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.

“Fraudulent Instruction” Attacks Surge: Beazley 

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We’ve seen such attacks. They’re tricky, often made possible by poor cyber hygiene, and require attention to detail by employees as a final defense (“Boss, are we really supposed to send this wire transfer to a bank in China?”) As Beazley defines it: “Fraudulent Instruction is the transfer of funds by an employee, outside of … Read more

MSPs Warned: Be Careful About Giving Clients Cyber Insurance Advice 

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“During an XChange session titled ‘What An MSP Needs To Know About Cyber Insurance,’ …Paul Vedder, managing director of Palm Beach Grardens, Fla.-based VXI…agreed that compliance is becoming a larger segment of their business relationships with customers. Vedder, responding to questions from panel moderator Jim King of Atlantic Pacific Insurance, said that MSP personnel need … Read more

K-12 Schools Having Trouble Getting & Maintaining Cyber Insurance: GAO

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“Additional federal coordination is needed to enhance K-12 cybersecurity,” says the report from the United States Government Accountability Office (GAO). But it looks as if many school districts are failing to do their part, from failing to report all cyber attacks to not instituting MFA and training. Note the reference to one school district being … Read more

Many Cyber Insurance Customers Find It Hard to Understand Their Policies & Other Interesting Tidbits in New Advisen-Zurich Survey 

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This useful survey includes reasons companies buy cyber insurance (see below). It also notes that a third of respondents say their cyber insurance policies are written unclearly. Source: 2022 Advisen-Zurich survey illuminates growing cybersecurity concerns – Oct 26, 2022

Cyber Insurance Prices Jump Again in Q3, But Growth Rate Moderates: Marsh Market Index 

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Interesting note: Prices for non-cyber financial and professional lines decreased during the same quarter. “Cyber insurance pricing increased 48% in the third quarter, compared to 79% in the prior quarter. The cyber insurance market experienced increased competition; more insurers increased capacity for insureds with strong cybersecurity controls. Increased competition is due to many factors, including: … Read more

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