Don’t Step on a Crack in the SPAC/deSPAC Insurance Claim Process

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Since our last episode on SPACs, the market has cooled some as prime targets are harder to source and capacity in the insurance market continues to squeeze. With skyrocketing premiums and a quick turnaround in the underwriting process, the market is starting to consider the next natural step in the process – the claims that are likely to flow from some of these deals. Through the insurance lens, the burning question is whether SPAC and deSPAC claims will actually be paid? Policyholders are also wondering whether the claims process See more +
Since our last episode on SPACs, the market has cooled some as prime targets are harder to source and capacity in the insurance market continues to squeeze. With skyrocketing premiums and a quick turnaround in the underwriting process, the market is starting to consider the next natural step in the process – the claims that are likely to flow from some of these deals. Through the insurance lens, the burning question is whether SPAC and deSPAC claims will actually be paid? Policyholders are also wondering whether the claims process will be smooth or complex? Will there be unintended consequences flowing from the speed at which these complicated transactions have proceeded? In today’s episode, Lynda Bennett and guests Steve Shappell, Alliant Specialty Claims and Legal Practice Leader, and Ron Borys, Senior Vice President and Financial Institutions Practice Group Leader from Alliant Insurance Services, provide insight on what to expect and how to prepare when the claim process begins.

Speakers:

Lynda A. Bennett, Partner and Chair, Insurance Recovery

Steve Shappell, EVP Specialty Claims and Legal Practice Group Leader, Alliant Insurance Services

Ron Borys, Senior Vice President and Financial Institutions Practice Group Leader, Alliant Insurance Services

Subscribe to Lowenstein Sandler’s Insurance Recovery Podcast: Don’t Take No for an Answer via Apple Podcasts/iTunes, Google Podcasts, Pandora, SoundCloud, Spotify, and YouTube. See less -

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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