American Independence Corp. to Ring Closing Bell at NASDAQ
NEW YORK, Nov. 1, 2012 (GLOBE NEWSWIRE) -- American Independence Corp.
(Nasdaq:AMIC) will preside over the closing bell at the NASDAQ stock market on
November 12, 2012, marking the company's expansion into new, niche markets,
including pet insurance with partner Pets Best Insurance Services, LLC ("Pets
Pets Best will act as guest of honor at the event, with Greg McDonald, chief
executive officer, and its founder, Dr. Jack Stephens and his Chihuahua,
Torrey, ringing the closing bell, along with Jeff Smedsrud, president of
American Independence Corp ("AMIC").
"AMIC strives to be an innovator in unique insurance markets, offering
customized and online solutions, either direct-to-consumers or through agents
exclusive to our companies," said Smedsrud. "NASDAQ is the perfect venue for
us to celebrate our growth and welcome new partnerships within the AMIC
Also attending with AMIC leadership are leaders from IHC Risk Solutions, LLC,
Independent Producers of America, LLC, IHC Specialty Benefits, Inc., plus
online companies healthinsurance.org, LLC, dentalinsurance.org and
The North American pet insurance market grew 114% between 2005 and 2009 and is
expected to grow an average of 20% annually through 2014. ^1 At this rate, the
North American pet insurance market will grow to over $880 million by the end
of 2014.^2 In 2012 alone, it is projected that veterinary spending will top
over an 8 percent increase to $13.59 billion from previous years.^3 Pets Best
is the fourth largest pet insurance company in the U.S. and has had 20 percent
yearly sales increases since 2005.^4
"We are honored to join AMIC in New York City to represent the pet insurance
industry, our dedicated staff and our policyholders nationwide," said
Stephens. "Pet insurance is experiencing rapid growth in the United States. We
are thrilled to showcase, on a national platform, the unique, affordable plans
that we offer pet parents."
Stephens is recognized as the founder of pet insurance in the United States,
and issued the first pet insurance policy to TV dog Lassie in California in
A live stream of the NASDAQ closing bell ceremony will be available beginning
at 3:45 p.m. Eastern Standard Time.
About American Independence Corp.
AMIC, through Independence American Insurance Company and its other
subsidiaries, offers health insurance solutions to individuals and employer
groups. AMIC provides to the individual and self-employed markets health
insurance and related products, which are distributed through its
subsidiaries, IHC Risk Solutions, LLC, Independent Producers of America, LLC,
IHC Specialty Benefits, Inc. and healthinsurance.org, LLC. AMIC is a member of
The IHC Group.
About The IHC Group
The IHC Group is an organization of insurance carriers, and marketing and
administrative affiliates that has been providing health, life, disability,
dental, vision and medical stop-loss insurance solutions to groups and
individuals for over 30 years. With over $1.3 billion in assets as of March
2012, members of The IHC Group include Independence Holding Company
(NYSE:IHC), American Independence Corp. (Nasdaq:AMIC), Standard Security Life
Insurance Company of New York, Madison National Life Insurance Company, Inc.
and Independence American Insurance Company. Each insurance carrier in The IHC
Group has a financial strength rating of A- (Excellent) from A.M. Best
Company, Inc., a widely recognized rating agency that rates insurance
companies on their relative financial strength and ability to meet
policyholder obligations. Collectively, the companies in The IHC Group provide
insurance coverage to more than one million individuals and groups. For more
information about The IHC Group, visit www.ihcgroup.com.
About Pets Best
With the goal of reducing economic euthanasia and his commitment to the health
and well-being of all pets, Pets Best Insurance Services, LLC president Dr.
Jack Stephens founded pet insurance in the United States in 1981. A true
industry visionary, Dr. Stephens presented the first pet insurance policy to
famous television dog Lassie. Dr. Stephens leads the Pets Best Insurance team
with his passion for quality pet health care and his expert veterinary
knowledge. The Pets Best Insurance team is comprised of pet lovers who strive
to deliver quality customer service and value.
Pet insurance plans offered and administered by Pets Best Insurance Services,
LLC are underwritten by Independence American Insurance Company, a Delaware
insurance company. In states in which Independence American Insurance
Company's new policy form has not yet received regulatory approval, Aetna
Insurance Company of Connecticut will underwrite policies. Each insurer has
sole responsibility for its own products. To determine the applicable
underwriter in your state visit www.petsbest.com/underwriter or call Pets Best
For more information, visit Pets Best Insurance at www.petsbest.com or call
^1 Packaged Facts, Pet Insurance in North America, 4^th Edition, November
^2 Packaged Facts, Pet Insurance in North America, 4^th Edition, November
^3 Industry statistics & Trends in 2012. American Pet Products Association.
^4 More Owners Buy Pet Insurance for Furry Pals. Sarah Meehan. USA Today.
March 7, 2012.
CONTACT: JEFF SMEDSRUD
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