Overview
On September 27, 2023, Leader's Edge quoted Tod Cohen in an article titled "AI Risks and Coverage Evolution." The article discusses risks associated with law firms using AI tools, and how that risk evolves from errors and omissions to more specific issues, such as data collection.
Tod said: "Any time there's a new technology, the risks first go into the errors and omission insurance lines. That's where cyber insurance came out of. Originally, it was part of E&O, and then it became its own line because it was divisible across industries. Everyone was adopting technology. There's no company that doesn't have a website. Right now you're seeing a similar new technology that will come out of E&O. It may stay within cyber, but my guess is—and because it's a different type of technology—it'll become separated in its own line."