Insurance for SPAC
As the founder of a SPAC (Special Purpose Acquisition Company), it is in your interest – and that of the shareholders – to be able to list the company on the stock exchange as soon as possible. And then to move forward with a merger or acquisition. To ensure this process is as smooth as possible, you are able to cover your main risks through Meijers.
You may require, for example, an appropriate directors’ liability insurance. For directors of a SPAC with a stock exchange listing (AEX index), this will require a little extra attention. With their knowledge of all the ‘ins and outs’, our D&O specialists would be happy to assist you.
What if there are setbacks?
With a SPAC, you aim for a good return. In many cases, that is justified as you have, of course, prepared carefully. Unfortunately, unforeseen circumstances are always possible. Should such a situation arise, it is a comforting thought that, with the correct risk management measures, you can still continue with the process. A sure step forward.
Roberto Ramdin, Manager Liability
Meijers likes to keep abreast of new developments, which is why we explored the ‘SPAC’ phenomenon. Partly because of our knowledge and experience in D&O insurance, we are able to change course quickly. We are one of the first companies to insure a number of SPACs in the Netherlands. In the future, the reputation of directors and supervisory board members will become increasingly important. As an investor, you place your trust in these people, and that is where the success lies.
I get a kick out of thinking about and finding an insurance solution for the most complicated risks. Armed with our knowledge, we move with the changing rules that apply to insuring SPACs. We use our capabilities to offer specialist, bespoke solutions to our (international) customers.
Rob van Leyen, Senior Account Specialist Liability
Insurance for SPACs is relatively new in the Netherlands and only a small number of insurers are interested in insuring these ‘high-risk’ initiatives. It is a delicate process to connect providers and customers with one another. Our job is to search carefully and to ensure that quality continues to be the most important cornerstone.
At Meijers we like to come up with a complete, appropriate solution. For me, the challenge is to find a suitable insurance partner based on our risk advice, offering ‘bespoke’ cover. I want to know what concerns our customers have. With more than 25 years of experience, I know that this approach works and leads to a lasting relationship. Our enthusiasm and personal approach are evident to Meijers’ customers. That makes my work rewarding.
Voice of the customer
“When exploring new opportunities and possibilities you can feel the energy of the people at Meijers. That passion and knowledge creates confidence in the right solution for often complex issues. The result is a bespoke product that is perfectly in line with our requirements and expectations.”Nicholas Aperghis, founder and CFO of SPAC EFIC1