HUB International has appointed Chris Tassone as Managing Director of its tax liability insurance and risk capability for North America as the brokerage expands its Transactional Risk Practice across the U.S. and Canada.
Tassone will work with clients and their legal and accounting advisors to identify tax exposures and structure insurance policies intended to transfer those risks to the insurance market.
He will report to Sumit Agarwal, Managing Director and Head of Transactional Risk for North America.
Tassone brings more than a decade of experience across tax law and Big Four consulting.
He joins HUB from Taft Stettinius & Hollister, where he was a partner in the firm’s Tax practice.
At Taft, Tassone advised clients on mergers and acquisitions, tax controversies, renewable energy tax credits and other strategic transactions.
Earlier in his career, he worked as a tax consultant in Ernst & Young’s National Tax Department within its Credits and Incentives group.
HUB highlighted the combination of Tassone’s background as a practicing tax attorney and his understanding of the insurance market.
The company sees demand increasing for insurance products that can address tax risks arising in M&A and other transactions.
Tax liability insurance can be used in transactions where parties want greater certainty around a specific tax position by transferring defined exposure to an insurer rather than leaving the entire potential liability with a buyer, seller or other party.
Tassone also currently chairs the Ohio State Bar Association’s Taxation Committee.
The appointment represents another investment in HUB’s broader Transactional Risk Practice.
HUB employs more than 21,000 people across North America and provides risk management, insurance, employee benefits, retirement and wealth management services.
KEY QUOTE:
“Chris’s background as an experienced practicing tax attorney gives him a unique ability to navigate complex tax issues and advise clients with the credibility of someone who has also sat on the other side of the table.”
Sumit Agarwal, Managing Director And Head Of Transactional Risk For North America At HUB International
