Odyssey Re Sues Cal-Regent for $2.7 Million in Reinsurance Commissions

HARTFORD, Conn. — Odyssey Reinsurance Co. has sued Cal-Regent Insurance Services Corp. in federal court for more than $2.7 million in provisional commissions allegedly due under a quota share reinsurance agreement.

In the April 8 complaint filed in the U.S. District Court for the District of Connecticut, Odyssey asserts that Cal-Regent has breached the reinsurance agreement by refusing to pay a sliding scale commission for underwriting year 2006 and commission adjustments for years 2003, 2004, 2005 and 2007.

In April 2002, Cal-Regent agreed to underwrite certain risks on behalf of State National Insurance Co. Odyssey Re agreed to reinsure State …