Frontier Insurance Group, Inc. and Physicians' Reciprocal Insurers Re-Announce Signing of Brokerage Agreements

Business Wire, May 23, 2001

Business Editors

ROCK HILL, N.Y.--(BUSINESS WIRE)--May 23, 2001

Medical Professional Liability Agency, Ltd (Med Pro) a subsidiary of Frontier Insurance Group, Inc. (OTCBB-FTER), and Physicians' Reciprocal Insurers (PRI), previously announced they have entered into two Agreements with respect to medical and dental malpractice insurance in the states of New York and Pennsylvania.

The Agreement with respect to the medical malpractice insurance is a standard brokerage Agreement while the Agreement with respect to the dental malpractice insurance is a Servicing Agreement whereby Med Pro provides significant services to PRI, with PRI retaining the ultimate binding authority. It was previously incorrectly announced that the Agreement with respect to medical and dental malpractice was categorized as an MGA Agreement.

Med Pro and PRI are leaders in medical malpractice insurance and risk management servicing physicians and dentists and will work together to provide primary and excess insurance coverages, risk management, claims and legal services to physicians and dentists in the State of New York.

Specific questions about malpractice insurance, or a need for coverage, can be addressed by calling Med Pro at 800-822-8260.

Special Note Regarding Forward-Looking Statements

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") which are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. The words "believes," "anticipates," "expects" and similar expressions are intended to identify forward-looking statements which include, but are not limited to statements about the affiliation between PRI and Med Pro. Such risks and uncertainties include, but are not limited to, the following: (i) the continued viability of Frontier Insurance Group; (ii) the ability to recapture the market share; and (iii) the ability to identify strategic options that would enable Frontier to continue its insurance business.