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.

Tips for Today’s Cyber Insurance Market: Practical Report for CISO’s/Execs from Microsoft

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Presentation for RSA includes market intel and useful tips for navigating the cyber insurance market, from methods for estimating required coverage to “gotchas” lurking in policy fine print. Examples from the report: The top reasons insurers don’t pay 1. “It’s related to the same breach as last year” 2. “We only pay up to _____” … Read more

Rhu-row — Cyber Insurance May Not Cover “Phishing” Fund Diversion Scams 

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Note the language in the policy that appears to exclude losses from similar scams. It’s in the courts now. “Star Title’s employees purportedly failed to authenticate the perpetrator’s wire instructions. Upon learning that the fraudster had diverted the funds, Star Title tendered a wire fraud claim to its cyber insurance carrier, which denied coverage.” Source: … Read more

Expand TRIP To SMEs And Cover International Attacks That Impact US: Self-Insurance Institute Of America (SIIA)

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“’In general, providing coverage under TRIP for damage inside the US from a foreign event would be best considered as a type of loss that was envisioned to fall under the umbrella of coverages under TRIP. Foreign events such as those contemplated in the Treasury’s inquiry would meet the intent of covered damage under TRIP … Read more

Useful Survey on Global Cyber Risk and Insurance from Munich Re

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“Munich Re has been involved in managing cyber risk from the first moment it became a consideration. The results of our Global Cyber Risk and Insurance Survey 2022 underline that there is clearly more action required – for policyholders and the insurance industry.” One interesting tidbit is increasing use of personal cyber insurance by senior … Read more

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