Insurers rewrite cyber cover for agents that go rogue
Beazley, QBE and MSIG are redrafting policy language as AI agents cause losses without any hacker, unauthorised access or conventional security event to point to.
Tag: Risk Management
18 articles tagged Risk Management
Lloyd's Market Association publishes AI governance toolkit
The LMA has issued a five-theme AI Adoption Toolkit as a survey of 60% of Lloyd's market stamp capacity shows governance frameworks becoming the norm.
Bank replaces 12-person QA team with AI and books $6m loss from zero-price bug
A financial firm that disbanded its QA department for automated testing lost roughly $6m after an erroneous discount code pushed product prices to zero.
US Treasury publishes AI risk framework for financial services
New guidebook from 100+ financial institutions offers structured controls for AI governance, from bias monitoring to incident response procedures.
Insurers start writing policies for AI hallucinations and agent errors
As agentic AI replaces human oversight, specialist insurers are creating new products for AI-related losses while others add blanket exclusion clauses.
AI Turbocharges Legal Litigation as Law Firms Race to Adopt New Tools
Major law firms report significant time savings using AI for document analysis and depositions, though accuracy concerns and hallucination risks remain key challenges.
Bar Council Issues Fresh AI Guidance Amid Rise in Fabricated Case Citations
UK barristers receive updated guidance on using AI tools following High Court rulings involving hallucinated judgments and fake cases cited in court.
Data Governance Emerges as Critical Factor in AI Project Success
Sixty percent of enterprises will fail capturing AI roadmap value due to inadequate data governance, whilst over half don't track basic data quality metrics.
Many Companies Haven't Assessed Agentic AI Risks, Survey Reveals
Significant gap between AI agent deployment and risk assessment emerges, with organisations implementing autonomous systems before establishing governance frameworks and security protocols.