Marsh has launched a new insurance facility providing cover for the construction of large-scale datacentres across the UK and Europe. Datacentre construction projects are surging across the region, as technology companies seek to quickly meet increasing demand for processing and storage power.
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 €1bn in construction all-risks coverage and up to €350m in additional cover for delay in start-up.
Kelly Looney, UK CEO of construction, infrastructure and surety at Marsh Specialty, said datacentres 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,” she added. “Marsh is committed to enabling the technology sector to meet growing demand for datacentre infrastructure.”
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