SHOCK MOMENT: AI Execs Asked 'Raise Your Hand If Your Company Has Insurance For Catastrophic Risk'

Summary This video shows testimony before the New York City Council on October 5, 2026, where a council member questions representatives from OpenAI, Meta, Google, and another AI lab during a hearing titled "Top Tech Executives Testify on AI Threat to the New York City Council." The council member asks the executives whether their companies carry catastrophic risk insurance and whether they can swear under oath that their AI agents will always comply with safety guardrails to prevent catastrophic harm.

What is shown

• [00:00] The New York City Council speaker asks the panel of four tech executives via video link to raise their hands if their company holds insurance for catastrophic risks.
• [00:09] The video conference screen shows four executives (including Morgan Dwyer of OpenAI and Shane Cahill of Meta), none of whom raise their physical hand; the speaker notes that none appear to have such insurance.
• [00:26] Google's representative (Ms. Friend) clarifies she does not know the answer regarding catastrophic insurance and will consult legal counsel.
• [00:36] Shane Cahill of Meta raises a virtual Zoom hand.
• [00:41] The speaker asks each executive to state under oath whether their AI agents will always adhere to safety guardrails designed to prevent catastrophic harm.
• [01:06] Morgan Dwyer (OpenAI) states OpenAI evaluates systems across safety dimensions and monitors safeguards, but cannot guarantee any technology is without risk.
• [02:05] Mr. Graham responds that defining safety standards is fundamentally hard and scientifically unsettled, acknowledging things can go wrong.
• [02:58] Shane Cahill (Meta) addresses his earlier raised hand, stating he does not know the insurance answer, and answers the guardrail question by emphasizing Meta's commitment to safety without guaranteeing 100% compliance.
• [04:18] Ms. Friend (Google) states that promising perfection is impossible for any market product, though Google's goal is to approach that standard through continuous improvement.

Claims & numbers

• Shane Cahill notes he had technical difficulties when trying to indicate a response during the insurance question [03:04].
• Ms. Friend claims promising perfection is impossible with any product on the market [04:26].

Notable quotes

• [00:01] "I'm going to ask you to please raise your hand if your company has insurance for catastrophic risks."
• [01:23] "It's not possible for me to commit or guarantee that any technology is without risk, but I can commit that OpenAI is taking every step it can..."
• [04:26] "To promise perfection would not be possible with any product on the market, but our goal is to get as close to that standard as possible."

Assessment This is an authentic news broadcast excerpt from a public government hearing recorded by Forbes Breaking News. It shows real-time unedited testimony where tech company representatives decline to guarantee absolute safety compliance and state they do not know whether their firms hold catastrophic risk liability insurance.

Described by gemini-3.8-flash on 2026-10-05 from the video's audio and frames.