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.

Can the Existence of a Risk Management Program for Cyber Insurance Also Provide Legal Protection?

by

The dawn of SEC-required cyber disclosures seems sure to increase litigation, as we’ve reported. Could the kind of cyber risk management now required by most cyber liability insurers provide some protection from the plaintiff’s bar? Liberty Mutual thinks so. “Cyber risk management strategies can help mitigate the likelihood of falling victim to an attack; but … Read more

Clorox Has Cyber Insurance to Pay at Least Some of the $25 million & Growing Hit from its Ransomware Attack

by

“Clorox so far has spent $25 million to respond to a suspected ransomware attack, including hiring forensic investigators and legal and technology help. More cyber expenses are expected to arise in 2024, the company said,” according to this Wall Street Journal report (paywall may apply).  From the Clorox 8K of 10/4/23. “Cybersecurity Attack Costs Beginning in … Read more

Cowbell Announces Layoffs Amid Challenges in Cyber Security Market

by

Cowbell, which offers an AI-driven cyber insurance platform for small-and-medium businesses, has been one of the most high-profile players in the emerging cyber insurance industry. The company has ramped up clients and revenue rapidly while attracting large investments. But Cowbell has now announced layoffs. “I am announcing a 12% reduction of our current workforce, which … Read more

Major Debt Issuers Relatively Indifferent to Cyber Insurance Premium Hikes: Moody’s

by

Moody’s, the credit and risk rating company, surveyed 1,700 people from debt issuers representing $80 trillion in outstanding debt across “71 global sectors.” “Despite the higher cost of cyber insurance, only 3% of issuers said they planned to buy less cyber coverage in 2023 than in 2022. The vast majority (82%) plan to purchase about … Read more

Half of Cyber Insureds Improve Their Security As Part of Getting Policy: Survey

by

The cyber insurance industry has long asserted that its underwriting processes, combined with security tech embedded in policies or supplied by third parties, will improve their clients’ security and impact the broader economy. Some carriers have provided statistics on breaches that appear to support the proposition. Cyber security company Netwrix tested this with a survey … Read more

×