Cyber risk modeller Kovrr adds Butler of Cohen & Co. to advisory board

Cyber risk modelling firm Kovrr has added John Butler, head of Cohen & Company’s US insurance asset management platform and global ILS programme, to its advisory board.

Butler will advise Kovrr on its continuous global expansion, providing cyber risk modeling solutions for insurance and risk professionals.

Butler has over 20 years of ILS and reinsurance market experience. Prior to joining Cohen & Company, he was managing partner at insurance and reinsurance linked investment management firm Twelve Capital. Additionally, he is president and chief executive officer of Insurance Acquisition Corp.

Yakir Golan, CEO of Kovrr, said: “We’re excited to have John on board. The market is constantly looking for new ways to diversify risk. Cyber is a great candidate. John brings a wealth of experience in both launching and growing ILS and reinsurance products. John’s knowledge and expertise will help Kovrr’s clients and partners introduce innovative financial products with best in class cyber risk portfolio modeling capabilities.”

Butler commented: “As the cyber insurance market grows and matures, it demands additional capacity. Alternative financial vehicles such as ILS must support this need. Cyber catastrophe bonds will be a major growth driver for both, but productization depends on progressive approaches to modeling portfolio cyber risk.

“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.”