The rise of AI: implications for D&O insurance wordings
Jonathan Hopkins of DAC Beachcroft and Zurich’s Jack O’Neill tackle the opportunities and challenges for brokers. Clients are asking about the impact of artificial intelligence on directors’ and officers’ insurance policies in a fast-changing landscape. Are existing policies, broadly, fit for purpose?
According to Amazon Web Services, at least one business adopts artificial intelligence every 60 seconds in the UK, with more than 52% of businesses now using AI.
It’s an increasingly hot topic for management teams who want to maximise operational efficiencies by incorporating AI, while at the same time manage associated risks.
This includes risks to the directors themselves, who may be held accountable for management failings directly linked to how AI is implemented and overseen.
For brokers, this
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