10 hours ago
Marsh unveils insurance facility for data centre construction in Europe and UK
Marsh, the insurance broker and risk advisor under Marsh McLennan, has launched Nimbus, an insurance facility targeting the construction of large-scale data centres in the UK and Europe.
The facility is supported by a panel of insurers from Lloyd's and company markets in London and Europe.
It combines traditional construction all-risks, delay in start-up, property damage and business interruption coverage.
Nimbus offers up to €1bn in construction all-risks coverage and up to €350m for delay in start-up.
The launch aligns with a surge in data centre construction projects in the region. Technology companies are racing to meet growing demand for increased processing and storage capacity.
The facility aims to give clients access to specialised coverage to enable more efficient management of data centre construction projects.
Marsh Specialty UK Construction, Infrastructure & Surety CEO Kelly Looney said: 'Data centres are fast becoming the fourth utility and are the engine rooms of the global economy. 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.
'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.'
This announcement follows Marsh's recent launch of its Data Centre Insurance and Risk Management Services and the introduction of CyberShore Bermuda, an excess cyber insurance facility providing up to $30m in coverage.
"Marsh unveils insurance facility for data centre construction in Europe and UK " was originally created and published by Life Insurance International, a GlobalData owned brand.
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