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AI Whitepaper
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AI Whitepaper

Mind the Gap
A US-focused analysis of AI liability risks and the implications for insurance

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    Executive Summary

    Artificial Intelligence (AI) has captured the world’s attention. As more companies explore AI use cases in their business, the awareness of the risk of AI “going wrong” and causing damage is also increasing. Despite the buzz around AI making mistakes, the question as to how existing insurance policies protect insureds if AI goes wrong is still unanswered. This whitepaper explores the intricate landscape of AI-related liabilities, including challenges and opportunities for insurers.

    The whitepaper argues that traditional liability frameworks struggle to accommodate the unique attributes of AI systems and predicts drawn-out and expensive lawsuits to come. AI risks can trigger various insurance policies, while other AI risks are currently uninsured and coverage gaps exist. This is evident through the real-world scenarios listed in the whitepaper. It also provides valuable insights into the evolving AI insurance market and shows the parallels seen with the emergence of cyber insurance. 

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    A US-focused analysis of AI liability risks  and the implications for insurance
    Iris Devriese
    Iris Devriese
    Client Manager
    Mike Crowl
    Mike Crowl
    AI Product Manager at HSB
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    Contact the team
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