Aon Unveils $2.5 bn Lifecycle Insurance Program for Gas Power Projects

AON launched a Power Lifecycle Program on September 28 for conventional gas power projects, offering up to $2.5 billion per project in erection all risks and delay-in-startup cover during construction, and up to $2.5 billion in operational property damage and business interruption cover once plants are running. The program adds up to $100 million of construction and operational third-party liability, and it spans construction, testing, commissioning and operation.

The pitch is continuity. Aon says separate construction and operating policies can leave exposure windows that complicate financing and schedules, and the program is aimed at power developers, private equity firms, contractors, asset owners and data center operators, including dedicated plants that supply data centers. Aon cites International Energy Agency estimates that data center electricity consumption will reach about 950 terawatt-hours by 2030, with gas-fired generation absorbing much of that demand. "As investment in energy infrastructure continues to grow, organizations require risk solutions that evolve alongside increasingly complex power assets," said Joe Peiser, CEO of Risk Capital at Aon.

The launch builds on Aon's Data Center Lifecycle Insurance Program, which expanded to $5 billion of capacity in July 2026, and follows a separate onshore renewables insurance facility the company announced a day earlier. Together they position Aon's risk capital business around the AI infrastructure buildout across both gas and renewable generation. Watch for uptake among data center developers and whether brokerage growth in the power and infrastructure practice shows up in Aon's next quarterly results.