Insurance solutions provider Relm has launched three artificial intelligence (AI) liability solutions to address emerging risks in the AI ecosystem.
These solutions are intended to comprehensively cover companies that develop and deploy AI technology, as well as companies that utilize AI in more peripheral functions.
“The rapid advancement and widespread adoption of AI is creating a critical need for insurance solutions that specifically address the unique risks posed by the integration of AI into core technologies, systems, and workflows,” said CEO and CEO of Realm Insurance. said founder Joseph Ziolkowski.
He added: “Our aim is to provide clarity and confidence where traditional approaches fall short, enabling businesses to innovate with AI safely and responsibly.” added.
Relm says its NOVAAI product is ideal for AI platform companies and AI-based products and services companies that are at risk of liability or cybersecurity as a result of the AI software they develop and sell.
NOVAAI provides liability for AI technology products and services, media liability for AI-generated content, and AI regulatory liability coverage, as well as anti-discrimination carvebacks, AI regulatory liability coverage, and “deepfake” digital crime coverage.
According to Relm, companies that use or create AI and may be liable for damages caused by AI (current insurance policies likely do not cover AI-related issues) will It is said that there is a possibility of benefiting from PONTAAI.
This product covers AI liability arising from professional negligence, intellectual property infringement, personal injury, discrimination, invasion of privacy, personal injury, property damage, and breaches of AI regulations.
RESCAAI is suitable for organizations that use third-party AI in their business operations or that incorporate third-party AI solutions into their products.
Covers business interruption, reputational damage, product recall costs, and incident response costs.
Claire Davey, Head of Product Innovation and Emerging Risks at Relm, said: “We recognize that AI risk is not homogeneous. How an organization uses AI technology plays a key role in shaping the risk vector.” That’s why we’ve released a suite of three products specifically designed to address a variety of technology use cases. ”
