Markel International, a division of Markel Insurance, the insurance operations within Markel Group Inc., and broker Willis, have launched a dedicated nuclear insurance facility described as a “market-first” initiative.
The facility is designed to provide expanded, comprehensive underwriting capacity for the nuclear sector, reportedly reflecting what market participants see as growing confidence in nuclear energy’s role in the global energy transition.
“The facility will offer property damage and business interruption cover spanning both nuclear-critical and conventional exposures, across the full lifecycle of a project, from construction through to operation.
Capacity can be deployed on a quota share or excess of loss basis, giving clients flexibility in how they structure their programmes,” the two firms explained.
They said the new facility is a credible addition to traditional insurance solutions and offers a practical response to rising client demand for capacity, emphasising that it is intended to complement existing market structures rather than replace them.
Rohan Davies, Managing Director – London Market at Markel International, commented, “With renewed global momentum behind nuclear, driven by the transition to low-carbon energy and increasing demand from data centres and AI, the sector is entering a new phase of growth and demands a step change in how the insurance market responds.
“This joint facility with Willis is our answer to that: tailored, specialist capacity structured for the complexity of modern nuclear projects, built for an era when the stakes and the scale are higher than ever.”
Rupert Mackenzie, Global Head of Natural Resources at Willis, said, “Our clients need reliable, comprehensive coverage backed by strong market relationships.
“We’re pleased to be working with an innovative insurer like Markel to launch a facility that provides a diversification option that addresses the scale and complexity of today’s nuclear facilities.”
