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.

“I’ve Never Seen Worse Communication In My Life” Than Lloyd’s Announcement of Nation-State Cyber Exclusions 

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It’s been a “PR disaster” says the CEO of managing general agent (MGA) CFC, which has a Lloyd’s syndicate. The Lloyd’s announcement caused “panic” by making insurance buyers think that no attacks linked to nation states will be covered, which is far from true. “It really is such a shame to see a change in … Read more

Watch Out: The “Hard Cyber Insurance Market” Is Coming Back, Says At-Bay

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At-Bay reports the policy pricing cycle turns much faster for cyber coverage than many other kinds of risk. “Based on our data and exemplified in the chart above, there is a consistent cycle between ransomware frequency and policy pricing. Two to three quarters after a peak in ransomware frequency, we see a responding increase in … Read more

Cyber Insurance Becoming Buyer-Friendly:  Aon. Really & Will It Last? 

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“David Molony, Head of Aon’s Cyber Solutions for EMEA, acknowledges the significant shift in market dynamics, stating, ‘Where businesses were constrained by availability in 2021 and into 2022, it is now vastly different. Instead, buyers should now be looking at mitigating their exposure — taking advantage of the market at the expense of sacrificing coverage … Read more

Policy Holders Reducing Self Insurance & Buying More Cyber Coverage: Marsh

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“Clients generally continued to increase their self-insured retentions (SIRs) early in 2022. As the market improved and pricing stabilized throughout the year, there began to be a decrease in SIRs as coverage became more available and affordable, a trend that has continued into 2023, according to the report.” Stricter policy language, pricing increases and more … Read more

Specter of State-Backed Attacks Continues to Bedevil Carriers and Potential Policy Holders

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The market confusion largely began when Lloyd’s of London asked carriers to exclude most state-backed cyber attacks. “A policyholder can now face as many as five or six different kinds of war exclusions in a single standard policy, said Colin Daly, executive vice president of broker CAC Specialty.” While this Bloomberg  article reports some carriers … Read more

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