STORY FROM: Reinsurance & Arbitration

Conn. Federal Judge Rejects Excalibur’s Objection to Pre-Pleading Security Ruling

HARTFORD, Conn. — A Connecticut federal judge has overruled Excalibur Reinsurance Corp.’s objection to a magistrate judge’s holding that a foreign insurer may invoke Connecticut’s pre-pleading security statute, ruling that the reinsurer’s objections lacked merit.

In a June 7 docket text order, Judge Jeffrey A. Meyer of the U.S. District Court for the District of Connecticut adopted Magistrate Judge Joan Margolis’ rulings granting Select Insurance Co.’s motion for the posting of pre-pleading security. Judge Meyer asked Judge Margolis to schedule an evidentiary hearing to set the amount of security.

Select Insurance Co.’s insured, Ernst & Young, was sued by customers ...

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