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Policy & Regulation
Silent or affirmative - the AI coverage debate reshaping Canadian cyber placements
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Summary
In January 2024, an Arup finance employee in Hong Kong authorised US$25.6 million in transfers after an AI-generated deepfake video call. Insurance Business reports that whether a loss of that kind would be covered under a typical Canadian commercial cyber policy remains unsettled. The article describes competing silent and affirmative AI coverage approaches and cites a recent Ontario Court of Appeal decision as a reminder that policy wording can determine which terms govern a cyber claim.