Beazley Confirms Affirmative AI Cyber Cover
Beazley on Sept. 17 confirmed affirmative artificial intelligence cover in its cyber and tech E&O policies. As businesses adopt AI and cyber criminals increasingly use it to magnify the scale and speed of their attacks, Beazley’s affirmative AI wording delivers certainty and clarity for clients by expressly addressing AI-related risks already covered within existing cyber cover.
Alessandro Lezzi, Group Head of Cyber Risks at Beazley, said: “This endorsement makes it clear to our clients that in the event of a cyber attack, AI-driven or otherwise, they are protected. There is widespread uncertainty about the future of AI and its impact on business, both constructive and destructive. Insurance policies should not add to this uncertainty.”
CFC Strengthens Financial Institutions Suite With Full Cyber Protection, Affirmative AI Cover
Specialty insurer CFC said it is upgrading its suite of financial institutions products to include its full Cyber Proactive Response (CPR) policy and affirmative cover for cyber threats involving artificial intelligence.
The update forms part of CFC’s wider program to embed affirmative AI coverage across its portfolio, ensuring customers have clear, explicit policy language that reflects its growing use.
This latest enhancement applies across most of CFC’s FI offering, which includes dedicated products for investment managers and a wide range of other financial institutions. Available coverages include directors and officers, errors and omissions and professional liability, crime, employment practices liability, cyber and general liability, with additional specialist options available depending on the product.
By bringing multiple coverages together, CFC’s blended solutions are designed to make purchasing more efficient and reduce protection gaps and overlaps.
The cyber section of these blended FI products is now being updated to CFC’s full CPR cyber policy. It combines cyber insurance with proactive risk management tools, real-time threat monitoring and expert incident response support, as well as unlimited reinstatements and nil deductible.
The cyber wording also provides affirmative cover for AI-related cyber exposures.
CFC’s FI products are available worldwide, with tailored local variants as standalone or blended solutions.
Topics Lawsuits InsurTech Data Driven Artificial Intelligence Cyber
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