Whitepaper finds there has been a tenfold surge in AI lawsuits and notes that traditional insurance often fails to cover key risks from AI errors, hallucinations, and systemic faults.
The proposals would require agencies to set clearer standards for recommendations, give customers fuller explanations and strengthen internal oversight.
China's property insurance market is poised for a five-year expansion, with Hong Kong's Wang Fuk Court fire sharpening focus on the home insurance protection gap that insurers are racing to close.
