CAC Specialty Broker Matthew Movafaghi Recognized as a 2024 Specialty Power Broker

Topics: Specialty

Matthew Movafaghi, SVP, Head of Tax Insurance Placements, CAC Specialty

Matthew Movafaghi
SVP, Head of Tax Insurance Placements
CAC Specialty, Scottsdale, Ariz.

When Knight Energy Services LLC was in the process of finalizing a transaction and ran into a potential deal-breaker issue, Matthew Movafaghi, senior vice president at CAC Specialty, was able to find a creative solution to mitigate risk via transactional insurance, allowing Knight Energy Services to close the transaction.

“At Knight Energy Services, we understand 24/7 availability when it comes to our customers’ all-hands-on-deck issues,” said Dwight Gross, president and CEO.

“We typically don’t see our level of service in vendors outside of the oil and gas industry. Matt and the CAC Specialty team are an exception.”

Creativity is also the cornerstone of what Movafaghi provides his clients. As Saish Setty, general counsel at Parallaxes Capital, explained, Movafaghi provided an extremely bespoke solution to Parallaxes Capital’s needs.

“Nobody else had ever crafted a policy like this before,” Setty said. “It’s not just like he was extremely responsive, but he was extremely creative. And it was a transaction that did get a lot of issues that came up. He came up with creative solutions that were truly cutting-edge.”

A tax attorney by trade, Movafaghi joined CAC Specialty because he recognized that tax insurance should be used more often in the ordinary course of business than it was currently being used.

He has worked diligently to educate the market about tax insurance and is the author of A Tax Practitioner’s Guide to Tax Insurance. He frequently speaks on numerous panels around the country on tax insurance.

All 2024 Power Broker Winners

2024 Specialty Power Broker Winners and Finalists

What is a Power Broker?

A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they have delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.

Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.

Who selects the winners?

Power Brokers are selected by risk managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.

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