Kita today announces the appointment of James Brown as their new Technical Underwriting Advisor. In this key advisory role, James, acting as lead consultant for JBAdvice Ltd, will use his decades of technical underwriting experience to help the company 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).
Kita currently offers a range of delivery risk carbon insurance products for carbon credits from ARR projects and Biochar. Going forward, James will help Kita 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.
“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,” commented Natalia Dorfman, CEO and Co-Founder, Kita.
James 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 businesses.
“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,” said James Brown of JBAdvice Ltd, Technical Underwriting Advisor, Kita.
Kita has made several significant announcements over the past months, most recently sharing their pioneering approach for paying claims in carbon. Holders of eligible insurance policies can now opt to have claims paid in replacement carbon credits in the event of a loss, offering more flexibility and greater adherence to net zero targets for corporate buyers.
Kita has also signed an LOI with Ecosystem Restoration Standard to operationalize insurance for their buffer. Buffer insurance represents another innovative carbon insurance solution with the potential to increase financial security and enable greater resilience in the carbon markets.
The appointment of JBAdvice Ltd’s James as Technical Underwriting Advisor will enable Kita to continue to make strides towards developing and deploying novel and necessary carbon insurance products that can drive investment and growth in the carbon removal sector.