Reciprocal of America

The Virginia Commissioner of Insurance has been accused of wrongfully seizing $57 million that allegedly belongs to insolvent Bermuda based captive First Virginia Reinsurance.Alfred W. Gross, as Deputy Receiver of Reciprocal of America and The Reciprocal Group Inc., allegedly illegally

Section 304 Petition for Assistance in Insolvency Proceedings in Bermuda by Malcolm Butterfield and Michael Morrison, as the Foreign Representatives of First Virginia Reinsurance Ltd., at the U. S. Bankruptcy Court for the Eastern District of Virginia.

Bermuda-based captive First Virginia Reinsurance Ltd. has been named as a defendant in four class action lawsuits filed in the United States on behalf of thousands of physicians, hospitals, clinics and attorneys. The lawsuits are on behalf of all parties in the U. S. who bought malpractice liability insurance coverage through Reciprocal of America, now in receivership, and/or affiliated parties from January 1, 1991 to January 31, 2003.