Global Pirates: Fraud in the Offshore Insurance IndustryNortheastern University Press, 2002 - 174 Seiten In 1990, a congressional subcommittee warned of financial knaves and buccaneers in the insurance industry-unlicensed and largely unregulated companies that operate out of countries like Antigua and the Cayman Islands and sell hundreds of millions of dollars in worthless insurance policies to unsuspecting Americans every year. Increasingly, when a fire, car accident, or medical emergency strikes, policyholders suddenly find themselves victims of a global con game as phone calls are not returned and claim settlements fall to materialize, resulting in financial ruin if not physical harm. Global Pirates is a critical investigation of international insurance fraud. Robert Tillman portrays the often surreal world of the burgeoning offshore insurance industry; a world in which sophisticated white-collar criminals operate beyond the reach of government regulators to set up elaborately orchestrated scams that drain illegal profits out of the $3 trillion U.S. insurance market. He also describes how the new global economy allows these scam artists to take advantage of rapidly changing financial markets and the regulatory environments that surround them. Drawing on congressional hearings, co |
Inhalt
Introduction | 3 |
The Alan Teale Empire | 25 |
Opening Up Those Golden Gates | 61 |
Urheberrecht | |
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Global Pirates: Fraud in the Offshore Insurance Industry Robert Tillman Eingeschränkte Leseprobe - 2002 |
Häufige Begriffe und Wortgruppen
accessed August Alan Teale American ance assets Association Assurance Assurance's bank Bessant bogus Brian Lamb British Virgin Islands brokers Buffo Business Insurance Caicos islands California capital Caribbean Chapter company's corporate created Dallas defrauded Department of Insurance deregulation dollars Dominion of Melchizedek Douglas McLeod economic Efforts to Combat EnenKio federal filed financial statements firm Florida fraudulent funds Ginnie Maes health insurance Ibid IC&S Indictment individuals insurance industry insurance market insurance scams investment investors involved issued Kingdom of EnenKio later Legend Sports Lloyd's located MEWAS million Miro National offices offshore insurance companies Omaha Indemnity operated organized Paine Webber passports pay claims percent phony policies policyholders Ponzi schemes premiums promissory notes purchased regulators regulatory reinsurance Ruedlinger schemes Schonacher Senate Committee small businesses sold surety bonds surplus lines tax havens Teale's Texas Turks and Caicos Unicover United victims Victoria Wagman white-collar criminals World worthless Yorke-Wade
Verweise auf dieses Buch
Insurance as Governance Richard V. Ericson,Aaron Doyle,Dean Barry,Diana Ericson Eingeschränkte Leseprobe - 2003 |