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RISCORP APPROVED TO MARKET NEW CONTRACTORS' SELF-INSURANCE FUND IN MARYLAND

National Alliance For Risk Management To Provide Workers' Compensation Coverage For Construction Industry, Marketed Through Independent Agents

SARASOTA, Fla., March 8 /PRNewswire/ -- RISCORP, Inc. (Nasdaq: RISC), a leading managed care workers' compensation company, has gained state licensing approval to market and service the National Alliance for Risk Management (NARM Contractors' Fund of Maryland, a group self-insurance fund for providing workers' compensation coverage to construction and contracting business in Maryland.

The NARM Contractors' Fund of Maryland has six charter members generating an initial premium of approximately $350,000. The program will be marketed exclusively through RISCORP's statewide network of 33 independent insurance agencies.

The Maryland Insurance Administration granted the license on November 30, 1995. The NARM Contractors' Fund is available to any Maryland-based construction operation, as defined by the National Council on Compensation Insurance class codes and approved by the Maryland Insurance Administration.

Member services and underwriting for workers' compensation coverage in Maryland will be provided by RISCORP in its North Carolina office, which will be relocating to Charlotte on April 1, 1996. Claims processing will be handled through the RISCORP office in Baltimore, Maryland.

RISCORP, Inc. is a market leader in managed care workers' compensation. Its system stresses prompt medical intervention and integrated medical management to control cost, ensure appropriate care, and speed return to work for injured employees. Its products and services are marketed to businesses, associations, and public entities in nine states through a network of independent agents.

The RISCORP group of companies offer an integrated approach to the fall continuum of managed care, including managed care workers' compensation, property and casualty insurance, managed health care, and specialty managed care services to businesses, associations, and public entities of all sizes.
 -0- 3/8/96


/CONTACT: George Stolpe, ext. 5881 or Susan Russ, ext. 5840, 800-226-7472, both of RISCORP News Bureau/

(RISC)

CO: RISCORP, Inc. ST: Florida IN: INS SU:

KW-MS -- FLF018 -- 1730 03/08/96 16:58 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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