The move follows a wave of new insurance offerings and capacity expansions as the insurance industry targets growing data centre opportunity - and risks.
While global losses were below the 10-year average last year, APAC's persistent protection gap means only about US$9bn of its US$73bn losses were insured.
The facility, backed by over 10 (re)insurers and Lloyd’s syndicates, aims to streamline insurance for large-scale AI projects by combining multiple coverages under one, modular contract.
