Vulture Culture: Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry
Product 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 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.
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This book is a must read. It gives a clear picture of just how faulty the insurance business can be because of cracks in laws related to insurance. The author not only shows you where we could end up in insurance, he also gives simple practical solutions to make the insurance industry better and more secure, especially for consumers like you and me. This book is compelling and is full of stories and examples everyone can relate to.
Rating: 5 / 5
Vulture Culture: Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry
This is a timely and important book. Although insurance companies have been getting much bad press the last few years, especially after Hurricane Katrina, this is the first place it has been this thoroughly documented in one place. It’s well-written and easy to read. The author doesn’t solely regurgitate facts but goes through numerous case studies so you can see countless individuals have been sacrificed to corporate greed and corruption. The title seems a little over the top, but is based on an actual award given out by an insurance company for people who cut down on claims!
Before reading this book, I wasn’t sure insurance companies deserved all the bad press they’ve gotten. Now I know they deserve even more than they get! I was really saddened to read about the heart-wrenching stories related to long-term care and sick children.
Caveat emptor when buying insurance. Read the fine print in your policies carefully, and check out your insurance company. Consumer ratings can be eye opening.
Rating: 5 / 5
Vulture Culture: Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry
This is a very interesting read of some very timely issues in the insurance issue. It is also a strong argument for the Federalization of the Insurance Industry by someone who has been involved in the legal side of the industry. It will be interesting to revisit the premise of the book in five years from now.
Rating: 4 / 5
Vulture Culture: Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry
I knew from the title that this wasn’t going to be an insurance industry snoozer. The stories are at the same time gripping and maddening, portraying an absolute mess and one-sided system – like a movie plot, but unbelievably, real! The end proposes solutions that make a lot of sense and give you hope that this crises can be solved before the industry implodes.
It’s a fast and great read – everyone should buy an extra copy & mail to their government representative – send a 1-page summary to George W. in case he doesn’t read it!
Rating: 5 / 5
Vulture Culture: Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry
In this tough economy everyone is watching their spending, trying to make that buck stretch just a little further, and insurance companies are no different. If you have ever had to make a claim, you may already be aware of the problems associated with getting what is fair. The people effected in some of the recent disasters, Hurricane Katrina, Rita, Wilma, Gustav, Ike and the California wildfires, know all too well what it’s like not to receive a fair claim payment from their insurance companies, you’re better off believing a poker player than a insurance claims adjuster in most cases. Many insurance companies are constantly under investigation by the department of insurance and have paid large fines and settlements for unfair claims practices, just run an advanced search on your insurance carrier and see just how many lawsuits have been filed against your insurance company for wrongfully denied claims, minimal pay outs, bad faith and many unfair claims tactics.
Historically the insurance industry is known for taking advantage of storm victims by doing such things as delaying payments and not showing up to the property in a reasonable time to inspect the damage, even when they promise a 24-hour response service. “You’re lucky if you hear from your insurance adjuster three weeks after the hurricane makes landfall,” says Steve Slepcevic Read your policy carefully before the disaster happens and read this book among others to avoid the pitfalls…
Rating: 5 / 5
Vulture Culture: Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry