STORY FROM: Reinsurance & Arbitration
Odyssey Re Awarded $459,197 in Interest, Attorneys’ Fees in Reinsurance Commissions Dispute
December 9, 2015
BRIDGEPORT, Conn. — A Connecticut federal judge has awarded Odyssey Reinsurance Corp. $459,197.30 in prejudgment interest and attorneys’ fees in a dispute involving adjusted reinsurance commissions owed by Cal-Regent Insurance Services Corp.
According to an order issued by Judge Victor A. Bolden of the U.S. District Court for the District of Connecticut, the parties agreed that the court’s October judgment awarding $2,740,802.61 to Odyssey Re “shall be final and non-appealable.”
Odyssey Re entered into four consecutive two-year Garage Liability Quota Share Reinsurance Agreements with Cal-Regent, which underwrote auto and garage liability coverage on behalf of State National Insurance Company ...
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