STORY FROM: Reinsurance & Arbitration

Select Opposes Excalibur’s Bid for Reconsideration of Conn. Pre-Pleading Security Ruling

HARTFORD, Conn. — Select Insurance Co. has opposed Excalibur Reinsurance Corp.’s motion for reconsideration of a ruling requiring it to post pre-pleading security in a $1.1 million reinsurance case, arguing that as a Connecticut citizen, Select is entitle to invoke the state’s pre-pleading security statute.

In its April 14 opposition filed in the U.S. District Court for the District of Connecticut, Select contends that Excalibur’s motion is merely another delay tactic and therefore should be rejected.

Ernst & Young was sued by plaintiffs alleging improprieties in its tax advice. Select allegedly paid nearly $5 million for the claims and billed ...

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