Tennessee Sets Deadline for Claims Against 3 Shuttered Insurers

A Tennessee judge has set May 16 as the final date to resolve all outstanding claims against three insolvent risk retention groups that were closed in 2003 after the failure of their Virginia reinsurer, Reciprocal of America. Three Tennessee companies – the American National Lawyers Reciprocal, the Doctors Insurance Reciprocal and the Reciprocal Alliance– were risk-retention groups that reinsured virtually all their business with Reciprocal of America (ROA), a Glenn Allen, Virginia-based company that was placed in receivership in January, 2003 after regulators discovered...