Major insurers are moving to ring-fence their exposure to artificial intelligence failures, after a run of costly and highly public incidents pushed concerns about systemic, correlated losses to the top of the industry’s risk models. According to the Financial Times, AIG, WR Berkley, and Great American have each sought regulatory clearance for new policy exclusions that would allow them to deny claims tied to the use or integration of AI systems, including chatbots and agents.
The requests arrive at a…
