After a prolonged lull, special purpose acquisition companies (SPACs) are making a strong return to the capital markets in 2025. Their resurgence brings with it both opportunity and heightened litigation risk, according to AON, putting directors’ and officers' (D&O) insurance firmly back under the spotlight. For insurers and reinsurers — particularly those in Bermuda, a hub for specialty risk solutions — the revival underscores the need for innovative, carefully structured coverage.