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.

SEC Reveals Its Cyber Reporting Rule, Scrambling and Confusion Sure to Follow 

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The U.S. Securities and Exchange Commission (SEC) has issued its new cybersecurity rule, which aims to enhance transparency and accountability in managing cyber risks. The rule requires businesses to promptly report any material cyber breaches within four business days. Additionally, companies are obligated to disclose their processes for managing cybersecurity risks. The SEC asserts this … Read more

Resilience Bags $100 million D-Round from Venture Capital Funds; Reports All Its Clients Avoided Ransom Payments in 2022

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The round adds to $225 million already raised by the company. The round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, with participation by Lightspeed Venture Partners, General Catalyst and Founders Fund. “’Securing a digital world at enterprise scale requires fundamental behavior change,’ said Arif Janmohamed, Partner at Lightspeed Venture Partners, … Read more

Insurance for Catastrophic State-Backed Cyber Attacks? Lloyd’s Exclusions Continue to Confuse Markets As Other Insurers Struggle With Their Own Strategies 

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When Lloyd’s provided updated guidance and exclusions for nation-state cyber attacks, some industry players and news outlets concluded the organization intended to jettison all such coverage. Not so, Lloyd’s said earlier this year, asserting it wanted to ensure such coverage was distinguished from general cyber insurance and its risk was properly priced. But customers continue … Read more

Major Cyber Incidents Cut Shareholder Value by 9%: AON 

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Along with additional (and alarming) detail on its findings about hacks and shareholder value, AON provides some good news. Based on data from its risk assessment platform, security of common IT domains is improving. As is the security of some industry sectors: “Healthcare: The overall cyber risk score for healthcare clients improved from 2.6 to … Read more

Converge Lands $15 Million A-Round from Forgepoint Capital

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The march of cyber insurtechs continues. “Tom Kang has been appointed as CEO of Converge Insurance as part of the financing round, which closed last week. ‘Our mission is to empower policyholders with radically transparent cyber insurance so they can manage technology risks more intelligently,’ said Kang. ‘We’re thrilled to partner with the team at … Read more

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