Vulture Culture
Subtitle: Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry
Publisher: AMACOM/American Management Association
Published: February 28, 2008
Language: eng
Format: Hardcover
Number of pages: 256
ISBN-13: 9780814400265
Subjects: Insurance; Business & Economics; Business / Economics / Finance; Business/Economics; Insurance - Business; Insurance - General; Corrupt practices; Insurance law; United States
Description: "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."--Jacket.