First purpose-built, Lloyd’s-backed coverholder facility dedicated to cryptocurrency mining and AI/HPC data center assets

AUGUST 6, 2026 | CHICAGO, IL – Ryan Specialty Underwriting Managers (“RSUM”), the underwriting management division of Ryan Specialty (NYSE: RYAN), is pleased to announce the launch of a new managing general underwriter, Tera Underwriters (“Tera”), and its specialty insurance program designed for computing hardware infrastructure at industrial-scale data centers across the United States. The program has the capacity to provide more than $1 billion per policy through a $625M lead binder and access to additional excess insurance capital. Backed by A+-rated capital, it is available exclusively through RT Specialty, Ryan Specialty’s wholesale distributor of specialty insurance products and services.

Tera has been purpose-built to serve the computing infrastructure industry, which has been rapidly accelerating due to the expansion of cryptocurrency mining operations and the buildout of AI and high-performance computing data centers. These facilities represent billions of dollars in concentrated, high-value hardware assets that require specialized insurance solutions beyond traditional commercial property programs.

Highlights Include:

• Specialist underwriting talent exclusively focused on the AI/HPC and crypto mining computer industries
• The backing of highly rated capacity (AM Best A+ Superior / S&P AA- Very Strong)
• A purpose-built policy form designed specifically for the unique risk profile of high-value computing hardware, including ASICs, GPUs and associated networking infrastructure
• Available in all 50 states, with international capabilities to be launched in 2026 Q4

Underwriting Appetite:

• Cryptocurrency mining ASIC hardware at dedicated mining facilities
• AI/HPC GPU clusters and accelerator hardware at hyperscale data centers
• Associated networking and infrastructure equipment
• Facilities with robust physical risk controls, fire protection and compartmentalization
• Operations backed by institutional capital, public companies and infrastructure-grade lenders

“The digital infrastructure sector represents one of the most significant and underserved insurance markets globally,” said RSUM CEO Miles Wuller. “Tera provides industry specialist underwriters who are supported by institutional-grade capacity backing purpose-built coverage for the hardware powering the digital economy. We are proud to bring their solutions to the marketplace.”

Keith Burkhardt, CEO of Tera Underwriters, added, “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.”

Keith can be reached at keith.burkhardt@terauw.com or (312) 879-9634.

About Tera Underwriters

Tera Underwriters is a specialty managing general underwriter focused exclusively on insurance for industrial-scale computing hardware. Tera is a part of Ryan Specialty Underwriting Managers, the underwriting management specialty division of Ryan Specialty (NYSE: RYAN).

About Ryan Specialty Underwriting Managers

Ryan Specialty Underwriting Managers is an industry leader in delegated authority underwriting services. Our family of managing general underwriters and national programs has the expertise and authority to design, underwrite, bind, and administer a diverse portfolio of risks. Our value proposition originates with our 1500+ industry professionals who are empowered by centralized technical support and policy lifecycle administration, coupled with a broad distribution network of retail and wholesale brokers. We have been diligently servicing our valued clients and trading partners since our establishment in 2010 and now have operations in North America, the UK, Europe, the Middle East and Asia Pacific. To learn more, please visit RSUM.com.

Media Relations

Alice Phillips Topping
SVP, Chief Marketing & Communications Officer
Ryan Specialty
Alice.Topping@ryanspecialty.com
(312) 635-5976