Maryland and Virginia are both members of the Drivers License Compact (DLC) and Non-Resident Violator Compact. The DLC allows Virginia to send information concerning your conviction of reckless driving back to the MVA in MD. Membership in the Violator Compact means that if you were to not take care of the VA ticket properly, Maryland could suspend your license until you did so.
Virginia has many driving offenses that the state considers to be reckless driving, including speeding over the speed limit by 20 mph or more. This is also worth 6 points in VA. Reckless driving can be found to be either a misdemeanor or felony in Virginia.
If your speeding/reckless driving ticket is classified as a class one misdemeanor it could be punishable by up to 1 year in jail and/or, up to the $2500 in fines and/or up to 6 months license suspension. Jurisdictions differ on penalties for the various reckless driving charges so you will need to check with the court to see what penalties might apply to you.
The court will be able to tell you if you must show up for court or can plead guilty and pay a fine without showing up. If they say that court is mandatory, than you will have to drive the 70 miles for the court date. In many VA jurisdictions one must appear in court to take care of the ticket since jail time is a possible penalty you might receive. The site www.courts.state.va.us might be of help to you.
The Maryland handbook notes that out of state offenses will be treated in the same manner as if the offense occurred in MD and reported on your MD driving record. You will need to find out from the Maryland Motor Vehicle Administration if points will be assessed - if yes, ask if you will get 2 points for speeding or 6 points for reckless driving.
While this information may not be forwarded directly to your insurance company, once the violation is placed on your Maryland driving record your insurance provider will be able to see it next time they pull your MVR.