Vulture Culture: Dirty Deals, Unpaid Claims, and the Coming Collapse of the Insurance Industry Book

In this book, insurance lawyer Eric D. Gerst defends his stance on the need for federal regulation of the insurance industry. His argument is swift and compelling, and he backs all claims with significant research into the insights of industry leaders as well as the anecdotal experience of many consumers. To say that the material in this book is quite shocking would be a gross understatement, unless you or someone you know has ever been burned by the insurance industry. Sadly, too many Americans have had negative experiences with their insurers, making the included anecdotes that much more compelling, as they stand for a common experience rather than an anomaly.

Perhaps the most valuable element of this book is its inclusion of a viable solution and plan of implementation. Rather than simply identifying the current issues, a point to which many authors seem to limit their analysis, Gerst includes and supports his opinion of the best possible solution. The book is thus quite biased, but not undeservedly so. Because Gerst is able to so strongly defend his position, his platform becomes a good launch point for further discussion and, hopefully, eventual implementation of insurance industry reform (whatever that reform may ultimately be).

One of Gerst's greatest strengths as a writer is his conciseness, even brevity. At the end of chapter 9, rather than offering a lengthy summary of everything he has discussed in the preceding pages, he concludes by stating simply, "The options are on the table. We need to act." His agenda is clear throughout the text, and he does not mince words trying to make anyone feel good about useless options. I admire that approach. Even though it may not win him friends among his opposition, it is ultimately a far more utilitarian approach for reducing confusion and wasting less time.

This book is also especially valuable as a teaching tool for those that may be unfamiliar with many of the intricacies of the insurance industry. Gerst writes with simple yet compelling prose that offers a wealth of specific details in a straightforward and uncomplicated manner. While industry experts may find the inclusion of such detail somewhat tedious and redundant, it provides a significant boon for the average reader not previously familiar with the complexities of industry laws and regulations. This book forces readers to take a good hard look at the current state of affairs in the insurance industry, and contemplate the specific types of reform that will help the industry avoid meltdown and move toward success for insurers, the insured, and state and federal regulators alike.