Claims arising from GenAI covered: TCS CFO Samir Seksaria

BENGALURU: TCS CFO Samir Seksaria stated that the company is adequately covered for any risks and liabilities that might emerge from projects deployed leveraging GenAI.

“Given its initial stage, GenAI is not increasing the overall risk materiality from that perspective. We have adequate cover both from an errors and omissions (insurance) perspective and a D&O (directors and officers insurance policy), as well as from asset coverage too. Structurally, these are risks that are taken care of by the project management team, and our legal team is involved in looking at what the exposures could be, and we continue to mitigate them. Insurance is just a fallback to it,” he said. Errors & omission insurance protects businesses and their employees from negligent actions from clients.