The Contingency Business Panel met on 20th May 2026 to discuss market developments, wording initiatives and claims-related issues. A key focus was the ongoing working group reviewing AI coverage and exclusions for US media business. Members debated whether to adopt the EU definition of AI, considered potential exposures across contingency products, and discussed whether AI-related operator error should be addressed through exclusions, agreeing that further legal input was required. The panel also reviewed industry engagement activities, including the IUA Contingency Working Party and plans for a new London contingency conference later in the year. Claims discussions centred on the introduction of mandatory claims cause codes, enabling more consistent analysis of losses such as non-appearance, communicable disease, adverse weather and contractual disputes. Members further examined the growing use of Middle East exclusions, highlighting concerns over inconsistent wording, potential issues arising from fuel shortages and flight cancellations, and the need for legal guidance. A working group was established to explore standardised exclusion language across territories.