Independence Holding Company Announces the Collection of an Arbitration Award
September 09 2020 - 10:37AM
Independence Holding Company (NYSE: IHC) today reported that it has
now collected in excess of $5.6 million on the previously announced
arbitration award proceeding against a third party administrator
with which we formerly did business. IHC will record this award and
include it in its third quarter earnings.
About The IHC Group
Independence Holding Company (NYSE: IHC), formed
in 1980, is a holding company that is principally engaged in
underwriting, administering and/or distributing group and
individual specialty benefit products, including disability,
supplemental health, pet, and group life insurance through its
subsidiaries (Independence Holding Company and its subsidiaries
collectively referred to as “The IHC Group”). The IHC Group
consists of three insurance companies (Standard Security Life
Insurance Company of New York, Madison National Life Insurance
Company, Inc. and Independence American Insurance Company). We also
own the following agencies: (i) PetPartners, Inc., our pet
insurance administrator; (ii) IHC Specialty Benefits, Inc., a
technology-driven full-service marketing and distribution company
that focuses on small employer and individual consumer products
through its call center, career agents, and Independence Brokerage
Group; and (iii) The INSX Cloud Platform through My1HR, our wholly
owned Web Based Entity. Our InsureTech division is comprised of our
call centers, field and career agents, in-house MarTech artificial
intelligence capabilities and domains, including
www.healthedeals.com; www.healthinsurance.org;
www.medicareresources.org; www.petplace.com;
www.mypetinsurance.com; and www.tailtrax.com.
Forward-looking Statements
Certain statements and information contained in
this release may be considered “forward-looking statements,” such
as statements relating to management's views with respect to future
events and financial performance. Such forward-looking
statements are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from
historical experience or from future results expressed or implied
by such forward-looking statements. Potential risks and
uncertainties include, but are not limited to, economic conditions
in the markets in which IHC operates, new federal or state
governmental regulation, IHC’s ability to effectively operate,
integrate and leverage any past or future strategic acquisition,
and other factors which can be found in IHC’s other news releases
and filings with the Securities and Exchange Commission. IHC
expressly disclaims any duty to update its forward-looking
statements unless required by applicable law.
CONTACT: Loan
Nisser(646)
509-2107www.IHCGroup.com
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