Mosaic hires tax expert for transactional liability team

Global specialty insurer Mosaic, launched in February, has hired mergers and acquisitions tax specialist Jon Hutchens to its US-based transactional liability team.

Helping address “record demand in the sector”, Hutchens joins the Virginia-based team as SVP and global head of tax for transactional liability. He will lead the development of tax insurance underwriting and oversee decisions on tax arising in North America, the UK, Europe and Asia-Pacific.

According to the company, transactional liability coverage, including representations and warranties insurance (RWI), is core to Mosaic’s model. The business is among the company’s six current product lines, along with cybersecurity, political risk, political violence, financial institutions, and professional liability.

Hutchens will report to the unit’s global head, William Monat.

“We’re thrilled to welcome Jon to Mosaic as we continue to build a diverse, deeply experienced transactional liability unit to respond to the rising growth in market demand for capacity and knowledgeable underwriting,” said Monat. “Jon’s focus on global tax insurance adds further highly-specialized talent to our product offering as we expand our scope in this business line.”

Hutchens has been a tax lawyer for 14 years, most recently as a partner in Dentons US, based in New York City and Washington, DC. His work has focused on cross-border transactions and structures, including mergers and acquisitions, restructuring and expansions. He has counselled issuers on the treatment of various financial instruments and advised insurance underwriters on tax risks in connection with specialty policies.

Hutchens said” “It’s a time of great change in the global tax system. I’m excited to be joining such a skilled M&A team and to offer solutions for managing the complicated risks taxpayers are confronting in a multitude of jurisdictions.”