Old Insurance Wisdom for New AI Risks
Artificial intelligence (AI) may be new to the insurance market, but uncertainty is an old customer. Insurers have spent centuries figuring out how to price unfamiliar risks, reward precautions, and avoid betting the whole portfolio on the same weak link. AI gives them new facts to assess, not a reason to discard that experience.
In a recent Truth on the Market post, Ian Adams revisited his decade-old warnings against coverage mandates and taxpayer backstops for cyber insurance. The cyber market’s subsequent growth supports his case for patience. Insurers have expanded coverage while…
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