Lockton, Parametrix team up on coverage

Lockton Cos. LLC and Parametrix Insurance Services LLC have partnered to offer parametric insurance coverage in the event of a service-level agreement breach within digital infrastructure, such as a data center.

Limits available are $100 million per data center, according to an email from a spokesperson.

Coverage is underwritten through Lockton and backed by syndicates at Lloyd’s of London, Lockton and Parametrix said in a statement.

Payouts are triggered by predefined violations of service-level agreement terms, the statement said.

The policy is designed for those involved with operating data centers, including developers, operators, investors and tenants.