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Recently, several major insurance companies, including AIG, Great American, and WR Berkley, have applied to U.S. regulators, hoping to exclude liability related to artificial intelligence from corporate policies. This request reflects the industry's deep concerns about the risks of artificial intelligence. A underwriter told the Financial Times that the outputs of AI models "are too much like a black box," making it difficult to predict and assess their potential risks.
Image source note: The image is generated by AI, and the image licensing service provider is Midjourney
As more and more companies adopt artificial intelligence technology, insurance companies are facing unprecedented challenges. For example, Google's artificial intelligence once wrongly accused a solar energy company of legal issues, leading the company to face a $110 million lawsuit this March. Last year, Air Canada got into trouble because its chatbot sent discount information. In addition, fraudsters used a digital clone of an executive to defraud Arup, a design engineering company based in London, out of $25 million through a video call.
The biggest concern for insurance companies is not a single large payout, but the possibility of thousands of simultaneous claims arising from failures in widely used AI models, which could lead to systemic risks. As a senior executive at Aon stated, insurance companies can withstand a loss of $400 million for one company, but they cannot handle 10,000 simultaneous claims caused by AI agent failures.
This situation has prompted deep reflection within the industry. How to reasonably assess the risks of artificial intelligence and develop corresponding insurance policies has become an important issue that insurance companies must face.
Key points:
🌐 Insurance companies request to exclude liability related to artificial intelligence, reflecting deep concerns about AI risks.
💼 Multiple real cases show that AI errors may lead to huge compensation and legal disputes.
⚠️ The risk of simultaneous claims may pose a systemic threat to insurance companies.