The claimant allegedly relied on ChatGPT-generated legal guidance and filings, forcing the insurer to incur significant legal costs despite a previous settlement agreement.
Market participants flag that DIFC facility may lead to potential withdrawal of private insurers, while operational risks could continue to restrict vessel movements in the Strait of Hormuz.
Most regional holdings are investment-grade, with roughly 98% rated ‘A’ or higher, helping limit potential credit risks despite market volatility linked to the ongoing conflict.
An internal probe found 11 secondees across seven agencies removed 379 items of operational data, prompting tighter controls and one-month voluntary pay cuts for senior executives.
