Broker Marsh has introduced a €1bn insurance facility named Nimbus to support clients involved in large-scale data center construction projects in the United Kingdom and Europe.
Backed by insurers from Lloyd’s and the company markets in both London and continental Europe, Nimbus offers combined coverage for construction all-risks, delay in start-up, property damage, and business interruption.
Marsh stated that the facility provides up to €1bn in construction all-risks coverage and up to €350mn in additional protection for delay in start-up.
Marsh cited rising demand for data centers across the region as a key factor in launching the facility, with technology firms scaling up infrastructure to meet growing needs for processing and storage capacity.
Kelly Looney, U.K. CEO for construction, infrastructure, and surety at Marsh Specialty, stated the importance of timely and cost-efficient project delivery, stating that data centers now serve as the operational backbone of the digital economy across telecommunications, computing, and storage.
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.
Kelly Looney, U.K. CEO for construction, infrastructure, and surety at Marsh Specialty
Looney said Nimbus provides project-specific cover through a streamlined process that accelerates data center development and supports a smooth shift from construction to full operation.
Nimbus gives clients project-specific coverage via a streamlined process that expedites the delivery of data center construction projects and ensures a seamless transition to operational readiness
Marsh also announced the creation of its Data Center Insurance and Risk Management Services unit, which delivers risk and insurance solutions for operators and stakeholders across the entire data center lifecycle.
