Balancing Innovation with Regulation: The Insurer’s Regulatory Role

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ID: 328746
2026
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Abstract
Abstract This chapter examines the regulatory role of insurers in AI governance. It argues that insurance does more than compensate loss: through underwriting, pricing, exclusions, warranties, audits, claims management, and reinsurance, insurers translate legal and ethical expectations into operational conditions of deployment. Drawing on the Gulf crisis and other analogies, the chapter shows how insurance markets can reshape commercial feasibility without formal legal prohibition. It then situates AI insurance within wider public regulation, technical standards, and private governance, stressing that insurers are both regulators and regulated users of AI. While insurance can incentivize safer design, its governance capacity is limited by immature data, opaque systems, correlated and systemic risks, exclusions, affordability problems, and fairness concerns. The chapter concludes that AI insurance should complement, not replace, public regulation, and must be supported by better risk data, clearer wording, proportional standards, and institutional coordination.
Reference Key
openalex_W7213422574 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Feng Wang
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Journal Oxford University Press eBooks
Year 2026
DOI
10.1093/law/9780198953586.003.0008
URL
https://doi.org/10.1093/law/9780198953586.003.0008
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