Resellers and MSPs are already on the search for decent and cost-effective cyber insurance packages for end customers, and now they will be increasingly asked about insurance to protect customer AI projects and potential liabilities around them.
Step forward insurance giant AXA XL, which is now offering businesses global insurance to manage their risks arising from developing their own generative AI (Gen AI) models.
Michael Colao, AXA XL’s global chief underwriting officer, cyber, said: "Looking to improve efficiency, improve customer experience, and so much more, more companies are investing in developing their own generative AI to unlock new possibilities. They must also be mindful of the risks that come with it, such as potential misuse, compliance issues, and the need for robust safeguards to ensure responsible and secure deployment.”
AXA XL’s offering addresses data poisoning, when training data can be manipulated or contaminated when developing machine learning models. By introducing misleading or false information into the training data, attackers can compromise the performance and accuracy of the resulting AI systems, leaving businesses with a costly data clean-up and litigation risks.
Usage rights infringement are also covered. Negligently failing to obtain appropriate permissions to use particular items or data, such as copyrighted materials, software licenses, and intellectual property in machine learning, can leave organisations open to litigation.
Regulatory violations are included too, such as liability resulting from the European Union’s AI Act, which aims to regulate the development and deployment of AI systems.
“Our clients sought help navigating this unchartered territory and, with our brokers’ input and feedback, we’re pleased to have developed an innovative, market-leading insurance solution to provide clear coverage for these risks, and help them leverage Gen AI without the worry of potential risks and extra costs that could hinder their efforts," said Colao.
The new Gen AI coverage is available by endorsement to AXA XL’s CyberRiskConnect policy, available throughout the US, Canada, the UK and the Lloyd’s market, and Europe and Asia.
