A newly incorporated SPV owned jointly by two investment management firms was seeking W&I cover for the acquisition of a UK industrial site with a view to repurposing the existing structures into a data centre.

Upon entering underwriting, it actually became apparent that the buyer encompassed a full redevelopment of the site for the purposes of constructing the intended data centre.

Icen Risk was able to effectively provide tailored coverage to accommodate for this intention to redevelop the site.