Liability Exposure Report

Ask Joy to read the contracts, insurance policies, and claim history already in your Knowledge Center and return a leadership-ready summary of where your biggest liability exposure sits, how material each area is, and what to fix first.

For General Counsel Risk & Compliance Officers CFOs & Finance Leaders Legal Operations
Sample prompt to Joy's Assistant

Read the contracts, insurance policies, and incident and claim history in our Knowledge Center and give me a leadership-ready summary of our biggest liability-exposure areas: where each one sits, how material it is, and what to do first. Cover [scope].

What it can look like

An illustrative example. Your output will reflect your own sources, data, and prompts.

Read the contracts, insurance policies, and incident and claim history in our Knowledge Center and give me a leadership-ready summary of our biggest liability-exposure areas: where each one sits, how material it is, and what to do first. Cover our North American commercial book and the last 24 months of claims.

Here's the leadership read from everything in the Knowledge Center — the contracts, the cyber and general-liability policies, and the incident and claims log. Five areas carry nearly all of the modeled worst-case exposure, and two of them are concentrated in your biggest accounts

Liability exposure summary: commercial book

Prepared for the July 30 board risk review · North American commercial book · claims window Aug 2024–Jul 2026

Across the commercial book and the last 24 months of claims, five areas account for nearly all of the modeled worst-case liability. Two of them — uncapped liability in legacy MSAs and broad customer indemnities — together carry more than 60% of the exposure and sit in your largest accounts.

Share of modeled worst-case exposure, by area

Uncapped liability (legacy MSAs)38%
Broad customer indemnities24%
Cyber / data-breach coverage gap22%
Open product-injury incidents11%
Auto-renewal / termination5%
Exposure areaWhere it comes fromMaterialityRecommended action
Uncapped liability14 legacy MSAs signed before 2023 carry no liability cap (Contract Repository)High — ~38% of modeled worst-case; a single enterprise claim could run to several times annual contract valueRecap the top five accounts by revenue at their next renewal, and add a 12-month-fees cap to the standard template
Broad customer indemnitiesEnterprise agreements indemnify “any claims arising from use,” well beyond negligenceHigh — ~24%, concentrated in the six largest accountsNarrow the indemnity to gross negligence and willful misconduct on renewal
Cyber / data-breach coverage gapCyber policy caps at $5M; two customer DPAs require $10M of coverage (Insurance Policies)High — ~22%, and the $5M gap is currently uninsuredRaise the cyber limit to $10M at the September policy renewal
Open product-injury incidentsThree unresolved injury reports tied to the Model X line (Incident Register)Medium — ~11%; reserves are set, no suit filed yetConfirm reserves with the carrier and get outside-counsel reads on the two older claims
Auto-renewal / terminationSeveral vendor MSAs auto-renew on 90–120 day notice windowsLow — ~5%; operational rather than catastrophicCalendar the opt-out deadlines now and standardize notice to 60 days

If you fix one thing this quarter, close the cyber coverage gap before the September renewal: it is the only exposure here that is currently uninsured, and it is a fixed cost to solve. The uncapped-liability MSAs are the larger number, but they resolve gradually at renewal, so start with the top five accounts by revenue. Everything below the product-injury incidents is housekeeping.

Want me to draft the board slide on these five areas, or pull the 14 legacy MSAs that carry no liability cap so you can start with the biggest accounts?

From scattered documents to a board-ready read

Point Joy at the contracts, insurance policies, and incident and claims history in your Knowledge Center and ask for the exposure summary. Joy reads across all of it and returns a prioritized read: where each exposure comes from, how material it is, and what to do about it.

  1. Bring your risk documents together

    Add your contracts, insurance policies, and incident and claims history to the Knowledge Center. Joy indexes all of it and keeps it current as new agreements and claims land.

  2. Ask for the exposure summary

    Tell Joy the scope — a business unit, a portfolio, a claims window — and ask for the leadership summary. Joy reads across the contracts, policies, and claims together, not one document at a time.

  3. Get the prioritized read

    Joy returns a ranked summary: the biggest exposure areas, where each comes from, how material it is, and the recommended action. Every area traces back to the source documents.

  4. Dig into any line

    Ask follow-ups: "Which MSAs carry no liability cap?" or "Draft the board slide on the cyber coverage gap." Joy answers with the full context behind the summary.

  5. Make it one click for your team

    Save this ask as a custom command on the assistant your team already uses, so anyone can run it in one step.

Make it yours

Ranked by materiality

Joy orders exposure areas by how much they actually matter, not by document order, so leadership sees the big risks first.

Traced to the source

Every area links back to the specific contracts, policy limits, and open claims behind it, so you can defend the ranking.

Coverage gaps surfaced

Joy compares your contractual obligations against your insurance limits and flags where you're exposed.

Follow-up ready

Ask Joy to draft the board slide, pull the underlying contracts, or model worst-case exposure on any line.

Business-unit exposure

Run the summary for a single division or subsidiary ahead of a leadership review.

Cyber and data risk

Focus on data-breach obligations and where DPA requirements outrun your cyber coverage.

Customer indemnity review

Summarize indemnity exposure across your largest customer agreements.

Pre-renewal exposure

Pull the exposure tied to contracts up for renewal so you fix the terms before signing.

Frequently Asked Questions

What is a liability exposure report?

A liability exposure report summarizes where an organization's biggest legal and financial risks sit — uncapped liability, broad indemnities, coverage gaps, open claims — and how material each one is. Joy assembles it on demand from your own contracts, insurance policies, and claims history so leadership can see the whole picture in one read.

How does AI summarize liability exposure across contracts and policies?

Joy reads the contracts, insurance policies, and incident and claims records in your Knowledge Center together, identifies the recurring exposure themes, ranks them by how material they are, and ties each one back to the source documents. You get a prioritized summary instead of a document-by-document review.

Can AI find gaps between our contracts and our insurance coverage?

Yes. Joy compares the obligations your contracts commit you to — required coverage limits, indemnities, data-breach terms — against your actual insurance limits and flags where the two don't line up, so you can see which exposures are effectively uninsured.

Does this replace a legal or risk assessment?

No. The summary is a fast, sourced read of what's in your documents to help leadership prioritize, not legal advice or a formal risk opinion. It points you to the exposures worth a closer look and the source material behind each one; your legal and risk teams still make the calls.

How does Joy decide which exposures are most material?

Joy weighs the potential financial magnitude, how concentrated the exposure is (a risk sitting in your largest accounts matters more), and whether it's covered by insurance or reserves. Uninsured, high-magnitude, concentrated exposures rank at the top; operational items rank lower. Every ranking traces back to the underlying documents so you can check the reasoning.

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