Pa. Federal Judge Refuses to Enjoin Select Insurance From Proceeding With Conn. Action

PHILADELPHIA — A Pennsylvania federal judge has denied Excalibur Reinsurance Co.’s motion to enjoin Select Insurance Co. from proceeding with a reinsurance action in Connecticut, ruling that Excalibur has not shown that it will be irreparably harmed by being forced to post security in that action.

In the June 2 order, Judge Juan R. Sanchez of the U.S. District Court for the Eastern District of Pennsylvania explained that if Excalibur is required to post security, “any resultant harm is not irreparable as Excalibur would presumably recover the funds posted if judgment is entered in its favor.”

Excalibur was one …