Vulture Culture

Download or read book Vulture Culture written by Eric D. GERST and published by AMACOM Div American Mgmt Assn. This book was released on 2008-04-23 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 exposé 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.