Conn. Federal Judge Agrees to Continue Pre-Pleading Security Hearing Pending Negotiations

HARTFORD, Conn. — A Connecticut federal judge has granted a joint motion by Excalibur Reinsurance Corp. and Select Insurance Co. to continue until Oct. 14 a hearing to set the amount of pre-pleading security Excalibur must post.

In a Sept. 14 motion, the parties explained that Excalibur’s chief liquidation officer is negotiating with Select in an effort to resolve the case in its entirety. Judge Jeffrey A. Meyer of the U.S. District Court granted the motion the same day, without comment.

Select Insurance Co.’s insured, Ernst & Young, was sued by customers alleging improprieties in its tax advice. Select paid …