Mark Sauter

Mark Sauter's insights on the financial, policy and security elements of cyber insurance are based on years of experience in the investment banking, media and business worlds. Co-author of the McGraw Hill university textbook "Homeland Security: a Complete Guide," Sauter was also a consultant to one of the world's largest software companies and served as a US Army Special Forces and infantry officer.

What’s the Price of Reputational Damage for a Company Hit By a Major Breach? Beazley Cyber Exec Says Insurers May Find Out This Year 

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“(Beazley Head of Cyber Services Raf Sanchez) explained that this is because many incidents are notifiable not just to regulators but often must be disclosed to clients (who have inserted mandatory notification obligations into supply contracts). He also said that Beazley expects an increase in D&O claims linked to cyber-attacks in the coming year and … Read more

French Start-Up Stoïk Combines Insurance with Monitoring: Similar to Coalition But With a Twist

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Just raised $4.3m seed round (see investors via link below) “Stoïk works a bit like Coalition in the U.S., except that it doesn’t partner with brokers to distribute its insurance product. The French startup wants to build a direct relationship with its customers.” Source: Stoïk combines cyber insurance products with active security monitoring | TechCrunch

Who’s Paying the Most for Cybersecurity Insurance? Advisor Smith reports Highest Cyber Insurance Premiums by Industry, Plus State Info 

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Good summary, linked at bottom, from @ElanaAshanti based on detailed research from Adrian Mak @AdvisorSmith. We view the data as indicative/directional due to cohort of companies* analyzed (see below). Top 5 industries by cost of cyber insurance* for a small business, according to Advisor Smith analysis: Payment Processing $2,449 Financial Services (other) $2,429 Investment Services … Read more

More Companies Call the Lawyers First After Cyber Attacks — But Does This Weaken Responses to Breaches? 

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“While the strategy may protect companies in the case of a lawsuit, since much of a legal firm’s research would be considered privileged information, the legal layers also make the collection of breach data more difficult, says (Josephine Wolff, an assistant professor for cybersecurity policy at Tufts University’s Fletcher School of Law and Diplomacy). Wolff … Read more

Business Interruption Among Topics in Insurance Journal’s Top Cyber Stories of 2021

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“According to (Procor Solutions and Consulting’s Chris) Mortifoglio, who is a Certified Public Accountant and a Certified Fraud Examiner (CFE), understanding the ‘nuances and differences’ of a cyber insurance business interruption exposure or claim situation compared to a traditional one is more important now than ever.” Source: Insurance Journal’s Top Cyber Stories of 2021

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