STORY FROM: Reinsurance & Arbitration

Odyssey Re Moves for Summary Judgment Against Former Cal-Regent Owners

SAN DIEGO — Odyssey Reinsurance Co. has moved for summary judgment against the former owners of Cal-Regent Services Corp., seeking payment of a $3.2 million judgment issued in its favor against the brokerage in 2015.

In a July 27 brief filed in the U.S. District Court for the Southern District of California, Odyssey Re says the former owners, Richard and Diane Nagby, schemed to avoid paying the judgment by transferring their business from one corporation to another, and then quickly selling the same business for cash.

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

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