Cal-Regent Says it Has Adequately Pled Counterclaims of Setoff in Dispute with Odyssey Re

HARTFORD, Conn. — Cal-Regent Insurance Services Corp. is arguing that it has adequately pled its counterclaims for setoff, which were asserted in response to a lawsuit in which Odyssey America Reinsurance Corp. is seeking $2.74 million in commission adjustments.

In its Sept. 26 reply to Odyssey Re’s motion to dismiss its counterclaims, Cal-Regent maintains that its counterclaim arises from claims already brought on behalf of Odyssey Re by State National Insurance Co. in an ongoing arbitration against Cal-Regent that could result in double recovery by Odyssey Re.

In April 2002, Cal-Regent agreed to underwrite certain risks on behalf of State …