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.

BoA Versus Lloyd’s on Cyber War Exclusions: FT

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A Financial Times report (here) says major cyber insurance buyers are pushing back against Lloyd’s moves to exclude “state-backed” cyber attacks from coverage. Financial services companies are among those most concerned. It appears Lloyd’s is looking for ways to address the concerns. “Lloyd’s said it was not demanding ‘a blanket exclusion but a segregation of … Read more

What Type of Control is Most Effective in Preventing Successful Cyber Attacks? Marsh Has an Answer

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Marsh analyzed its claims data and responses to customer self assessments. The resulting report may surprise some folks… “Automated hardening techniques — by a wide margin — have the greatest ability of any control studied to decrease the likelihood of a successful cyberattack, making it a key control to prioritize in order to minimize losses. … Read more

Cowbell Launches “MooGPT” for Cyber Insurance

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As with the AI announced last week by Coalition, Cowbell’s solution appears focused on enhanced broker and customer service, versus direct cyber risk purposes. “MooGPT assists brokers and policyholders in getting on-demand guidance on risk assessment, such as Cowbell Factors and Cowbell Insights, non-binding premium indications, and provides information on the claims process. MooGPT assists … Read more

Coalition Touts New AI Tools for Cyber Insurance 

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Interesting that the first announced application is for enhanced broker and customer service, versus direct cyber risk purposes. The InsurTech cyber insurance provider does note it’s working on AI-related cyber vulnerabilities. “’AI is already reshaping the cyber risk landscape,’ said Tiago Henriques, vice president of security research at Coalition. ‘While we are applying our AI … Read more

Cyber Insurance is Our Business & Business is Good

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Fitch Ratings predicts 2023 will be another strong year for the industry. Though premium-rate increases continue to decelerate, demand remains high, building on trends over recent years. “Fitch estimates industry statutory direct written premiums for cyber coverage in standalone and package policies increased by over 50% in 2022 to $7.2 billion, following 73% premium growth … Read more

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