ATA Unveils $750M Insurance Facility to Support AI Infrastructure Growth

Advanced Technology Assurance Ltd. (ATA), a managing general underwriter based in London, has announced the launch of a substantial $750 million insurance facility aimed at underwriting the projected $7 trillion global AI infrastructure boom.

This innovative facility is backed by a consortium of over 10 leading re/insurers and Lloyd’s syndicates, including notable names such as Arch Insurance International, Munich Re Specialty, and SCOR. This collaborative effort enables ATA to offer a single policy designed to mitigate risks associated with the complex, large-scale projects that are essential for the AI revolution.

Michael Coles, chairman of ATA, stated, “We’ve brought the capacity and expertise of the world’s top re/insurers to one table to create one specialized policy that aggregates limits across traditional and new coverages.” He emphasized the importance of collaborating closely with re/insurer partners to develop meaningful line sizes, specialized coverages, and risk engineering that can keep pace with the dynamic nature of these multi-billion-dollar projects.

The ATA facility aims to integrate multiple lines of insurance over time, including property, computer hardware, cargo & transit, cyber and technology E&O, environmental liability, and terrorism, all under one comprehensive policy. Previously, developers of hyperscale data centers, tenants, or chip providers had to navigate multiple standalone policies, which often resulted in coverage gaps and potential conflicts between insurers, especially during complex claims.

Alistair Blundy, CEO and lead underwriter at ATA, remarked, “Our new ATA policy is built for the entire AI sector, from investors and lenders to tenants, chip integrators, and data center operators. We wanted to be an insurance broker’s first call for all AI stakeholders, providing them with a clear, lead-line solution.”

Chris Cowland, legal director and London wordings lead at Clyde & Co., expressed satisfaction in advising ATA on the development of its policy wording, which integrates multiple lines of insurance.

Global Re/Insurers’ Backing

The launch of this facility is supported by world-leading re/insurers who recognize the critical need for a specialized, aggregated solution. James Croome, head of Fine Art, Specie & Cargo at Arch Insurance International, stated, “We’re pleased to be leading the hardware, cargo, and terrorism coverage for the ATA facility. This facility provides a single point of access for world-class capacity, a lead-line solution, and a new standard in the market.”

Tom Allen, CUO of Cyber at Munich Re Specialty – Global Markets, Syndicate, added, “We bring Munich Re’s leading technical expertise and financial strength to this innovative offering, backing the cyber and technology E&O coverages. Together, in this new facility, we are mobilizing insurance capabilities and capacity at scale to de-risk critical projects, providing relevant insurance solutions to our clients and powering the next generation of AI infrastructure.”

Emma Bartolo, global EIL segment leader at SCOR Business Solutions, expressed enthusiasm about being part of this groundbreaking facility, highlighting its holistic approach to covering the AI infrastructure market and the commitment to responsible innovation.

Rachel Turk, chief of market performance at Lloyd’s, commented, “I’m delighted to see Lloyd’s at the forefront of supporting this groundbreaking facility. It’s a powerful example of how syndication at Lloyd’s brings world-class capacity together, making it easier to build meaningful line sizes and deliver innovative solutions that address complex needs.”

For more information on the ATA Global Data Center & AI Infrastructure facility, brokers and industry stakeholders can visit www.ata-insurance.com.

Source: Advanced Technology Assurance

Topics
InsurTech
Data Driven
Artificial Intelligence
New Markets

Advanced Technology Assurance Ltd. (ATA), a managing general underwriter based in London, has announced the launch of a substantial $750 million insurance facility aimed at underwriting the projected $7 trillion global AI infrastructure boom.

This innovative facility is backed by a consortium of over 10 leading re/insurers and Lloyd’s syndicates, including notable names such as Arch Insurance International, Munich Re Specialty, and SCOR. This collaborative effort enables ATA to offer a single policy designed to mitigate risks associated with the complex, large-scale projects that are essential for the AI revolution.

Michael Coles, chairman of ATA, stated, “We’ve brought the capacity and expertise of the world’s top re/insurers to one table to create one specialized policy that aggregates limits across traditional and new coverages.” He emphasized the importance of collaborating closely with re/insurer partners to develop meaningful line sizes, specialized coverages, and risk engineering that can keep pace with the dynamic nature of these multi-billion-dollar projects.

The ATA facility aims to integrate multiple lines of insurance over time, including property, computer hardware, cargo & transit, cyber and technology E&O, environmental liability, and terrorism, all under one comprehensive policy. Previously, developers of hyperscale data centers, tenants, or chip providers had to navigate multiple standalone policies, which often resulted in coverage gaps and potential conflicts between insurers, especially during complex claims.

Alistair Blundy, CEO and lead underwriter at ATA, remarked, “Our new ATA policy is built for the entire AI sector, from investors and lenders to tenants, chip integrators, and data center operators. We wanted to be an insurance broker’s first call for all AI stakeholders, providing them with a clear, lead-line solution.”

Chris Cowland, legal director and London wordings lead at Clyde & Co., expressed satisfaction in advising ATA on the development of its policy wording, which integrates multiple lines of insurance.

Global Re/Insurers’ Backing

The launch of this facility is supported by world-leading re/insurers who recognize the critical need for a specialized, aggregated solution. James Croome, head of Fine Art, Specie & Cargo at Arch Insurance International, stated, “We’re pleased to be leading the hardware, cargo, and terrorism coverage for the ATA facility. This facility provides a single point of access for world-class capacity, a lead-line solution, and a new standard in the market.”

Tom Allen, CUO of Cyber at Munich Re Specialty – Global Markets, Syndicate, added, “We bring Munich Re’s leading technical expertise and financial strength to this innovative offering, backing the cyber and technology E&O coverages. Together, in this new facility, we are mobilizing insurance capabilities and capacity at scale to de-risk critical projects, providing relevant insurance solutions to our clients and powering the next generation of AI infrastructure.”

Emma Bartolo, global EIL segment leader at SCOR Business Solutions, expressed enthusiasm about being part of this groundbreaking facility, highlighting its holistic approach to covering the AI infrastructure market and the commitment to responsible innovation.

Rachel Turk, chief of market performance at Lloyd’s, commented, “I’m delighted to see Lloyd’s at the forefront of supporting this groundbreaking facility. It’s a powerful example of how syndication at Lloyd’s brings world-class capacity together, making it easier to build meaningful line sizes and deliver innovative solutions that address complex needs.”

For more information on the ATA Global Data Center & AI Infrastructure facility, brokers and industry stakeholders can visit www.ata-insurance.com.

Source: Advanced Technology Assurance

Topics
InsurTech
Data Driven
Artificial Intelligence
New Markets