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, naive executives, bilked clients, collapsed companies, and staggering financial losses - and paints a frightening picture of incompetence, greed, and corruption. He reveals how experienced insurance executives jeopardized their companies by trying to price gouge the competition out of business, only to go under themselves. Myers discusses the many hostile take-overs, the extravagant use of ill-gotten profits, the many income tax "safe havens', the executives who failed at one company after another, squandered millions of dollars, and eventually fled the country.
A result of thousands of hours of investigation and many interviews, False Security outlines never-before-reported details of sex violence, 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 names from the savings and loan scandal.
Kenneth D. Myers (New Orleans, LA) is an investigative reporter and practising attorney. His syndicated column "This Week in Louisiana" appears in many newspapers around that state. He has previously contributed to the Associated Press, United Press International, and many other national newspapers and magazines.
288 pages Publication date 21st September, 1995
ISBN 0-87975-928-3
Return to Social Science and Current Events List