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Commercial insurers and agencies face fast-changing AI coverage language
Verisk has filed updates to standard general liability forms to address generative AI exposure, with changes expected across upcoming policy cycles, while carriers add new AI endorsements and modify cyber language for AI-driven fraud.
Over the past year, artificial intelligence has moved from experimentation into everyday business operations, with companies using it to draft communications, automate workflows, analyze data, support hiring decisions, and accelerate customer service, according to Coverager.
As AI becomes embedded in common software and processes, insurance carriers are revising how AI-related risks are handled in policy language. Coverager notes that policy language around AI exposure is evolving quickly, including the emergence of new exclusions, specialty products, and coverage that can span multiple lines at once.
For independent agencies, Coverager says the shift creates both a challenge and an opportunity, even when clients are not actively seeking AI-related cyber coverage. The outlet highlights that carriers are moving to make AI treatment more explicit, particularly in general liability and professional liability lines.
Coverager also points to concrete form changes and product updates, including Verisk’s filed updates to standard GL forms for generative AI exposure, with changes expected to roll out across upcoming policy cycles, plus the arrival of affirmative AI endorsements covering risks such as model failure and AI-enabled fraud. The outlet adds that cyber coverage is also being updated to explicitly include AI-driven events such as deepfake-enabled fraud.