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Experience
Andrew McGahey has extensive experience advising insurers on policy matters relating to financial institutions insurance, including high-profile and complex first-party loss and third-party misselling claims within the English jurisdiction and overseas. These have included the split-capital investment fund crisis and, more recently, claims arising from the “credit crunch.”
Andrew also has significant experience involving Directors and Officers (D&O) insurance and has advised insurers on policy coverage issues relating to claims worldwide. In addition, he advises professional indemnity insurers on claims brought by a variety of professionals including solicitors, accountants, surveyors, planned preventative maintenance service providers, insurance brokers and trustees both in the United Kingdom and offshore. A significant part of that advice relates to policy coverage issues as well as conducting the defence of third-party claims.
Andrew joined Mayer Brown in 1998 and was promoted to partner in 2009. His time with the firm has included seven months as an Assistant to the European General Counsel to the Lear Corporation in Frankfurt, and a four-month secondment to AIG.
Notable Engagements
- Defending and settling legal proceedings brought by Barrow-in-Furness public authority against Interserve, a planned maintenance provider, arising out of an outbreak of Legionnaire’s disease in NW England which led to the death of seven people. Also responsible for advising both Interserve and its insurers on the impact of parallel criminal proceedings brought against the public authority and an employee for corporate manslaughter, manslaughter and breaches of the Health and Safety at Work Act 1974.
- Advising professional indemnity insurers on policy issues arising from a claim involving an investment fund manager for alleged breaches of investment mandates exposed by the “credit crunch.”
- Representing insurers in an arbitration on policy coverage matters, including aggregation issues and market abuse exclusions, arising from the collapse of the Splits Capital Closed End Fund sector of the financial markets and achieving a favourable settlement for insurers.
- Advising London market insurers in a dispute with a leading European financial institution arising from a US$600 million first-party loss claim caused by the allegedly fraudulent activities of an employee and a further notification involving the potential systemic misselling of endowment-type products to the public.
- Advising facultative reinsurers on policy issues in respect of a €30 million first-party loss claim by an Italian bank caused by the allegedly fraudulent actions of the bank’s employee.
- Acting for insurers in Italian legal proceedings in a multi-party dispute between insurers, brokers and the insured bank relating to the scope of cover available under the bank’s professional indemnity policy for liabilities arising from the flotations of two “dot.com” companies.
- Defending a professional negligence claim against an accountancy firm which had advised on minimising Capital Gains Tax liability.
Education
The College of Law, Guildford, LPC • Durham University, LLB (Hons), 1997
Admitted
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