It’s getting insurers worried. Corporate litigation in the US is on the rise, with the average award against a corporate defendant in the US rising

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It’s getting insurers worried. Corporate litigation in the US is on the rise, with the average award against a corporate defendant in the US rising from $41.7mn in 2023 to $65.7mn in 2024. Companies were levied a total of $40bn in damages in 2024.B-2-B litigation and IP disputes are taking centre stage, producing large pay-outs. Creating a trend that is concerning insurers, and that’s before you add in the AI effect.John Dacey, chief financial officer of Zurich-based Swiss Re, on Thursday said “the terrible experience we and everyone else in the market has had” had deterred them from writing US corporate liability policies. He added, “we don’t see an end in sight”.Add into this the use of AI to develop products and services. Given the generative approach to AI and use of general pools of data. Companies should know if IP being created by an organisation is authored solely by the company, or not. unless you block the use of AI?All of this is creates a conundrum for corporate and insurers.@Thaddeus Dziekanowski Brian D. McCarthy Faisal KhanVeritas GRC#artificalintelligence #cybersecurity #cyberriskmanagement #intellectualproperty

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