The cover
Cover, built on the receipt.
We are designing cover for the actions that pass through the Gate, with the signed receipt as the evidence. It is the last piece, and the reason for the first two.
Planned, not sold today. Durward does not sell, bind or arrange insurance, and nothing on this page is an offer of insurance.
The risk is real. Cover is being narrowed.
12
months of fees
is where most AI vendor agreements cap total liability, including indemnification.Most agreements cap total liability, including indemnification, at 12 months of fees
Honigman LLP, The AI insurance gap Read the source
CG 40 47
optional endorsement
Verisk's general liability exclusion for generative AI, effective January 2026.Effective January 2026
Independent Agent, on Verisk's CG 40 47, 21 Oct 2025 Read the source Several carriers have asked regulators to approve new exclusions of their own.have each asked regulators to approve new exclusions
beinsure, 2 Feb 2026 Read the source
How it is meant to work
A claim that starts with the evidence.
Some claims can turn into long arguments about what happened. Ours would begin with a receipt that already says it. This is a draft design, for a carrier and counsel to shape.
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The action passes the Gate
It is classed, decided under a versioned rule, and signed.
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Something goes wrong
A refund that shouldn't have gone out. A table that shouldn't have been dropped.
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A claim would be filed with receipt ids
The signature, its place in the log, the rule, the approval and the cover in force are all on the record, so they can be checked together.
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It is meant to pay on the receipt
Under a licensed carrier's wording: named actions, named limits, and the receipt as proof. Nothing here is cover today.
Designed for the bad day
When one change hits everyone at once.
A single model update or a shared tool can make many machines go wrong in the same hour. We are designing for it from the first line of the wording.
- One event, one windowLosses from one common cause, inside a set number of hours, would count as one event with its own limit.
- Every receipt names the modelThe exact version that answered, so exposure to any one model can be measured in hours, not guessed after the fact.
- Our own rules are a named riskA bad release of our own classifier would be written in as a cause of its own, not left for an argument later.
The rating
Better controls, a better price, once cover exists.
We don't certify anyone. Accredited auditors do. We plan to produce the evidence they check, from the same receipts, and the controls a team runs are meant to shape how its risk is priced, once cover exists.
AIUC-1 D003
"Restrict unsafe tool calls"Restrict unsafe tool calls
AIUC-1 standard, Reliability Read the source
Every held and blocked action, with the rule that held it.
AIUC-1 E015
"Log AI system activity"Log AI system activity
AIUC-1 standard, Accountability Read the source
A signed receipt for every decision, in a log designed to only grow.
ISO/IEC 42001
A risk based management systemISO 42001 takes a risk-based approach in applying requirements to better regulate your AI use
Schellman, on the ISO/IEC 42001 certification process Read the source
Planned: we intend to map receipts to the controls this standard asks a management system to evidence.
Planned. The mapping is our reading of the public standards, not an endorsement by either body.
The route
To underwrite is to sign your name.
The old meaning is the plainest one: to agree to pay by signing your name.To agree to pay by signing one's name
Wiktionary, underwrite Read the source We sign every action first, so the signature on the cover has something to stand on.
- Lloyd's coverholderOur planned route is to become a coverholder, a firm authorised to enter into insurance on behalf of Lloyd's underwriters.
authorised to enter into a contract of insurance on behalf of a Lloyd
Lloyd's, Become a Lloyd's partner Read the source - Lloyd's LabSeparately, we plan to apply to the Lloyd's Lab accelerator, which runs over ten weeks.
Over ten weeks
Lloyd's Lab accelerator Read the source Neither has happened yet. - Software until thenUntil a carrier and the licences are in place, Durward is software only: the Gate and the receipt.