The emerging AI liability market: A brief timeline
2018
A reinsurance company introduced a performance guarantee product targeting Al developers and enterprises deploying internal Al for credit scoring, fraud detection and manufacturing quality assurance.
2020
A London market insurer launched a product combining technology E&O, product liability and healthcare professional liability, specifically for life sciences companies.
2021
An international insurance company launched a cyber policy endorsement for data poisoning risks, usage rights infringement and regulatory violations under frameworks such as the EU AI Act.
A US MGA and cybersecurity firm introduced two Al-related endorsements to cyber policies covering Al-caused security failures and deepfake-enabled fraud.
2022
Lloyd's syndicate added affirmative Al coverage to its tech PI policies, explicitly covering liability from Al-driven software failures and model errors.
2023
Two Lloyd's coverholders expanded into third-party liability coverage for Al deployers.
