Chaucer and Armilla AI launch third-party liability product
ReutersApr 23, 2025 11:18 AM
By Michael Jones
April 23 - (The Insurer) - Chaucer and Armilla AI have launched a standalone third-party liability insurance product which aims to address the risk of mechanical underperformance of AI systems and models.
The Chaucer-led product is available to U.S. insureds with global territorial limits.
It will provide cover for hallucinations, model drift and other mechanical failures or deviations from expected AI behaviour, along with legal defence and liability protection for claims arising from this underperformance, the companies said.
Chaucer said it previously worked with Armilla on a warranty-style product that responded to broader market appetite for liability protection.
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