Concerning! How much will this impact the development of ML & AI?
The pricing of such liability insurance policies may not be easy!
"Insurers move to limit their exposure to AI-related claims
Major insurers including units of Berkshire Hathaway, Travelers Group, and Chubb Limited are seeking to exclude or restrict coverage in standard liability policies of damage caused by artificial intelligence systems.
The shift reflects concerns that AI-driven errors such as faulty outputs, fraud enabled by deepfakes, or failures of automated decision-making could generate large, hard-to-model claims, leading insurers to exclude such events or require new, AI-specific coverage. As insurers narrow their coverage, companies that deploy AI systems may need to absorb risk directly or purchase specialized policies. " (Source)
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