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.

Cyber Insurance to the Rescue at Beazley 

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The company’s 2022 results showed a 48% drop in “profit before taxes,” which it attributed to investment challenges. But cyber continues to grow. “Cyber Risks continued to see strong rate increases of 40% (2021: 88%) leading to an increase in gross premiums written to $1,156.1m (2021: $814.3m).” Read the Beazley filing.

One More Coverage Gap for Buyers of Cyber Insurance to Worry About 

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Expenses caused by increasingly aggressive government regulators… “With regulators such as the FTC increasing cybersecurity enforcement, regulatory defense coverage is increasingly important. Enforcement actions can result from security failures to protect data (including employee information), improper data collection practices, failure to disclose a data breach or deceptive privacy practices. A comprehensive cyber policy covers attorneys’ … Read more

Forget Those Risky SMBs, We’ve Got Mono-line Coverage for the Big Guys, Says Trium Cyber 

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Recently-launched Trium Cyber reports being the first Lloyd’s-approved provider of mono-line cyber coverage for U.S. risks, with the ability to write up to $50 million in gross premiums this year. Its focus is on customers with > $1b revenue. “In the large market segment, there is a greater emphasis and investment in security and their … Read more

Marsh Bullish on Cyber Captives Despite Moderating Cyber Insurance Prices

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Marsh notes global cyber pricing rose 28% in Q42022, slowing compared to 53% the prior quarter. But rates and volatility remain high enough to keep providing tailwinds for captive structures, concludes the firm. Most growth in Marsh captives comes from single-parent captives and cells, Marsh reports. “In fact, between 2020 and 2021, 40% of new … Read more

Senators Think Gov Agencies Can Explain Cyber Coverage Better than Brokers/Insurance Companies 

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From a press release from Shelley Moore Capito (R-WV) on the proposed “Insure Cybersecurity Act:” “A new bill by Sens. John Hickenlooper (D-CO) and Shelley Moore Capito (R-WV) would establish a Commerce Department working group to ‘improve communication over cybersecurity insurance coverage levels…’” “The bill requires establishment of the NTIA cyber insurance working group within … Read more

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