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.

Ransomware Days = the New Snow Days 

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The Des Moines, Iowa school system has called in its (unnamed) cyber insurer, the FBI and DHS after an apparent ransomware attack, which put 30,000 students out of school for two days. While many students were doubtless thrilled to be at home with no access to online learning, the school district is responding as if … Read more

Here’s the First Reported “Cyber Catastrophe Bond,” from Beazley 

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We recently wrote about the market anticipation of a trade-able 144a Catastrophe (“Cat”) Bond. Now Beazley, a London-based specialist insurer, has launched something related, the first-ever cyber catastrophe bond. The $45 million bond gives Beazley indemnity for all risks in excess of a $300 million catastrophic event and is backed by a group of insurance-linked … Read more

Want to Qualify for Cyber Insurance? Better Get MFA. Here Are Tips from CPO Magazine 

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To get cyber insurance, companies increasingly must adhere to certain security requirements. Multi-Factor Authentication (MFA) is perhaps chief among them. MFA adds an additional layer of authentication and makes it difficult for attackers to gain access to user data. This useful article discusses relatively fast and most cost-effective paths to connecting all your self-hosted apps … Read more

New Biden Cybersecurity Plan Will Push Regulations, Address 3rd Party Liability: WaPo 

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The Biden Administration plans to release a national strategy that will introduce comprehensive cybersecurity regulation of the US’s critical infrastructure, acknowledging that voluntary efforts have not been sufficient in protecting against cyberattacks. Officials have stated that the new strategy will include expanded requirements for private companies operating in critical sectors. This marks the first time … Read more

Keeping the Lights On: Feds Try to Get Ahead of Threats to the Grid as Cyber Insurance Premiums Jump 

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Focus on cybersecurity for the grid was growing even before criminals attacked Washington and North Carolina substations in December. “The Federal Energy Regulatory Commission is considering developing new cybersecurity rules for DERs (Distrubuted Energy Resources) on the bulk electric system and DOE (Department of Energy) is directing millions to support ‘next-generation’ cybersecurity research, development…” “…The … Read more

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