The independent insurance brokerage firm’s ‘Builders Risk and Property Program’ was created to help data centre developers, operators, and owners transition from construction to operations as seamlessly as possible.
As modern data centre construction becomes increasingly complex, Lockton explained that its approach includes a curated coverage structure. This structure covers the sequencing and operational challenges present in constructing and running large-scale multiphase projects.
According to the firm, it simultaneously provides coverage certainty during the transition from construction to commencing operations. As data centres often become operational during the facility’s construction phase, coverage gaps and administrative complications can arise during this transition.
Coverage during this time is crucial for the project, as the partial turnover phase can often expose new safety challenges. It is a time when entrenched responsibilities evolve, and priorities shift, especially as construction safety protocols differ from the safety requirements of operations.
“Every data centre project is different, and our role is to guide clients through evolving risks across the asset lifecycle with strategies informed by their development plans, operational goals, and long-term growth objectives,” said James Nelson, US practice leader for data centres and digital infrastructure at Lockton.
The US’s data centre capacity is expected to triple over the next five to six years, according to new data from Research & Markets. The entire data centre supply chain needs to stay aligned on these projects to meet the rising demand for centres, and safety requirements need to remain robust to ensure safe proceedings during transition periods.
For insurers, more data centre projects in construction mean more opportunities to provide coverage for developments like the turnover phase.
Lockton’s Data Centres & Digital Infrastructure (DCDI) practice developed the new programme, building on the firm’s existing advisory offerings on data centre risk. The company states that its client base currently represents more than 36GW of the DCDI market, making the new programme valuable for a significant sector.
Nelson concluded: “Lockton’s Builders Risk & Property Program is another tool that helps us create tailored solutions at the right tempo for our clients.”
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