The word from SCOR as they join a new consortium aiming to boost data center capacity, which is vital for the expansion of AI across the insurance sector;
SCOR has joined a consortium of more than 10 leading (re)insurers to back a groundbreaking, aggregated global insurance facility for AI and data center infrastructure. Launched by Advanced Technology Assurance (ATA), the facility is a first of its kind to integrate multiple traditional and new lines of insurance under a single multi-line policy.
The AI infrastructure market is expanding extremely rapidly, with McKinsey & Company predicting investment of more than USD 7 trillion in the sector by 2030.1
By taking an aggregated approach, this new (re)insurance facility aims to avoid the coverage gaps that can result from using separate policies in the complex, large-scale projects linked to the AI boom. Instead, it provides a straightforward solution that encompasses the entire AI and data center infrastructure sector.
SCOR’s position as lead insurer on the facility’s environmental impairment liability (EIL) section clearly demonstrates its status as a key player in the technological transition to AI, whilst protecting against pollution and environmental damage risk. SCOR will also provide follow lines on Cyber and Tech, Marine Cargo, and War and Terrorism, illustrating its cross-class expertise.
Emma Bartolo, Global EIL Segment Leader at SCOR Business Solutions, comments: “We are delighted to be part of this groundbreaking facility, which takes a holistic approach to covering the AI infrastructure market, and to use our EIL expertise to drive and protect responsible innovation.”
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