False Security: Greed & Deception in America's Multibillion-Dollar Insurance Industry - Hardcover

Myers, Kenneth D.

Hardcover

ISBN 10: 0879759283 ISBN 13: 9780879759285

Verlag: Prometheus, 1995

Inhaltsangabe

Insurance is affordable protection for ourselves, our loved ones, and our belongings. As most people maintain some kind of insurance, it is also an extremely lucrative industry, generating billions of dollars annually. Investigative reporter Kenneth D. Meyers thinks that the profits have turned the insurance industry into a bad business.
In False Security, Myers chronicles numerous untold abuses of the insurance industry-exposing the inside story of bad investments, naive executives, bilked clients, collapsed companies, and staggering financial losses. He paints a frightening picture of greed, incompetence, and corruption that rivals the savings and loan scandal in scope. Myers reveals how insurance executives jeopardized their companies by trying to price gouge the competition out of business, only to go under themselves. Myers writes of the many hostile takeovers, the extravagant use of stolen profits, the many tax "safe havens," squandering millions of dollars by executives who failed at one company after another.
The result of thousands of hours of investigation and many interviews, False Security outlines never-before-reported details of greed, and corruption gathered from state and federal prosecutors, industry officials, and the criminals themselves, some in prison and others free and now involved in other questionable enterprises, many of whom will be familiar from the savings and loan scandal.

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By Kenneth D. Myers

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To most of us, insurance represents a secure investment that provides affordable, dependable protection. Author Kenneth D. Myers believes that this lucrative industry is a business going bad. In False Security, Myers chronicles the abuses of the insurance industry, exposing the inside story of bad investments, unscrupulous or naive executives, bilked clients, collapsed companies, and staggering financial losses. What emerges from this expose is an alarming picture of incompetence, greed, and corruption. Myers reveals how experienced insurance executives jeopardized their companies by trying to price-gouge the competition out of business, only to go under themselves. He looks at hostile takeovers, the extravagant use of ill-gotten profits, the many income-tax "safe havens", and the squandering of millions of dollars by executives who failed at one company after another and eventually fled the country. The result of thousands of hours of investigation and many interviews, False Security outlines never-before-reported details of greed and corruption gathered from state and federal prosecutors, industry officials, and the criminals themselves. Some of the perpetrators were also involved in the savings-and-loan scandal and today are in prison, but others are free, still pursuing questionable enterprises.

Details zur Ausgabe

• Verlag: Prometheus
• Erscheinungsdatum: 1995
• Sprache: Englisch
• ISBN 10: 0879759283
• ISBN 13: 9780879759285
• Einband: Gebundene Ausgabe
• Anzahl der Seiten: 288
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Simon and Schuster Netherlands BV; info@simonandschuster.nl; ; Herculesplein 96; Utrecht; 3584 AA; Niederlande