The SPAC Podcast

Custom D&O Coverage Protects SPAC and De-SPAC Companies

Joshua Wilson

In this episode of The SPAC Podcast, Chaz, founder of Churchwell, explains why D&O insurance is highly customizable and why wording matters more than most sponsors realize.

He shares real-world examples of how missing a single phrase, like “reverse merger,” has led carriers to deny SPAC-related claims. Chaz also describes how his firm works with clients post-de-SPAC, leveraging top D&O coverage attorneys to audit policies, uncover deficiencies, and fix them without raising costs.

For SPAC sponsors and targets, this episode highlights how tailoring policy language can make the difference between full protection and no coverage at all.

Connect with the Guest:

Chaz – Founder, Churchwell

LinkedIn: https://www.linkedin.com/in/chazchurchwell/

View all of their episodes here:

https://www.thespacpodcast.com/guests/chaz

Connect with the Hosts & The SPAC Podcast:

Michael Blankenship LinkedIn:

https://www.linkedin.com/in/mikeblankenship/

Joshua Wilson LinkedIn:

https://www.linkedin.com/in/joshuabrucewilson/

YouTube Channel:

https://www.youtube.com/@Thespacpodcast


Contact The SPAC Podcast:

https://www.thespacpodcast.com/contact/

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Disclaimers:

The views, opinions, and statements expressed by the guest are solely their own and do not necessarily reflect the views of The SPAC Podcast, its hosts, or affiliated organizations. This content is for informational purposes only and should not be construed as investment, legal, tax, or accounting advice.

Michael J. Blankenship is a licensed attorney and is a partner at Winston & Strawn LLP. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is intended for informational and educational purposes only and should not be interpreted as legal, financial, or compliance advice. The views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the official policies or positions of any regulatory agency, law firm, employer, or organization.

Listeners are encouraged to consult their own legal counsel, compliance professionals, or financial advisors to ensure adherence to applicable laws and regulations, including those enforced by the SEC, FINRA, and other regulatory bodies. This podcast does not constitute a solicitation, offer, or recommendation of any financial products, securities transactions, or legal services.

Let’s Connect on LinkedIn:

👉 Michael J. Blankenship - https://www.linkedin.com/in/mikeblankenship/

👉 ...

Mike Blankenship:

So is D&O insurance customizable?

Chaz:

Absolutely. Words matter. For example, when a SPAC transitions into a de-SPAC, the policy must include reverse merger wording. If it doesn’t, claims have been denied because the carrier only referenced IPOs, not reverse mergers. That single omission left teams exposed.

D&O insurance is incredibly customizable, especially for actively traded post-de-SPAC companies. Just recently, we worked with a client that went public a year ago. I hired one of the top D&O coverage attorneys in America to audit their D&O tower. We uncovered 37 deficiencies in their policy wording and corrected all but one, without increasing their premiums from the prior year.

That’s the power of negotiation, customization, and precise wording in D&O coverage.