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Clients depend on their lawyers for creative solutions to risks they face in their day-to-day business, and to resolve roadblocks that prevent important transactions from closing. In this One-Hour Briefing, Kenneth R. Pierce of Vanbridge LLC discusses the use of specialty insurance products to indemnify clients for potential tax liability. After providing some background on traditional risk mitigation tools that are used in corporate transactions to address contingent liabilities, Mr. Pierce will discuss:
- The basics of insurance for tax-related liabilities, including background on the types of tax risk that are insurable;
- Potential new issues arising under the 2017 Tax Cuts and Jobs Act;
- The underwriting and submission process; and
- An overview of the tax liability insurance policy.