The Contingency Business Panel met on 22 July 2026 to discuss market developments, policy wordings, claims data and underwriting trends. Members reviewed the growing use of AI exclusions within US professional indemnity policies but agreed that, for contingency business, existing cyber exclusions generally address AI-related risks, and no immediate action was required. The panel also discussed ongoing work on war exclusions and fuel shortages, with legal analysis continuing and a further update expected in September. Concerns were raised regarding the application of public sentiment clauses, particularly where broker wordings were being attached to policies for exhibitors or hospitality businesses without being tailored to the insured’s role, potentially creating coverage gaps. Members highlighted ongoing issues with broker premium processing, incorrect risk coding and data quality, which affect reporting accuracy and operational efficiency. The committee also discussed developing a claims dashboard with Velonetic, wildfire and air-quality related exclusions, and the increasing use of probable maximum loss (PML) based sums insured in contingency policies.