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Books > Business & Economics > Finance & accounting > Finance > Insurance
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False Security - Greed and Deception in America's Multibillion-Dollar Insurance Industry (Hardcover)
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False Security - Greed and Deception in America's Multibillion-Dollar Insurance Industry (Hardcover)
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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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