Insurance broker and risk advisor Marsh has launched a new insurance product covering data center construction.

The company this week announced the launch of Nimbus, a new insurance facility providing clients cover for the construction of large-scale data centres across the UK and Europe.

Supported by a panel of insurers from Lloyd’s and company markets in London and Europe, Nimbus provides up to €1 billion ($1.15bn) in construction all-risks coverage and up to €350 million in additional cover for delay in start-up.

The service combines traditional construction all-risks, delay in start-up, property damage, and business interruption cover.

Kelly Looney, UK CEO, construction, infrastructure and surety, Marsh Specialty, said: “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.”

Looney added: “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.”

Marsh, which is part of Marsh McLennan, last month announced the launch of its data center insurance and risk management services, to address what it called the “unique challenges” faced by data center operators.

The new service provides risk management and insurance solutions for clients globally throughout the lifecycle of data centers. The service includes a suite of insurance products tailored specifically for data centres, covering standard property damage and business interruption, physical cyber (the real-world effects of cyber events, including damage to data centres, business interruption, and other related losses), construction, and more.

At the time of the launch, Sam Tiltman, UK technology growth leader at Marsh, said: “By leveraging our deep industry expertise and global resources, we empower data center developers, operators, and owners to protect their investments and enhance their resilience against emerging threats.”