Beale & Co

Insurance/professional negligence

Damian specialises in professional liability claims. He has considerable experience of acting in claims against Independent Financial Advisers, investment managers, accountants, actuaries and other professionals associated with the financial services sector, as well as solicitors and insurance brokers. Damian also regularly advises insurers on all aspects of professional liability policy coverage. Recent and notable cases include:

• a claim against an IFA in relation to allegations of negligent advice in respect of investments in Arch Cru products (value: approx. £1.5m). Damian also negotiated with the FCA in respect of the proposed Arch Cru redress scheme;
• a claim made against an IFA in relation to allegations of negligent advice on the investment of the proceeds of a company sale (value: approx. £6m);
• a claim by corporate pension fund trustees alleging negligent advice by the fund’s former actuarial and investment advisers (value: approx. £10m);
• a claim against a global accountancy firm in connection with alleged negligent conduct as investment managers (value: approx. £4.5m); 
• recovery claims against around 50 IFAs by the Financial Services Compensation Scheme in respect of Keydata (Damian acted for 13 of the 14 lead case defendants in this major piece of litigation) (value: approx. £30 million).

Damian also undertakes other liability work for major insurers, under public liability policies, including product liability cases and claims arising out of property damage.

Damian’s experience includes cases dealt with by way of litigation, arbitration or through regulatory regimes, including referrals to the Financial Ombudsman Service. He is regularly involved in mediations and other forms of alternative dispute resolution.

Damian regularly gives talks on various issues of interest to the insurance and financial services industries, in-house counsel. He also contributes to various industry publications, including Insurance Day and Post magazine and is regularly quoted in the trade press.

Admitted England & Wales 1996; partner Beale & Company 2011.

Damian is a member of a number of professional bodies, including the British Insurance Law Association.

Universities of Southampton and Leuven, Belgium – LLB (with European Legal Studies).