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Jon Tellekamp

Jon Tellekamp

Chief Underwriting Officer, Construction and Energy at AXA XL, specializing in construction and energy insurance risk.

Sep 3, 2026

0:22
So I was curious to start off how significant the current data center construction boom is for insurers and what sort of makes this different from other periods of commercial construction?
0:32
Yeah, I mean, this has certainly taken over the market from a conversation perspective, and it's something that we're working on day in, day out.
0:41
The team has had submissions for probably the last year and a half, but it definitely continues to ramp up and be the number one opportunity that's either coming in or that we see in the market.
0:50
So to your question of what's the current boom and how is this different and what we're seeing is it's different in a few different ways.
1:02
It's different that the amount of dollars being spent on these facilities is just astronomical.
1:07
I mean, we're talking tens of billions of dollars in certain sites that was just unheard of previously, where, you know, if you go back five, ten years, data centers were being built, but the cost of those data centers were in the $300 million range.
1:21
So now you're talking multi-billion dollars as opposed to $300 million.

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