Despite attention-grabbing deep fake fraud, cyber insurers are mostly focused on previously existing cyber risks like phishing attacks. Still, technology advances such as AI mean businesses have to think about technological defenses and what coverage they need. In March, Coalition, a cyber threat insurance company, added an Affirmative AI Endorsement to its coverage. The endorsement reimburses policyholders for losses due to fund transfer fraud, cybersecurity failures and related issues. Digital Insurance spoke with Tiago Henriques, vice president of research at Coalition, about how businesses and insurers can use the latest available technology to defend against ever more sophisticated cyber attacks.
This interview has been edited for length and clarity.