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Major AI firms lack catastrophic risk insurance, NYC Council hearing reveals

Representatives from OpenAI, Anthropic, Google, and Meta remained silent when asked by New York City Council Speaker Julie Menin if their companies carry insurance against catastrophic AI risk.

A woman speaking at a microphone during a New York City Council hearing titled 'Top Tech Executives Testify on AI Threat to the New York City Council'.
Image: @coinbureau

During a New York City Council hearing examining artificial intelligence threats, representatives from OpenAI, Anthropic, Google, and Meta did not confirm holding insurance against catastrophic AI risk, according to Coin Bureau. Council Speaker Julie Menin asked the company representatives to raise their hands if they carried insurance against catastrophic risk, but none did.[1]

The testimony occurred during an October 5, 2026, council hearing titled by Forbes Breaking News as top tech executives testifying on the threat posed by AI. Crypto Briefing reported that the absence of insurance coverage for catastrophic AI risks could leave AI firms facing significant financial exposure and could also influence future regulatory actions.[1][2]

Key facts

  • New York City Council Speaker Julie Menin asked representatives of OpenAI, Anthropic, Google, and Meta to raise their hands if they had catastrophic AI-risk insurance.
  • None of the representatives from OpenAI, Anthropic, Google, or Meta raised their hands or confirmed carrying catastrophic risk insurance.
  • Forbes Breaking News footage dated October 5, 2026, documented tech executives testifying before the New York City Council on AI threats.
  • Crypto Briefing reported that the lack of catastrophic AI risk insurance could create significant financial exposure for AI companies.
  • Crypto Briefing noted that the insurance gap could influence regulatory actions.

Sources 路 2 sources

  1. CB

    Coin Bureau@coinbureauPost on X 路

    馃毃SHOCKING: Not one AI giant says yes when asked if it's insured against catastrophic risk. OpenAI, Anthropic, Google and Meta representatives went silent when NYC Council Speaker Julie Menin asked them to raise their hands if they had that insurance. https://t.co/bAcuryTHwF

    Open source
  2. CB

    Crypto BriefingArticle 路

    OpenAI, Google, Meta, Anthropic lack insurance against catastrophic AI risk The lack of insurance for catastrophic AI risks could lead to significant financial exposure for AI firms and influence regulatory actions. The post OpenAI, Google, Meta, Anthropic lack insurance against catastrophic AI risk appeared first on Crypto Briefing .

    Open source