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Marsh launches Stratus exchange for operational data center risks
The new exchange targets operational-phase exposures, offering up to $10 billion in single-placement property capacity sourced from 30 capital providers.
Marsh has launched Stratus, a property insurance exchange tailored to the operational risks of digital infrastructure projects, including data centers and their critical support systems. The platform is aimed at US-domiciled companies and is designed to address how risk profiles change and become more complex once projects move from construction into service, a stage Marsh says is different from the underwriting challenge during the build phase.
Stratus provides access to up to $10 billion in property insurance capacity on a single placement, with 30 traditional and alternative capital providers evaluating each risk individually. Marsh said the exchange structure is intended to help capital providers better assess, quantify, and diversify risk, while also targeting aggregation concerns that can arise during the transition to operations.
The exchange is built to extend Marsh’s existing construction-phase facility, Nimbus, launched in June 2025. Nimbus has grown to offer up to $2.7 billion in limits, including delay in start-up and business interruption coverage, and Marsh expanded further in February with Nimbus Casualty, an excess casualty facility for long-term liability exposures faced by data center developers.
Marsh said Stratus will initially launch focused on property coverage before expanding into inland marine, cyber, and casualty lines, working toward a single point of access across a project’s full lifecycle from construction through operation. Insurance Business reports that Marsh linked the launch to the shift in risk drivers once a project goes live, including multi-billion-dollar campuses, self-generating power systems, and emerging technologies used in processing units and critical equipment.