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.

75% of Respondents Know They Need Cyber Insurance, But Far Fewer Say They Have It: Travelers Risk Index 

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Potential good news for cyber insurers: Awareness of need is high and perhaps sales will catch up to it… “Nearly 75% of respondents said they believe having a cyber insurance policy is critical, but the percentage who said their company has purchased coverage was 59%, up only 3 points from 2021.” Source: Travelers Risk Index … Read more

Ransomware Has CISOs on the Defensive; Cyber Insurance a Fallback 

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The statistics on how many CISOs have been hit by two to five ransomware attacks are sobering. “More organizations ‘have implemented ‘Plan B’ measures this year, from opening cryptocurrency accounts to purchasing ransomware insurance riders,’ which the report said, ‘suggest that organizations realize threats are slipping through their defenses and a ransomware attack is inevitable.’” … Read more

Worried About Cyber Security & Insurance for Your Yacht Fleet? There Are Specialized Services for this Vertical Too 

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A guide to cyber considerations impacting the maritime industry is at the link… “Dryad Global provides maritime cybersecurity services that meet current and existing recognized international (IMO) standards including various flag states, NIST, BIMCO, and multiple insurance company and underwriter requirements.” Source: Maritime Cyber Security & Risk Management for Yachts and Yacht Managers

Better Not Fib on Your Cyber Application —  Insurers Clamp Down on Accuracy of Clients’ Self-Attestations of Security Controls

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A hacked company claimed damages but was sued and had its coverage voided for falsely claiming it had MFA… “‘The lawsuits and the rescinding of coverage, the calling out of the insured and the policyholders on little fibs that they told, or omission of details around how they’re protected in their secure practices’ appear to … Read more

SoFi Jumps Into Personal Cyber Insurance Sector 

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“Blink by Chubb offers a suite of Chubb-backed personal insurance products distributed through the company’s digital brokers and affinity partners, such as SoFi. Chubb is the world’s largest publicly traded property and casualty insurance company. Blink Cyber is a stand-alone insurance policy that addresses the needs of customers facing the increasingly growing risk of cyber-attacks. … Read more

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