Patrick Tiernan: War risk is being rewritten

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“As there is more drone warfare, more artificial intelligence in the decision making, we’re going to have to completely reimagine how we cover [war]” Business presenter Felicity Hannah speaks to Patrick Tiernan, who runs the 337-year-old insurance marketplace, Lloyds of London. He says that autonomous weapons and AI-driven decision-making could change how conflict risk is calculated and insured, because traditional assumptions about how wars escalate may no longer hold. He says the current risk environment is unlike anything in his company’s long history, and that a major state-backed cyber-attack remains one of their realistic disaster scenarios. Thank you to the BBC Big Boss team its help…