STORY FROM: Reinsurance & Arbitration

Deponent Ordered to Produce Financial Records in Odyssey Re’s Fraud Lawsuit

SAN DIEGO — A California federal magistrate judge has ordered a third-party deponent to produce defendants’ tax and financial documents in a lawsuit accusing them of stripping an underwriting company of its assets in order to avoid paying a $3.2 million judgment obtained by Odyssey Reinsurance Co.

In a March 29 order, Judge William V. Gallo of the U.S. District Court for the Southern District of California held that the deponent’s objections to the subpoena were untimely, and that public policy outweighs the defendants’ privacy concerns.

Cal-Regent Insurance Services Corp. underwrote certain risks on behalf of State National Insurance Co. ...

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