Marsh takes two for management position in US SPAC

Marsh takes two for leadership role in US SPAC

Main insurance coverage dealer and danger advisor Marsh has introduced the appointment of two particular function acquisition firm (SPAC) insurance coverage co-leaders inside the US monetary {and professional} legal responsibility observe at Marsh Specialty. Andrew Fiscella  and John Umbach assume their co-leadership efficient instantly.

Of their new position, Fiscella and Umbach will lead a crew of danger specialists as they assist SPAC shoppers to determine dangers, customise applications, and safe administrators and officers (D&O) legal responsibility insurance coverage insurance policies all through the lifecycle of the SPAC till the ultimate merger or de-SPAC transaction.

Each co-leaders beforehand served as senior vice presidents inside the monetary {and professional} legal responsibility observe, the place they accomplished a whole lot of SPAC IPOs and de-SPAC transactions.

“Marsh’s SPAC crew performs a essential position in offering the chance switch and advisory companies that contribute to the success of our shopper’s transactions,” Umbach mentioned, whereas Fiscella identified that strong D&O protection had grow to be “vitally vital” to shoppers with the regular rise in SPAC and de-SPAC litigation in addition to heightened SEC oversight.

“With the proliferation of SPAC formations and de-SPAC transactions over the past three years, Marsh has assembled a world-class crew of danger specialists who perceive the nuances of those transactions and the way greatest to mitigate danger,” mentioned US monetary {and professional} legal responsibility observe chief James Beatty. “Purchasers and colleagues will profit from Andrew’s and John’s data and expertise as we proceed to develop options that present SPACs with the safety they should function efficiently in as we speak’s ever-evolving danger surroundings.”


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