John Butler joins Kovrr advisory board to help develop cyber ILS strategy

John Butler, the head of Cohen & Company’s US insurance asset management platform and global ILS programme, has joined the advisory board at Kovrr.

Butler advises Kovrr on its continuous global expansion, providing cyber risk modeling solutions for insurance and risk professionals. He has over 20 years of ILS and reinsurance market experience, having served as managing partner at Twelve Capital, the insurance and reinsurance-linked investment management firm.

Butler is also president and chief executive officer of Insurance Acquisition Corp, a blank check company that will focus on insurance, reinsurance or insurance related services sectors.

Butler said the growing cyber insurance market requires additional capacity, which ILS and other alternative financial vehicles must support. “Cyber catastrophe bonds will be a major growth driver for both, but productisation depends on progressive approaches to modeling portfolio cyber risk.”

He added: “Kovrr’s advanced data harvesting and modeling technologies enable the market to financially quantify portfolio cyber risk and provide investors the needed confidence for supporting these products.”

Yakir Golan, CEO of Kovrr, said: “The market is constantly looking for new ways to diversify risk. Cyber is a great candidate.”