Insurers May Give Banks Cold Shoulder After Libor Scandal

Law360, New York (July 18, 2012, 10:04 PM EDT) -- As insurers brace for potentially staggering claims from the still-unfolding London Interbank Offered Rate scandal, they are likely mulling new ways to limit coverage for large banks, a sector already viewed as unpalatable by many insurance companies, experts say.

U.S. and U.K. regulators are intensifying probes into the banking industry after Barclays PLC agreed last month to shell out $450 million to settle charges that it made false reports and tried to manipulate Libor and the Euro Interbank Offered Rate, interest rate benchmarks that are relied...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.