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PMSC AND FLORIDA RESIDENTIAL PROPERTY AND CASUALTY JOINT UNDERWRITING ASSOCIATION SIGN MULTIYEAR AGREEMENT

 COLUMBIA, S.C., Sept. 7 /PRNewswire/ -- Policy Management Systems Corporation (PMSC) (NYSE: PMS) announced today that Florida Residential Property and Casualty Joint Underwriting Association (FRPCJUA) signed a multiyear, multimillion dollar agreement whereby PMSC will serve as a system administrator for the Joint Underwriting Association (JUA).
 FRPCJUA, an alternative distribution channel, provides a means by which homeowners in Florida who are not able to get homeowner's insurance through private carriers can secure insurance coverage on their property. To date, the FRPCJUA has written approximately 100,000 policies, a number that is expected to increase.
 Florida Insurance Consumer Advocate Steve Burgess said, "This agreement gives us an opportunity to provide services more directly through the JUA and gives us the centralized management function and consumer tracking system we've needed for several months now. This agreement allows us to be the insurance company the department of insurance expects us to be. We will be able to access information being input by the servicing carriers on an on-line bases. Basically, we'll have all data as it comes in just as an insurance company would if it were providing service in a voluntary market." Burgess said PMSC was recommended by a JUA ad hoc committee that placed a high priority on the capability to provide the services needed. A comprehensive search and evaluation process preceded PMSC's selection by the FRPCJUA.
 PMSC Executive Vice President Bernard C. Mazon said, "This agreement reinforces the direction we've taken in developing solutions and services for the industry. We clearly see an opportunity to further serve this particular marketplace as the need for our solutions and services grows. We're excited to be chosen and view selection as an excellent opportunity to further support the regulatory community."
 FRPCJUA currently uses eight servicing carriers to administer policies and claims. PMSC will establish, maintain and make available the system to be used as the central data repository for the servicing carriers and will provide administration and data processing services to help the underwriting association meet its goals for automation and customer service. PMSC's services will be provided out of the company's Columbia Data Center.
 PMSC, headquartered in Columbia, has more than 4,300 employees worldwide and is a leading provider of application software, related automation support and information services designed to meet the needs of the global insurance industry.
 -0- 9/7/93
 /CONTACT: John Hutto of PMSC, 803-735-5348/
 (PMS)


CO: Policy Management Systems Corporation ST: South Carolina, Florida IN: INS SU: JVN

WB-MP -- NY060 -- 9475 09/07/93 16:27 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
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