The increased market demand for coverage has backlogged carriers with submissions ― a problem exacerbated by fewer markets willing to write the risk due to the growing potential for lawsuits. (Credit: rawpixel.com/Adobe Stock) The increased market demand for coverage has backlogged carriers with submissions ― a problem exacerbated by fewer markets willing to write the risk due to the growing potential for lawsuits. (Credit: rawpixel.com/Adobe Stock)

The tremendous growth in the number of Special Purpose Acquisition Companies (SPACs) has increased demand for directors and officers (D&O) insurance. As a result, insurers have been grappling with the growing stack of submissions for SPACs looking to secure coverage to protect against potential claims.

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