This episode of Financial Services Online discusses the risks Artificial Intelligence poses to insurers - particularly issues with professional indemnity, errors, and intellectual property misuse. It suggests the development of AI-specific insurance to tackle these risks. The Australian Financial Complaints Authority (AFCA) secures a win for RAA insurance regarding a discrepancy over a vehicle's location, leading to a claim denial. Opportunity arises for Australian investors with a micro-cap fund launched through an alliance between Mantis Funds and Balmoral Investors. Lastly, the episode covers issues with the Payday Superannuation scheme, suggesting stronger measures to address unpaid superannuation dues. Stay informed with Financial Services Online for more finance and insurance news.
