Insurer XL's London office, the lead market on Barclays Bank's directors' and officers' (D&O) cover, is likely to begin incurring defence cost claims on the programme as the recent Libor-fixing scandal continues to unfold.
The insurer is understood to have taken the lead position on the multi-hundred-million dollar cover in the 2011-12 insurance period, having won the account under stiff competition, according to sources.
Barclays, among other banks, is facing lawsuits as a result of the Libor-fixing allegations which resulted...
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