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Aon report finds digital infrastructure is redefining construction insurance risk as investment accelerates
Aon, a leading global professional services firm, released its 2026 Global Construction Insurance and Surety Market Report, finding that accelerating investment in digital infrastructure and data centres is reshaping construction insurance, underwriting priorities and risk transfer strategies worldwide.
Global construction activity continues to grow at pace, increasing from approximately US $ 16 trillion in 2025 to US $ 17 trillion in 2026, and is expected to reach nearly US $ 22 trillion by 2030. Much of this growth is being driven by investment in energy production, infrastructure modernisation and hyperscale digital infrastructure. This growth is unfolding alongside an estimated US $ 260 billion in global natural disaster losses in 2025, reinforcing the importance of resilient design, disciplined programme structuring and strong risk information as construction stakeholders manage cost, risk and project timelines.
While construction insurance markets are becoming more competitive across many regions, the report finds that underwriting discipline remains firmly in place for these large, technically complex and catastrophe exposed projects. Insurers are increasingly differentiating risks based on project governance, data quality and lifecycle exposure, particularly as data centre development drives larger footprints, increased power requirements and more complex transition to operations risk.
Key construction market signals to watch in 2026
• Construction insurance market dynamics are shifting, with increased capacity and competitive pricing for well managed risks across many regions.
• Underwriting discipline remains strong for complex and catastrophe-exposed projects, with heightened scrutiny on contract structure, data quality and risk controls.
• Digital infrastructure investment is accelerating, resulting in larger, more power-intensive and technically complex projects that demand higher limits, advanced risk modelling and lifecyclebased approaches to risk management.
• The global surety market remains resilient, with capacity generally plentiful for strong credit risks and growing use of surety as an alternative
Digital infrastructure is fundamentally changing the nature of construction risk. to bank guarantees, supported by disciplined underwriting focused on aggregate exposure.
The report also notes that macroeconomic volatility, geopolitical risk and cyber exposure continue to influence project delivery, loss potential and underwriting appetite across global construction portfolios.
“ Digital infrastructure is fundamentally changing the nature of construction risk,” said James MacNeal, Global Head of Construction and Infrastructure at Aon.“ As projects become larger, more technical and more operationally critical, insurers are focusing on early engagement, high quality data and programme design that reflects how these assets are built and transitioned into operation.” • www. intelligentcio. com
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