ASRM Seminar Series

Title: AI Risk – Regulation, Insurance, and Research

Abstract: The transformative power of AI introduces a new generation of liabilities, such as algorithmic bias, model hallucination, and systemic failures, which challenge traditional risk management frameworks. This seminar delves into how the insurance and broader risk transfer market is evolving to address these novel perils and serving as a critical lever for promoting responsible AI.

We will first navigate the complex and rapidly evolving regulatory landscape, from the EU AI Act to state-level laws in the U.S., which are creating a new compliance environment for insurers and their clients. The discussion will then delve into the practical frontier of underwriting and modeling AI risk, exploring how the industry is developing new policies, pricing novel perils like algorithmic bias, and using data from active litigation to inform coverage. Finally, we will identify the pivotal research gaps that must be addressed—particularly in understanding systemic exposure and refining actuarial models—to build a sustainable market for managing AI risk and ensuring its responsible adoption.

Speaker’s Bio

Kevin Kalinich: As the Founder of Aon’s Cyber Solutions Group, Kevin Kalinich customizes emerging technologies insurance solutions on behalf of complex digital/intangible assets/professional services dependent organizations to address perils regarding artificial intelligence, IoT/5G technologies, robotics, quantum computing, blockchain, autonomous AI systems, media and cyber. An eight-time Risk & Insurance "Power Broker" (2007, 2008, 2009, 2010, 2011, 2014, and Finalist in 2012 and 2016), Kevin authors publications including "Cyber Insurance For Law Firms and Legal Organizations," featured in The American Bar Association Cybersecurity Handbook: A Resource for Attorneys, Law Firms, and Business Professionals (2nd, 3rd & 4th Editions).  Quoted with Berkshire Hathaway head of insurance, Ajit Jain, in the book, Lights Out: A Cyberattack, A Nation Unprepared, Surviving the Aftermath (Ted Koppel, 2015). Kevin testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs—Subcommittee on Securities, Insurance, and Investment at the hearing on "Guardrails and Growth: AI's Role in Capital and Insurance Markets" (July 30, 2025), providing guidance on AI risk management and insurance market implications. Kevin periodically consults with senior government officials, including the Executive Office of the U.S. President (Office of the National Cyber Director June 3, 2024), U.S. Department of Treasury's Federal Insurance Office (September 24, 2024), and Lloyd's of London Lab AI Launch Pad (October 29, 2024), in addition to advising The National Association of Insurance Commissioners regarding artificial intelligence risk frameworks and market innovation.  He advised the U.S. Department of Homeland Security regarding insurance issues with respect to the Support Anti-terrorism by Fostering Effective Technologies Act (“SAFETY Act”) and advised the US Department of Treasury in connection with the 2017 “Notice of Guidance” regarding clarification of cyber insurance coverage applicability to the Terrorism Risk Insurance Act of 2022 (“TRIA”).

Jesus Gonzalez: Jesus Gonzalez is the Intangible Assets Global Collaboration Co-Leader in Aon's Commercial Risk Group, where he represents global technology clients and serves as the Regional Cyber Champion for Latin America. A U.S. patent holder in network security, he brings over a decade of prior leadership experience at Motorola and Nokia Siemens Networks. Jesus is a recognized thought leader as a 2025 AI 2030 Senior Fellow and a co-author of the 2024 Aon Ponemon Global Report on AI. He holds a Computer Science degree from the University of Illinois, an MBA from the University of Chicago Booth School of Management, and a Cybersecurity Oversight certificate from Carnegie Mellon.