Insight and Intelligence on the London & International Insurance Markets 23 Sep 2017
D&O market could face Barclays fraud claim
- 27 June 2017
Any insurance claim stemming from the fraud allegations faced by UK banking giant Barclays would probably fall to the London directors' and officers' (D&O) market, The Insurance Insider understands.
Sources told this publication that even though a financial institutions (FI) crime policy would typically cover instances of fraud, the circumstances around this particular case meant the D&O market could pay out tens of millions of pounds.
Barclays, its former chief executive John Varley and three other ex-senior executives have been...
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