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FOREMOST INSURANCE COMPANY CORRECTS INACCURATE REPORTS ON SALES RESTRICTIONS IN EIGHT MASSACHUSETTS MOBILE HOME PARKS

 FOREMOST INSURANCE COMPANY CORRECTS INACCURATE REPORTS
 ON SALES RESTRICTIONS IN EIGHT MASSACHUSETTS MOBILE HOME PARKS
 CALEDONIA, Mich., Feb. 5 /PRNewswire/ -- The following was released today by Foremost Corporation of America (NASDAQ-NMS: FCOA):
 As a result of inaccurate reports of Feb. 4 and 5, we'd like the opportunity to correct the record in regard to Foremost Insurance Company's insurance policy sales restrictions on eight Massachusetts mobile home parks.
 The facts are as follows:
 -- Foremost Insurance Company will continue to provide mobile home insurance to its current customers and will continue to renew their policies as they expire. We do not intend to stop writing policies in these parks altogether, but rather will not accept new customers in these eight parks until the future of these parks is determined.
 -- In November 1991, we did notify agents in this part of Massachusetts that we would not accept new policyholder applications from residents of the eight mobile home parks where there have been signs posted notifying residents that the parks will close by September 1993.
 -- It has never been our intention to abandon those park residents who are currently Foremost customers. This was explained to our agents last November. We expect our decision to affect very few people, since it's unlikely new residents will move into a park that is closing before the end of 1993.
 -- Should circumstances change and the parks remain open, we would review our decision.
 -- The real issue appears to be a dispute between park owners, the rent control board and the park residents. Foremost is not a party to this dispute and has no comment on the dispute.
 -0- 2/5/92
 /CONTACT: Ruth S. Walker of Foremost Corporation of America, 616-956-8895/
 (FCOA) CO: Foremost Insurance Company; Foremost Corporation of America ST: Michigan, Massachusetts IN: INS SU:


SM -- DE017 -- 7222 02/05/92 13:13 EST
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Publication:PR Newswire
Date:Feb 5, 1992
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