Counterpart, a managing general underwriter, on Monday said it has introduced expanded affirmative artificial intelligence coverage and a new technology errors and omissions insuring agreement under its miscellaneous professional liability product.
The new coverage provides protection for AI-generated mistakes, decision errors and biased outputs and uses language for emerging AI-related claims, including hallucinated reports, misclassified exposures and flawed hiring recommendations.
Underwriting is based on more than 2,000 data points used to evaluate governance, compliance and responsible AI use.
Policies are backed by insurers and reinsurers including Aspen, Markel and Westfield Specialty.