Tallarna’s Insurance Subsidiary, Kellclair, Receives FCA Authorisation
Kellclair is authorised to advise, arrange, and administer non-investment insurance contracts, empowering building stakeholders to decarbonise with confidence.
LONDON, England, NEW YORK, USA, and STOCKHOLM, Sweden – 18th May, 2023
Tallarna, an award-winning climate technology company for the built environment, today 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. This authorisation marks a definitive proof point for the industry by validating the use of insurance in stimulating large-scale building decarbonisation.
Kellclair’s authorisation strengthens the procurement of policies that mitigate the transitional risks of climate change. In partnership with AmTrust Financial Services, Inc. (AmTrust), a global specialty property and casualty insurer, Kellclair underwrites Energy Savings Insurance. This policy guarantees the energy outputs (kWh, £) of large-scale decarbonisation works and is exclusively available through Kellclair. Co-created by Tallarna and AmTrust, Energy Savings Insurance provides a scalable mechanism for project investors to deploy capital into the energy transition space.
With the decarbonisation of real estate representing a whole new risk profile, this policy acts as a safety net for landlords, tenants, and investors, providing assurance of project success. Energy Savings Insurance relies on risk signals from KESTREL, Tallarna’s AI platform, to automate the underwriting and claims process. From registered social landlords and utilities to energy infrastructure developers and technical consultants, this policy is being used to collateralise decarbonisation works, unlock efficient private finance, and support an ‘as-a-service’ delivery model.
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 increasingly 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.
“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,” said Rupert Dixon, Director of Insurance at Tallarna.