SACRAMENTO, March 26, 2001 — InsWeb Corp. (Nasdaq: INSW) said today it has responded to recent allegations and legal action taken by eHealthInsurance Services Inc. In a filing with the U.S. District Court, Northern District of California, San Jose Division, on March 22, 2001, InsWeb denied earlier allegations that it breached an online-distribution agreement with eHealthInsurance, and counter sued for damages caused by eHealthInsurance’s early and improper termination of their agreement.
In a news release issued Feb. 21, 2001, InsWeb announced that it temporarily suspended online health-insurance quoting. InsWeb said the suspension was due to the decision by eHealthInsurance, formerly the Company’s exclusive provider of online health-insurance quotes, to unilaterally terminate their relationship.
InsWeb, the top-rated online insurance marketplace, enables Internet consumers to compare free, multiple quotes sponsored by more than 40 insurers. Featuring auto, term life, homeowners, renters and condominium insurance offerings, InsWeb provides live customer service, interactive tools and research capabilities, and is accessible from leading sites, such as Yahoo!, MSN, Quicken.com, Netscape and NBCi.com. Headquartered in Sacramento, Calif., InsWeb is accessible at www.insweb.com.
“INSWEB” is a registered service mark of InsWeb Corporation. All marks above are those of InsWeb Corporation, except for those of insurance carriers, brokers, agents, industry organizations, financial institutions, online partners, service providers, other mentioned companies and educational institutions, which are the marks of their respective entities.