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How AI is Changing Insurance: Risks, Coverage Challenges, and Industry Adaptation

Posted on February 14, 2025February 14, 2025 By Martin Hinton

It’s not a new thought. But anything this profound needs ongoing coverage and consideration. Artificial intelligence (AI) is reshaping the world, and it is only just the beginning. The AI insurance risks to the industry are no exception. That is raising concerns about risk exposure and policy coverage.

A new blog, Woodruff Sawyer, is the most recent thing we’ve seen on the matter, and it has some interesting elements we wanted to touch on. In sum, companies integrating AI must assess its effects on property, casualty, cyber, and directors and officers (D&O) insurance.

Here are some more of our takeaways. You can read it all here.

Woodruff Sawyer logo featuring a green shield with "WS" initials and the company name in green text.
Cyber Insurance Challenges

Like a lot of tools, AI is both a cybersecurity asset and a threat. It enhances cybercriminals’ attack methods while improving defense mechanisms. I-related privacy concerns are rising, particularly regarding personally identifiable information (PII). Technology errors & omissions (E&O) claims are increasing. This leads to higher premiums as well as reduced coverage options.

AI’s Effect on Property & Casualty Insurance

AI can increase risks and liability. This is particularly concerning when the tecnhollogy is integrated into consumer products or building operations. Malfunctions could lead to property damage or injury, affecting coverage. Standard policies may address these incidents unless insurers impose exclusions.

D&O Insurance Risks

AI hype has inflated valuations the way the new thing often does. The result is an increasing likelihood of securities class actions if companies fail to achieve expected valuations. Regulatory scrutiny and potential penalties add to D&O risks. Companies must review policies to ensure protection against derivative claims, which hold directors financially liable.

Considerations for Businesses
  • Evaluate AI-related exposures and adjust coverage accordingly.
  • Policy language: AI-related exclusions, and what are the negotiated terms to prevent coverage gaps?
  • Insurers are scrutinizing AI governance, requiring businesses to document oversight and compliance measures.

Other News: Coalition Touts New AI Tools for Cyber Insurance (Opens in a new browser tab)

Martin Hinton

Martin Hinton is the Executive Editor and Publisher of Cyber Insurance News and Information. With over three decades of journalism experience across six continents, his work encompasses investigative reporting, documentaries, and coverage of cultural, political, and business news. To learn more about his career, click on his name to visit his LinkedIn page.

AI & Cyber Insurance, Cyber Insurance Tags:AI coverage, AI cybersecurity, AI governance, AI insurance, AI insurance impact, AI liability, AI risk, AI risk management, cyber insurance, cyber liability insurance, Cybersecurity, D&O insurance, insurance exclusions, Insurance Industry Trends, insurance policy changes, liability coverage, Technology E&O

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In this clip from our latest podcast episode, Dan Candee, CEO of Cork Protection, dives into a critical topic that hits close to home: Cybersecurity for Main Street businesses.

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Cybersecurity for Main Street: Dan Candee on Protecting Small Businesses | CEO of Cork Protection
SMB Cyber Threats - In this episode of the Cyber Insurance News Podcast, host Martin Hinton talks with Dan Candee, CEO of Cork Protection, about the rising tide of cyber threats targeting small and mid-sized businesses (SMBs). Dan shares his journey from Main Street entrepreneur to cybersecurity leader, offering real-world insight into the threat landscape, financial vulnerabilities, and how AI and managed service providers (MSPs) can help fortify business resilience.

We explore:
• Why Main Street is more vulnerable than Wall Street
• Common SMB cybersecurity blind spots (like ACH fraud)
• The evolving role of managed service providers
• How Cork Protection blends cybersecurity and cyber insurance
• Real-world attack case studies and practical advice for SMBs

Whether you’re a small business owner, MSP, or cyber pro, this episode unpacks how to prepare, prevent, and protect your organization in today’s digital world.

📌 Topics: cybersecurity, cyber insurance, social engineering, SMB protection, ransomware, AI in security, MSPs

🎙 Guest: Dan Candee, CEO of Cork Protection
📢 Host: Martin Hinton, Executive Editor, Cyber Insurance News

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#CyberSecurity #CyberInsurance #SMB #AI #CyberPodcast #BusinessResilience #smallbusiness #sme
00:00 Introduction - Dan Candee and Cork Protection
02:27 The Importance of Cybersecurity for Small Businesses
05:29 Understanding Cyber Threats and Their Impact
08:26 The Role of Managed Service Providers in Cybersecurity
11:24 24Financial Protection and Cyber Insurance Solutions
14:01 Leveraging AI in Cybersecurity
16:53 Navigating Cyber Insurance Policies
19:56 Empowering Small Businesses with Knowledge
21:52 The Future of Cybersecurity and Community Resilience
26:05 MSP/ MSSP The Lingo decoded
29:05 Finals Thoughts and a bit of Hope!
SMBs Are Cyber Targets | Dan Candee on Cyber Resilience & AI | Cyber Insurance News Podcast EP#6
Cyberattack on Small Business is on the rise—and AI is making it worse. In this episode of the Cyber Insurance News Podcast, host Martin Hinton sits down with William Altman of CyberCube to unpack how AI is enabling threat actors to more efficiently target and exploit small businesses.

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🎙️ Timestamps:
0:00 - Introduction
6:26 - William Altman on AI and threat actors
6:50 - Credential stuffing, brute force & reused credentials
10:00 - What small businesses can do right now
14:20 - The future of AI in cybercrime

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Cyberattack on Small Business: How AI Supercharges Cyber Threats | William Altman @CyberCube"
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