Norton Rose Fulbright gains tax insurance underwriting partner in Washington, DC

Global law firm Norton Rose Fulbright has sharpened its competitive edge in tax and corporate transactions with the arrival of Washington, DC partner Jeff Korenblatt, a seasoned leader in the growing world of tax insurance underwriting. Joining from Holland & Knight, Jeff focuses on the high-demand intersection of tax law, insurance and transactional risk mitigation.

Jeff’s addition is a strategic step for the firm into a dynamic market segment that is undergoing rapid development – fueled by increasingly complex M&A activity, renewable energy investments and an expanding appetite among insurers to underwrite sophisticated tax risks across global jurisdictions.

“The tax insurance underwriting market is intensifying,” said Jeff Cody, Norton Rose Fulbright’s US Managing Partner and Global Co-Managing Partner. “Our clients want practical, innovative solutions to their transactions, and tax insurance is now squarely on their radar. Jeff’s special skillset is the perfect foundation for us to lead in this space and complements our existing world-class representations and warranties insurance (RWI) offering.”

Jeff’s arrival deepens Norton Rose Fulbright’s formidable capabilities in tax and corporate dealmaking. His practice focuses on underwriting sophisticated, high-value tax risks tied to issues such as renewable energy credit qualification, credit transfers under Section 6418 of the Internal Revenue Code, net operating loss availability, complex leasing transactions, domestic and cross-border M&A and financing transactions, planning involving employee benefits plans, state tax matters, US effectively connected income exposures and debt versus equity risk, among other issues.

Jeff’s broader practice leverages off of more than two decades of advising US and foreign taxpayers on the full lifecycle of domestic and cross-border M&A tax planning, from structuring joint ventures and private investment vehicles to navigating tax-free reorganizations and cross-border spinoffs. He provides tax guidance for acquisitions, restructurings and dispositions, the multijurisdictional development, deployment and commercialization of intellectual property and compliance with FATCA and the minimization of withholding taxes, including through the international tax treaty network. His clients also value his significant experience in valuation and transfer pricing matters, as well as his proficiency in navigating the US anti-deferral and inbound taxation regimes. 

With insurers now underwriting increasingly complex tax issues, Jeff is stepping in at a critical moment.

“Jeff brings precisely the kind of specialized, high-value experience our clients demand,” said Sheldon Nussbaum, Norton Rose Fulbright’s US Head of Business Practice. “His knowledge of the tax insurance underwriting ecosystem, his creative approach to structuring complex deals and his readiness to innovate makes him a significant add to our business group. In addition, we expect to see significant synergies from the extensive overlap of our firm’s insurer clients and those that Jeff has historically serviced to be beneficial.”

Tax insurance underwriting accelerates amid shifting market forces

Indeed, the tax insurance underwriting market has experienced significant growth and transformation. Recent data shows tax insurance submissions have surged 65% year-over-year, with renewable energy deals accounting for over 55% of activity in North America, according to the Bloomberg Law Tax Report. Meanwhile in London, more than 20 insurers are actively participating, often deploying limits above $50 million. These trends speak to the opportunity in the space, and, with Jeff’s arrival to the Norton Rose Fulbright team, the firm is well positioned to capitalize.

“I was drawn to Norton Rose Fulbright because it’s one of the few firms that can truly support a tax insurance underwriting practice at scale,” said Jeff Korenblatt. “Between the firm’s built-out RWI offering and tax equity capabilities and its market-leading renewable energy and project finance practice – the platform is ideal for me and my clients. I’m also energized by the firm’s commitment to collaboration and innovation.”