All answers
Security & compliance Open question — the Lab is working on this

Should firms talk to their insurance providers about AI use and 7216, and does this affect cyber coverage?

56:52From the June 24 call · New IRS and AICPA AI Guidance: 7216, Billing, and Disclosures

It was raised as an open question whether anyone had spoken with an insurance provider about how AI use and 7216 consent interacts with their coverage agreements — it's expected that these agreements will need to change as firms use AI more. It was also flagged that firms should specifically discuss cyber coverage with their insurance providers, since using AI can open up potential vulnerabilities/holes in the organization that may not be covered under existing policies.

The full answer is members-only

Membership is free. Apply and get this answer, the recording, and the rest of the library.

Apply to join

Already a member? Sign in