BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Aon task force formed to serve SPAC needs


Aon PLC on Friday said it has formed a task force to meet the needs of businesses involved in special purpose acquisition companies, or SPACs.

A SPAC is a publicly traded company formed by a group of investors or sponsors in order to acquire or merge with an existing company.

The task force was formed in response to the rapid growth in the SPAC market, and the growing management liability exposures and coverage needs of SPAC organizers, Aon said.

Through Sept. 2020, there have been over 100 SPAC offerings year-to-date, for a combined capital raise of over $40 billion and an average offering size approaching $400 million, according to an October Aon client alert.

The task force will focus on deal lifecycle, including offering, diligence, insurance coverage and analytics, Aon said in a statement.

“Due to a mix of rising premiums and retention deductibles, and shrinking capacity – businesses entering a SPAC need an experienced team that knows the complexities of each stage of the deal,” Kristin Kraeger, Aon’s national D&O practice leader, said in the statement.

The task force will be led by Ms. Kraeger, as well as Tim Fletcher, Western region SPAC and IPO, Uri Dallal, Eastern region SPAC and IPO, and Jim Knox, technology regional practice leader.

The leadership team is supported by 20 industry veterans with experience in every stage of the SPAC transaction from program design to insurer selection to claims advocacy and business decision making, Aon said.








Read Next

  • Aon, asset manager provide cyber capacity

    Aon PLC said Thursday it has introduced a new product with an asset manager that will provide up to $70 million of alternative capital to protect insurers and reinsurers against systemic and catastrophic cyber events.