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Workshop: "Insuring the Uninsurable" at FU Berlin (June 2023)

News from Jun 05, 2023

As a follow-up to the previous workshop held at King's College London in 2022, a workshop had to be dedicated to issues like 'legal personality', 'intention', 'causality', 'liability', and how these legal concepts can match with the issues taken into account in the insurability of emerging risks above.

The workshop aimed at exploring emerging risks and their insurability. This concerns new risks such as nanotechnology risks, terrorism risks, cyber risks and risks brought about by automated systems (e.g. automated vehicles). In a broad sense, emerging risks include classical risks that have become more profound and less predictable due to climate change, for instance insuring storm and flood risks, earthquakes or bushfires.

The question was pursued if AI will help to make so-called 'uninsurable' risks insurable and in some instances, e.g. automated vehicles, how insurance can be available. And if insurance is available through AI, the overall price (in the non-pecuniary sense) that the insured will have to pay has to be assessed. This last matter concerns the socio-legal implications of the use of AI in the insurance sector.

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