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.

The “Reese’s Peanut Butter Cup” Cyber Insurance Strategy: Combine Insurance with Anti-Ransomware Software

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The solution comes from TechAssure, a non-profit consortium of insurance and risk mitigation companies, which has teamed with RiskAnalytics and ICE Cybersecurity to provide the program. “The missing piece in cyber insurance has always been proactive protection of cyber insureds,” said TechAssure Executive Director Garrett Droege in a press release. “Many companies offer cyber security … Read more

The Squeeze Between Ransomware and Business Interruption Insurance

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Cyber insurance companies may urge clients to pay ransoms because insurance losses from not paying may be more than the ransom demand. “(E)ven when companies do want to hold out, insurers may be pressing them to pay. Since they tend to cover both ransomware payments and business interruption due to ransomware attacks, if the costs … Read more

Consortium of Leading Cyber Insurance Carriers Creates New Company to Coordinate on Cyber Market

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The companies are: AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers. The mission of newco CyberAcuView is:  “to (1) help the insurance industry provide better value and service for policyholders in their cyber risk mitigation; (2) provide leadership in addressing cybercrime and increasing resilience to cyber risk; and (3) help ensure a … Read more

Cyber Insurance Industry Is Struggling. Here’s How to Fix It, Suggests UK Security Think Tank

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The insurance industry has failed to keep up with the cyber risk environment, says the Royal United Services Institute for Defence and Security Studies in a June 2021 report. It offers 10 suggestions, which we include below with some UK-only information, such as specific government agencies, removed. CNI readers will note the suggestion, seen more … Read more

Cybersecurity Increasingly Important for Credit Ratings: S&P 

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Yet another dimension of the cyber threat is the impact of public and commercial enterprise cybersecurity on credit ratings. “At S&P Global Ratings, we have seen more credit-relevant cyber events in the last six months than in the previous six years, and we routinely reflect on recent cyber developments to sharpen our focus and to … Read more

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