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Pennsylvania Judge Orders Reinsurer Into Liquidation, Stays Related Actions

(August 2, 2016, 12:23 PM EDT) -- HARRISBURG, Pa. — A Pennsylvania judge on July 18 ordered Excalibur Reinsurance Corp. into liquidation and stayed all cases and actions involving the reinsurer regardless of the forum (Teresa D. Miller, Insurance Commissioner of the Commonwealth of Pennsylvania v. Excalibur Reinsurance Corporation, No. 1 ERC 2016, Pa. Cmwlth.).

(Order available. Document #10-160826-013R.)

Teresa D. Miller, Pennsylvania’s insurance commissioner, petitioned the Pennsylvania Commonwealth Court for an order liquidating Excalibur, and a hearing was held July 6.

Judge Mary Hannah Leavitt explained in her liquidation order that “Excalibur...
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