RD82 - Annual report on the Investments and Assets of the Virginia Birth-Related Neurological Injury Compensation Fund
In compliance with Virginia statute 38.2-5015, paragraph B and 38.2-5016, paragraph F, please find enclosed a complete report regarding the investments of the Virginia Birth-Related Neurological Injury Compensation Fund and a copy of our most recent audit.
For the year 2006, the Program's reserves grew by approximately $25 million to almost $185 million. Unfortunately, the Program is still considered actuarially unsound. The Board of Director's is working hard to correct this situation. As you may know, a stakeholders group including medical professions, insurance companies, claimant families and others met several times last year to begin developing legislative solutions. That group will resume meeting in the next few weeks.