Select Insurance Opposes Excalibur’s Motion to Stay Connecticut Reinsurance Dispute

HARTFORD, Conn. — Excalibur Reinsurance Corp.’s motion to stay a Connecticut reinsurance action pending a Pennsylvania court’s decision as to which court hears the dispute "is unnecessary, unjustified and inequitable," according to Select Insurance Co.

In its June 26 opposition filed in the U.S. District Court for the District of Connecticut, Select argues that Excalibur has failed to provide any legitimate basis for delaying the Connecticut action.

Select reinsured policies issued by Gloucester Insurance Ltd. and RAM IIC Inc. to the accounting firm of Ernst & Young.

Select then obtained retrocessional coverage for its risk. The retrocessional contract, entitled “Accountants, …