Vulture Culture

Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry

Eric D. Gerst (Autor)

Buch | Hardcover

256 Seiten

2008
Amacom (Verlag)
978-0-8144-0026-5 (ISBN)

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We all dutifully write out checks for insurance coverage each month, assuming that if the worst should occur, we'll be protected financially. But what we don't know about the insurance business could - and most probably will - hurt us. This book gives an account of an industry on the brink of collapse, and what must be done to fix it.

We all dutifully write out checks for insurance coverage each month, assuming that if the worst should occur, we'll be protected financially. But what we don't know about the insurance business could - and most probably will - hurt us. "Vulture Culture" is a hard-hitting expose of the sorry state of the industry, from tales of rampant, widespread corruption to inconsistent state regulations and the inability - and often unwillingness - of the federal government to protect the rights of denied claimants.The book takes readers into a world of bid-rigging, fraudulent commissions, and secret payoffs, revealing shocking abuses and ominous new trends. Readers will hear about a rogue's gallery of shady executives, including a CEO whose massive claim denial schemes eventually got him fired ...at great cost to consumers. From the Hurricane Katrina fiasco of unpaid claims, to a revolving door in which former insurance executives regulate their own industry before returning to it themselves, this is a shocking account of an industry on the brink of collapse, and what must be done to fix it before it's too late.

ERIC D. GERST (Newtown Square, PA) has practiced law nationwide for more than 25 years, with a specialty in insurance law. In addition to testifying before Congress on insurance industry abuses, he has represented corporations and individuals involved in the insurance business, as well as those outside of it.

Contents Acknowledgments Part One: The Crisis Introduction Chapter 1The Crisis: A Long Time Coming Chapter 2How the Industry Got Where It Is: A Rogues' Gallery Chapter 3How the Industry Got Where It Is Today: Unpaid Claims and the Storm after Hurricane Katrina Chapter 4How the Industry Got Where It Is Today: Foreign Takeovers, Unregulated Reinsurers, Insurer and Claimant Fraud Chapter 5The View from Outside: A Report Card on State Regulation Chapter 6 Trends: The Next Decade Chapter 7The Public Uproar and a Crescendo of Distrust Part Two: The Solution Chapter 8 Fifty Nonuniform State Fiefdoms Chapter 9 Winds of Change: How to Improve the Industry Chapter 10The Solution: UFOIL-A Two-Step Process of Consumerization and Federalization Index About the Author

Erscheint lt. Verlag	16.4.2008
Zusatzinfo	Illustrations, map
Verlagsort	New York
Sprache	englisch
Maße	165 x 235 mm
Gewicht	516 g
Themenwelt	Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Versicherungsbetriebslehre
ISBN-10	0-8144-0026-4 / 0814400264
ISBN-13	978-0-8144-0026-5 / 9780814400265
Zustand	Neuware