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.

Beazley Doubles Down on Cyber Cat Bonds/ILS for Cyber Insurance

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“We’ve come a long way in our journey from the first ever cyber cat bonds, which were private, we’ve now got three 144A cat (catastrophe) bonds out there covering the cyber risks,” said Richard Gray, Head of Third-Party Capital at Beazley in this report from Artemis, a provider of information on insurance catastrophe bonds and … Read more

Watch Out for “Quishing,” UK Cyber Security Provider Warns the Insurance Industry (and We Add: Beware of “Brushing” Too)

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“Quishing (QR Code Phishing) (is a) rapidly growing attack vector, increasing from 0.8% of phishing attempts in 2022 to 12.4% in 2024,” reports Intersys, a UK company that provides cyber risk management services to the insurance sector. Other cyber experts are sounding the same alarm, plus warning of “brushing,” another scam increasingly linked in quishing. The quishing … Read more

New York State Uses Cyber Regulations to Go After Allstate Company For Repeat Breaches

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Weeks after New York State announced new cyber regulations, the state’s Attorney General Letitia James has filed suit over breaches suffered by car insurer National General, now owned by Allstate Insurance. “Emboldened Hackers” “National General’s weak cybersecurity emboldened hackers to steal New Yorkers’ personal data, not once but twice in two separate cyberattacks,” said James … Read more

What Does SEC’s New Cyber and Emerging Technologies Unit (CETU) Mean for Cyber Regulations?

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The Securities and Exchange Commission (SEC) has created a new cyber unit, no doubt raising questions for cyber insurers about the potential impact of the changes on their liability, including from SEC cyber regulations involving disclosure of cyber attacks. Called the Cyber and Emerging Technologies Unit (CETU), it’s been formed “to focus on combatting cyber-related … Read more

New York State Announces New Cyber Regulations; Exempts Itself

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New York’s legislature has announced two new amendments and a clarification to the State’s cyber law involving data breaches, highlighting important changes in cyber regulations, reports the indispensable JD Supra. Businesses now have a 30-day deadline to notify residents impacted by covered breaches and, if the hack involves financial matters, the New York Department of … Read more

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