Marsh has introduced a property insurance exchange aimed at covering the operational risks linked to digital infrastructure projects including data centres and related critical support systems.
Called Stratus, the group said it will offer access to as much as $10bn in property insurance capacity on a single-placement basis through the global property risk transfer market for the worldwide exposures of US-domiciled companies.
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Structured as an insurance exchange, the facility will involve 30 participants from traditional and alternative capital providers, each assessing risks individually to determine the appropriate level of support for a placement.
Marsh said this framework is intended to give providers a more organised trading setting in which to assess, quantify and diversify risk, while also dealing with aggregation concerns that can emerge once digital infrastructure projects move into their operational phase.
The exchange will also draw on Marsh’s data, analytics and advisory capabilities to help clients arrange tailored property cover as digital infrastructure assets transition from construction into operation.
Marsh Risk US property digital infrastructure leader Joe Macejak said: “As large digital infrastructure projects shift from construction to operation, the associated risks become larger and more complex, driven by multi-billion-dollar campuses, self-generating power systems, and emerging technologies used in processing units and critical equipment.
“By combining Marsh’s engineering data and analytics, risk consulting capabilities, and access to the global reinsurance and capital markets, Stratus is designed to improve the quality and efficiency of operational digital infrastructure property placements and help clients secure the protection they need to support growth at scale.”
Marsh said Stratus is intended to extend Nimbus, its construction-phase insurance facility, as clients move assets into the next stage of their life cycle.
The two facilities can be used independently or together, with further cover added as requirements develop.
Stratus will initially focus on property insurance, with Marsh planning to broaden the offering into other lines such as inland marine, cyber and casualty.
Separately, in March, Marsh Risk and Apollo, a Skyward Group company, launched an insurance facility for Uber Technologies to support the rollout of autonomous vehicles.
