Ryan Specialty Underwriting Managers (RSUM) launches Tera Underwriters, a managing general underwriter offering a specialty insurance programme for computing hardware infrastructure at industrial-scale data centres across the US. The programme has capacity to provide more than US$1 billion per policy through a US$625 million lead binder and access to additional excess insurance capital. Capacity carries an 'A+' (Superior) rating from AM Best and an 'AA-' (Very Strong) rating from S&P. The programme is available exclusively through RT Specialty, the wholesale distribution arm of Ryan Specialty. Tera is built to serve the computing infrastructure industry, where the expansion of cryptocurrency mining operations and the buildout of artificial intelligence and high-performance computing data centres have concentrated billions of dollars of high-value hardware in single facilities, beyond what traditional commercial property programmes are designed to cover. The programme uses a policy form written for the risk profile of high-value computing hardware, including application-specific integrated circuits (ASICs), graphics processing units (GPUs) and associated networking infrastructure. Cover is available in all 50 states, with international capabilities due in the fourth quarter of 2026. Underwriting appetite covers cryptocurrency mining ASIC hardware at dedicated mining facilities, AI and high-performance computing GPU clusters and accelerator hardware at hyperscale data centres, and associated networking and infrastructure equipment. Target risks are facilities with physical risk controls, fire protection and compartmentalisation, and operations backed by institutional capital, public companies and infrastructure-grade lenders. Miles Wuller, chief executive officer of RSUM, says: “The digital infrastructure sector represents one of the most significant and underserved insurance markets globally. Tera provides industry specialist underwriters who are supported by institutional-grade capacity backing purpose-built coverage for the hardware powering the digital economy.” Keith Burkhardt, chief executive officer of Tera Underwriters, adds: “We are positioned to be the long-term trading partner of choice for the world's largest computing operations and their capital providers. We look forward to supporting and innovating alongside this rapidly expanding industry.”
