‘Data centres are fast becoming the fourth utility and are the engine rooms of the global economy,’ says chief executive
Marsh has launched a new £850m (€1bn) insurance facility aimed at supporting the expansion of large-scale data centre construction across the UK and Europe.
The proposition, named Nimbus, has been designed to ease access to specialist insurance for data centre projects and is backed by a panel of Lloyd’s and company market insurers based in London and Europe.
It combines multiple lines of cover – including construction all-risks, delays in startup, property damage and business interruption – under one facility.
It offers up to £850m (€1bn) in construction all-risks capacity and up to £298m (€350m) in cover for delay in startup.
Marsh said the facility responds to growing demand for critical infrastructure as technology firms race to build capacity for greater data processing and storage.
’The fourth utility’
Kelly Looney, UK chief executive of construction, infrastructure and surety at Marsh Specialty, said the facility was intended to help clients deliver complex data centre projects with greater confidence.
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“Data centres are fast becoming the fourth utility and are the engine rooms of the global economy,” she said.
“Given the crucial role they now play in telecommunications, computer systems and data storage, it is essential that their construction is completed on time and on budget.”
She continued: “Marsh is committed to enabling the technology sector to meet growing demand for data centre infrastructure. Nimbus provides clients with project-specific coverage via a streamlined process that expedites the delivery of data centre construction projects and ensures a seamless transition to operational readiness.”
The facility follows Marsh’s recent launch of its Data Centre Insurance and Risk Management Services initiative, which aims to support data centre operators through their entire infrastructure lifecycle.
The broker said Nimbus aligned with this wider risk advisory proposition and was built in partnership with A-rated carriers to ensure clients benefit from “optimal terms and conditions”.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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