AI AND YOUR PROFESSIONAL LIABILITY by Sonyia Townsend, CPLP, AU, RPLU, Arlington / Roe
One of the best parts of working in insurance is that no day is the same as the last. Coverages evolve, carriers change their appetites, and new exposures continually emerge. As they say, the only constant is change— and nowhere is that more apparent today than in technology.
Artificial intelligence is rapidly changing our world and will continue to do so over the next several years. While AI offers tremendous opportunities, it also brings new risks that businesses, insurance professionals and carriers need to understand.
AI IS ALREADY CHANGING THE INSURANCE INDUSTRY
AI is helping the insurance industry in countless ways, from reading applications and policy forms and comparing coverage, to assisting with underwriting and rating accounts. AI can also play a role in the claims process on both the carrier and policyholder sides.
At this point, the potential uses of AI seem almost endless.
With AI becoming so widely used not only in insurance, but across nearly every industry, an important question arises: What does this mean for insurance coverage?
WHAT ABOUT PROFESSIONAL LIABILITY?
For professional liability policies, AI exclusions have
4 KANSAS INSURANCE AGENT & BROKER