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Commitments and Contingencies Disclosure [Text Block]
9 Months Ended
Sep. 30, 2017
Notes  
Commitments and Contingencies Disclosure

Note 14.    Contingencies 

 

A third party administrator with whom we formerly did business (“Plaintiff”) filed a Complaint dated May 17, 2017 in the United States District Court, Northern District of Texas, Dallas Division, naming IHC, Madison National Life, Standard Security Life, and IHC Carrier Solutions, Inc. (collectively referred to as “Defendants”). The Complaint concerns agreements entered into by Standard Security Life and Madison National Life with Plaintiff, as well as other allegations made by Plaintiff against the Defendants.  The Complaint seeks injunctive relief and damages in an amount exceeding $50,000,000, profit share payments allegedly owed to Plaintiff under the agreements totaling at least $3,082,000 through 2014, plus additional amounts for 2015 and 2016, and exemplary and punitive damages as allowed by law and fees and costs.  The Defendants moved to Compel Arbitration and Dismiss or Stay the original Complaint.  The Plaintiff filed an Amended Complaint on August 18, 2017.  The Defendants filed a Motion to Compel Arbitration or Stay the Amended Complaint, which is still pending. In the fourth quarter of 2017, Madison National Life agreed to pay fines in the state of Texas primarily related to the claims payment practices of the Plaintiff.