The data centre boom has had a massive impact on the insurance market - reshaping perceptions of mega projects. Here, experts from Aon and Gallagher look at how risk transfer discussions have changed and what Canadian brokers can expect next.
00:00 - Paul Lucas: A billion dollar construction project used to be a mega project. In the data center market, it's now where the conversation starts.
00:05 - Todd Henderson: You know, one billion dollar data center project is really at the smaller end of the scale of what we're seeing. Under our program where I work at Aon, um we've got $5 billion US capacity for data center projects. We had $10 billion US dollars in capacity raised for a data center in the US. It had 75 insurers on the slip.
00:33 - Paul Lucas: The capacity exists, but getting to it requires a fundamentally different approach to placement.
00:39 - Mike Hergott: These aren't just technology projects anymore. They're massive construction, power, risk transfer discussions that need to take place very much earlier.
00:48 - Paul Lucas: And for Canadian brokers, the bigger question is what's coming next.
00:52 - Todd Henderson: When certain players come into the Canadian market, there will absolutely be a captive play.
00:59 - Paul Lucas: The data center boom is here. The brokers building expertise in how this risk is placed, structured, and retained are the ones who will be ready for it. For more from our construction insurance power panel, check out the full round table now at Insurance Business TV.
