of our insurance offerings into wider forms of carbon removal that will be an essential part of the world's climate toolkit going forward."
Brown commented: "I am very pleased that JBAdvice Ltd has been chosen by Kita to act as their advisor and that I will have the opportunity to work with them in this capacity. It is both exciting and interesting to be involved in this sector, helping to support the development of the carbon removal industry, and Kita is playing a pivotal role in this.
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