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  • Enables insureds to reduce or eliminate a contingent tax exposure arising from tax treatment of a transaction, investment or other tax position where the underlying legal conclusions may be subject to future challenge by the IRS or state or foreign tax authorities
  • Available limits up to $50M for any single risk; minimum premium of $250K
  • Coverage is available for risks on a 100%, shared, layered or excess basis from AIG’s non-admitted carriers only
  • Written advice or guidance from legal or other tax advisers obtained by the client is preferred, but not required
  • Transactions that demonstrate a clear business purpose other than to achieve a particular tax result are preferred; whether the jurisdiction has GAAR (General Anti-Avoidance Rules) in place will be taken into consideration
  • Prefer to cover risks in jurisdictions that are politically stable, have a developed legal system and a tax authority or tribunal with a recognized, accepted route of appeal and a reputation for competence, probity, sophistication and fairness
  • Federal, state, local or foreign taxes considered (policy period tracks applicable statutes of limitations)
  • Expenses of legal or other tax advisors incurred in resolving disputes with the IRS and/or other taxing authorities in respect of the covered tax liability
  • Gross-up of taxes payable with respect to insurance proceeds in the event of a loss and insurance recovery •Interest and insurable non-criminal fines or penalties related to a covered tax liability

Claims

Dedicated and experienced claims team specialized in disputes surrounding complex transactions and in processing customer claims in an expedient manner with proven claims paying ability

 

Underwriting Expertise

 

 

Underwriting and industry expertise to craft the tailored programs each structured transaction requires

 

Multinational

 

 

Committed to delivering multinational expertise, solutions, and service to clients in a globally consistent and seamless fashion through one of the largest global networks in the industry, spanning 215+ countries and jurisdictions