Three more carriers say AI-driven cyber losses are covered, and one calls AI a risk amplifier
QBE global head of cyber Serene Davis told Cybersecurity Dive the insurer is "continuing to support coverage for cyber risks and claims arising out of AI, not retreating from them" and that "AI is treated as a risk amplifier, not a fundamentally new cyber risk." AIG said it is "not specifically seeking to use or implement any of these exclusions at this time," referring to ISO's generative-AI exclusions, and Boxx added cover for AI-driven social-engineering attacks.
Cyber underwriters say they are reworking policy language for autonomous AI agents
MSIG USA's head of cyber for North America, Ryan Kratz, says that as AI becomes capable of identifying vulnerabilities and carrying out attacks autonomously, carriers will need to continually review policy language, while QBE's global head of cyber, Serene Davis, says AI is treated as a risk amplifier rather than a fundamentally new cyber risk. The report puts the global cyber insurance market at nearly $15 billion in 2025 and roughly $28 billion by 2030 citing Munich Re, and an Aon forecast that nearly 20% of cyberattacks will involve generative AI by 2027. No filed endorsement or exclusion is reported.