OpenAI and Anthropic are considering using investor funds to settle potential claims from multibillion-dollar lawsuits, as insurers balk at providing comprehensive coverage for the risks associated with artificial intelligence.

The two US-based AI start-ups have traditional business insurance coverage in place, but insurance professionals said AI model providers will struggle to secure protection for the full scale of damages they may need to pay out in the future.

OpenAI, which has tapped the world’s second-largest insurance broker Aon for help, has secured cover of up to $300 million for emerging AI risks, according to people familiar with the company’s policy.

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