1991 1992 - GOV (Senate) - Efforts To Combat Fraud And Abuse In The Insurance Industry

  • 1991 1992 - GOV (Senate) - Efforts To Combat Fraud And Abuse In The Insurance Industry, Sam Nunn (D-GA)  ---  [BonkNote]
    • Senate - Committee on Governmental Affairs - Permanent Subcommittee on Investigations
    • VIDEOS-? - not on CSPAN
    • 1991 0424 - GOV (Senate) – Efforts To Combat Fraud And Abuse In The Insurance Industry – Part I - [PDF-1027p-GooglePlay]
    • 1991 0626 - GOV (Senate) – Efforts To Combat Fraud And Abuse In The Insurance Industry - Part II - [PDF-471p-GooglePlay]
    • 1991 0719 - GOV (Senate) – Efforts To Combat Fraud And Abuse In The Insurance Industry – Part III- [PDF-457p-GooglePlay]
    • 1991 1017 - GOV (Senate) – Efforts To Combat Fraud And Abuse In The Insurance Industry – Part IV- [PDF- p-GooglePlay]
    • 1992 0429 and 0430 - GOV (Senate) – Efforts To Combat Fraud And Abuse In The Insurance Industry – Part V - [PDF-1419p-GooglePlay]
    • 1992 0702, 0729 and 0730 - GOV (Senate) – Efforts To Combat Fraud And Abuse In The Insurance Industry – Parts VI and VII - [PDF-685p-GooglePlay]
  • 1995 - SOA - WHAT CAN WE LEARN FROM COMPANY FAILURE - 14p
  • part 5 -  Let me quote Tom Gallagher, who then was Florida's insurance commissioner, in his 1992 testimony before a U.S. Senate Committee talking about Guarantee Security Life:
    • My initial conclusion is that Guarantee Security was almost from the beginning a massive fraud, aided and abetted by blue-ribbon brokers and licensed professionals motivated by their own self-interest.
    • The fraud of Guarantee was a carefully-orchestrated bank robbery, but the thieves disguised themselves with the help of accountants, brokers, and lawyers rather than wearing silk-stocking masks.
    • They operated like early 20th century barons, cloaking their thievery in the guise of a sound business organization.
    • So it's not all just bad management. Some of it, at least in Commissioner Gallagher's opinion, was thievery.