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.

Jaguar’s New Tagline is “Copy Nothing,” but its Cyber Insurance Disaster Suggests “Penny Wise, Pound Foolish” Might be More Apt

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Jaguar Land Rover, also known as JLR, was hit with a cyber attack last month that forced the company to shut down its tech systems and assembly lines, with billions-of-dollars of damages and lost sales potentially far exceeding JLR’s pre-tax profit last fiscal year. Sounds like time for the car maker’s cybersecurity insurance policy to … Read more

What a Difference a Day Makes: Berkley Sues as a Cyber Insurance Subrogee to Recover Claim Settlement

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As the cyber insurance industry grows, there are more and more claims, leading to more and more settlements, leading to an increasing number of lawsuits by “subrogees.” These are insurance companies that use the process of “subrogation” to assume their insured’s legal rights to pursue recovery of money paid by the insurance company in a … Read more

What the Duck is Going on With Aflac’s Breach and Disclosures About it?

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We’ve reported that insurance giant Aflac filed an SEC 8-K form in June to disclose that a hacker had used “social engineering” to gain “unauthorized access to its network.” Interestingly, at least for cyber insurance nerds such as us, Aflac did not file an “Item 1.05” 8-K for a “material” cyber event, but rather an … Read more

More Confusion on Cybersecurity 8-K Disclosures

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We’ve long covered the SEC’s regulation requiring public companies to disclose serious cybersecurity incidents in an 8-K filing. See several updates and the text of the cyber disclosure regulation here. A common theme since the rules were released in 2023 has been confusion about when cybersecurity 8-Ks must be filed. The rules seem straightforward on … Read more

AI Insurance Exclusions Increasingly Common – But Less So in Cyber Policies

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As the risks of AI grow alongside its benefits, many insurers are taking action to exclude AI-related liabilities from policies. But these AI insurance exclusions appear more common in coverage such as directors and officers (D&O) and errors and omissions (E&O) than cyber insurance, where insurers often cover AI liabilities and are adding coverage. These … Read more

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