Excalibur Calls Select’s Motion to Strike Answer ‘Baseless, Presumptive and Premature’

HARTFORD, Conn. — Excalibur Reinsurance Corp. has opposed Select Insurance Co.’s motion to strike its answer in a reinsurance action, arguing that the court must first decide whether Connecticut’s pre-pleading security statute applies before Select can move to strike.

In a June 26 filing in the U.S. District Court for the District of Connecticut, Excalibur further argues that a hearing must be held before the court to determine whether the amount sought in security is proper and appropriate.

Ernst & Young was sued by plaintiffs alleging improprieties in its tax advice. Select says it paid nearly $5 million …