Odyssey Re Denied Summary Judgment in Dispute Over $2.4 Million in Reinsurance Commissions

BRIDGEPORT, Conn. — A Connecticut federal judge has denied Odyssey Reinsurance Co.’s motion for summary judgment in a dispute over $2.4 million in adjusted reinsurance commissions and granted defendant Cal-Regent Insurance Services Corp. leave to amend its answer.

On Aug. 20, Judge Victor A. Bolden of the U.S. District Court for the District of Connecticut found Cal-Regent has raised a possible genuine dispute of material fact as to whether Odyssey Re breached the reinsurance contract by paying $4 million to settle an underlying insurance claim.

Odyssey Re entered into four consecutive two-year Garage Liability Quota Share Reinsurance Agreements with Cal-Regent …