Reinsurer Settles With Claims Processor Over Fraudulent Transfer Allegations

Mealey's (July 18, 2019, 10:47 AM EDT) -- SAN DIEGO — A California federal magistrate judge on July 16 confirmed a settlement reached between a reinsurer and claims processor and its CEO over allegations that they assisted in fraudulently transferring assets belonging to an insolvent insurance agency to avoid paying a $3.2 million judgment (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif.)....