Travelers Urges Conn. Federal Judge to Lift Stay in Dispute with Excalibur

HARTFORD, Conn. — Travelers is urging a Connecticut federal judge to lift a stay in its reinsurance coverage dispute with Excalibur Reinsurance Corp., arguing that Excalibur’s financial condition continues to worsen and the parties have resolved all discovery issues.

In a Feb. 28 brief filed in the U.S. District Court for the District of Connecticut, Travelers asserts that all but two of the pending motions have been resolved, and the remaining unresolved motions involve preliminary matters.

Two insurers sued an insurance/reinsurance broker for losses they allegedly sustained in connection with the PA LMX Spiral. The broker sought coverage under an …