Cain has a particular focus on high value, complex D&O, professional indemnity and financial institutions coverage and defence work. Large multi-national insurers, the Lloyd’s insurance market and ASX-listed financial services groups engage Cain for his concise, commercial and strategic advice.
He has been described by industry commentators as “one of the most impressive people” operating within the insurance industry who also praise the way he handles D&O, liability and professional indemnity issues and his “huge involvement in class action matters.”
Cain has acted in many high-profile class actions, including TPT v Myer, the first securities class action to run to judgement in Australia. He is currently retained by primary insurers to advise on some of Australia’s largest securities class actions as well as acting in a defence or coverage role in numerous high-profile directors and officers and professional indemnity claims.
Cain leads the firm’s national Financial Lines practice and is also a member of the firm’s board.
Class Actions
- Currently acting for the primary D&O insurers in numerous securities class actions across the country including Australia’s two largest.
- Advising the primary D&O insurer in the Myer litigation, Australia’s first securities class action to run to judgement and the leading authority in this area.
- Acting as coverage counsel for the primary D&O insurer in the high-profile securities class actions against Slater & Gordon Limited. This litigation involved a novel settlement which combined cutting edge insolvency law with class action and insurance principles.
- Acting for a global insurer in providing coverage, monitoring and strategic advice about the management a group of more than 50 securities class actions in the U.S.
Directors & Officers
- Acting as defence counsel for the former chairman of United Petroleum in United Petroleum v Herbert Smith Freehills.
- Acting as coverage counsel for the primary D&O insurer in a dispute over a AUD1.5 billion acquisition by a global corporation from private equity.
- Acting as defence counsel for a corporate advisory practice in its role as adviser in an ASX-listing in three Supreme Court proceedings brought by the receivers and liquidators of an aged care retirement trust for AUD100+ million.
- Acting as defence counsel for the auditors of collapsed agribusiness giant, Willmott Forests Limited.
Financial Institutions & Professional Indemnity
- Acting for the financial institutions insurers of collapsed stockbroking firm, BBY.
- Acting for financial institutions and professional indemnity insurers in respect of various managed investment scheme or financial product collapses including Westpoint, Ltd Capital, Trio Capital, Willmott Forests, Timbercorp, Great Southern and Arafura Pearls.
- Acting for reinsurers of several of the “Big 4” banks in respect of alleged product misselling.
- Acting for investment manager insurers regarding a AUD55 million action involving the implementation of al allegedly defective IT system.
- Class Actions
- Directors + Officers Liability
- Financial Institutions
- Professional Liability
- Financial Institutions + Services
- Professions + Business Services
- Australian Insurance Law Association
- Australian Professional Indemnity Group
- Law Institute of Victoria