Marsh, the insurance brokerage business of Marsh McLennan, announced the launch of Nimbus, a new insurance facility providing clients with comprehensive cover for the construction of large-scale data centers across the UK and Europe.
The facility – supported by a panel of insurers from Lloyd’s and company markets in London and Europe – combines traditional construction all-risks, delay in start-up, property damage and business interruption cover. Nimbus provides up to €1 billion (US$1.2 billion) in construction all-risks coverage and up to €350 million in additional cover for delay in start-up.
The launch of Nimbus comes amid a surge in data center construction projects across the region, as technology companies seek to quickly meet increasing demand for more processing and storage power. With Nimbus, clients have streamlined access to specialised coverage from A-rated carriers with optimal terms and conditions, enabling them to manage their critical assets more efficiently and confidently.
“Data centers 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,” commented Kelly Looney, UK CEO, Construction, Infrastructure & Surety, Marsh Specialty.
“Marsh is committed to enabling the technology sector to meet growing demand for data center infrastructure; Nimbus provides clients with project-specific coverage via a streamlined process that expedites the delivery of data center construction projects and ensures a seamless transition to operational readiness,” Looney added.
Marsh recently announced the launch of its Data Centre Insurance and Risk Management Services, which addresses the unique challenges faced by data center operators and related sectors and provides risk management and insurance solutions for clients globally throughout the lifecycle of data center operations.
Source: Marsh
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