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.

AI to the Rescue for Cyber Insurers? Not so Fast, Says New York State

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“Artificial intelligence systems” (“AIS”) and “external consumer data and information sources” (“ECDIS”) can help insurers and companies, New York State regulators concede, but the technologies better not hurt “protected classes” or “perpetuate or amplify systemic biases that have resulted in unlawful or unfair discrimination,” warns the state in new regulatory guidance. Given the complexity of … Read more

Which Sectors Have the Highest and Lowest Cyber Insurance Penetration? A Survey from Sophos Has Answers

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The energy, oil/gas and utilities sector has the highest level of cyber insurance coverage, with 97% of surveyed organizations reporting policies (most of them standalone.) The lowest adoption of cyber security coverage is found in the “Central/federal government” and IT, tech and telecom sectors. To be sure, even with the lowest penetration, these two sectors … Read more

AI Cuts Cyber-Insurance Claim Processing Times By > 80%?

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So reports Venture Beat in a report on AI’s impact on cyber insurance, which also says the technology can dramatically accelerate risk assessments: “Cyber insurers are also looking to AI to reduce the time and costs of real-time risk assessments that can cost between $10,000 to $50,000 per assessment and take between four to six weeks to … Read more

Cyber Cat Bonds Hold Up in Secondary Market; More Expected

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Cyber cat bonds issued over the last year are trading above par, “(a)n indication that these bonds are sought after in the secondary market and have not seen spread widening, but in fact have seen spreads tightening,” Dirk Schmelzer, Head Portfolio Manager ILS/CAT Bonds and Partner at Plenum Investments AG, told Artemis, a provider of … Read more

1/3 of Ransomware Victims Did Not Recover Data Even After Paying Up

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In the world of cybercrime, few experiences are as frustrating as paying a ransom to recover stolen data only to remain empty-handed. This stark reality is highlighted in the issue of ransomware data recovery where recent studies reveal that 1/3 of ransomware victims did not recover data even after paying up. For individuals and businesses, … Read more

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