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.

Feds Relaunch Cybersecurity Insurance and Data Analysis Working Group (CIDAWG)

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The Cybersecurity and Infrastructure Security Agency (CISA) release announces a new partnership with Stanford’s Empirical Security Research Group and focuses on analyzing the effectiveness of security controls, with a focus on ransomware. The effort begins in December. “CISA will ask working group members to collaborate with Stanford to improve analysis of the aggregated, anonymized loss … Read more

Cyber Insurance At Sea

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Marine insurance provider The Swedish Club will begin offering members maritime cyber insurance in 2024. The offering marks another addition to sector-specific cyber underwriting. “When port states and coast guards around the world start asking about cyber risk mitigation and resilience – and they already are – our member shipowners can show them a Cyber … Read more

Biden Admin Official Waffles on Potential Federal Backstop for Cyber Insurance Industry, But Implies One May Be Coming with Guidance by Year’s End

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In recent comments, Graham Steele, Assistant Secretary for Financial Institutions at the US Treasury Department, admitted that “waiting (to launch a federal backstop of the cyber insurance industry) until after a catastrophic cyber incident occurs is sub-optimal for everyone,” but provided no clear guidance on where the government stands or when it will act (it’s … Read more

Fears of Massive Cyber War Losses are Overblown: Catastrophic Risk Expert

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We’ve reported extensively on the insurance industry’s fear of “cyber war;” debate over exclusions for state-backed, systemic cyber attacks; moves by governments to backstop the cyber insurance industry for massive attacks; and the challenges of current modeling of risk accumulation and catastrophic cyber events. Now comes a contrarian view from a leading cyber risk risk … Read more

You’re Measuring Systemic Risk all Wrong, InsuranceERM Tells Cyber Insurance Industry

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We’ve reported extensively on the challenges of the cyber insurance industry in modeling systemic risk and the related accumulation risk (insurance risk of multiple, unanticipated claims from the same or related events, such as a large cyber attack.) InsuranceERM, a provider of news and information on insurance and risk, suggests the industry is using a … Read more

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