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.

Want Your Cyber Insurance Claim Paid? Sue Us, CNA and Starr Tell Sinclair Inc.

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The local news is not good for broadcaster Sinclair Inc. (Nasdaq: SBGI), a Fortune 500 company known for the 185 television stations it owns or operates across the US. The company is suing two of its cyber insurance providers, claiming the Continental Casualty Company (or “CCC,” the principal subsidiary of CNA) and Starr Indemnity & … Read more

SEC Hits Firms with Millions in Fines for Inadequate Cyber Disclosures; Sparks Dissent on Commission

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Four companies have settled charges by the Securities and Exchange Commission (SEC) that they made “materially misleading disclosures” after being breached in 2020 by the SolarWinds’ Orion software hack (US public companies have been required to disclose material cyber events since last year, see this.) But two of five SEC commissioners dissented on the charges, … Read more

Cyber Insurance & Lawsuits: It’s a “Race” to the Courthouse for Cyber Litigation

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Thought the risk of being sued for a cyber breach was already high? It’s getting worse, Carolyn Purwin Ryan, a partner in Mullen Coughlin LLC’s data privacy and cybersecurity practice, told viewers during a recent webinar. Ryan noted that cyber breaches requiring the notification of >10,000 individuals often triggered a class-action lawsuit. But weeks ago … Read more

American Water Won’t Discuss Cyber Insurance as Huge Utility Recovers from Cyber Attack; Hack Follows USG Warnings About Threats to Water Utilities

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The “largest regulated water and wastewater utility company” in the United States, American Water, is recovering from a cyber attack that forced it to pause billing services for its 14 million customers. While the company says it’s retained 3rd-party cyber experts to help with the response, a spokesman declined to respond to Cyber Insurance News‘ … Read more

EXL Reports its New Insurance AI LLM is 30% Cheaper and More Accurate than Generic AIs — and Compliant

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We’ve been telling you about the theats posed to cyber insurers by AI — now the technology is coming to help, in the form of a vertical AI from EXL (NASDAQ: EXLS), the data analytics company. The company’s new “EXL Insurance LLM” is a specialized large language model (LLM) tailored for the insurance industry and … Read more

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