Bellamy bids to “set the record straight” over DAS departure

Bellamy: appalled by press reports

Bellamy: appalled by press reports

Phil Bellamy, a well-known figure in the after-the-event insurance world, has spoken out “to set the record straight” over his departure from DAS.

Mr Bellamy, who worked for DAS for 26 years and was most recently group underwriting, ATE and special risks manager, claimed that the confidentiality provisions of his settlement agreement had been breached after the insurance press reported his departure from the company following a suspension.

In a statement issued last week, he said: “I was appalled to read various articles about myself in the insurance trade press and on social media concerning my departure from DAS and a reference to my suspension and an ongoing investigation.”

He said the suspension was ordered while DAS investigated “a split commission arrangement” entered into with a “major PI law firm” more than five years ago. He said his involvement was relatively peripheral and that all decisions were taken by more senior managers.

Mr Bellamy, who said he had an unblemished disciplinary record, added: “My own conduct, and adherence to underwriting rules and procedures, as evidenced by numerous senior DAS witnesses (including the former CEO) during the investigation, was impeccable.”

He called on DAS to disclose the full results of the investigation “and to refer the arrangement to the appropriate regulator, if they are concerned about its legitimacy. I am confident that if they do so, I will be fully exonerated”.

It is understood that another member of staff has also been suspended over the issue, but it is not known whether they are still with DAS.

DAS declined to comment.

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