Even though I can read my way through many obscure and complex subjects such as mathematics and philosophy written by philosophers, I seem incapable of reading more than the first few pages of an insurance policy. The writing seems designed to so dull the mind that no member of the consuming public will be able to read it, thereby disguising all of the “get out of jail free” cards that the insurer has planted within the policy. This is not the case with Inside the Insurance Industry by Kevin L. Glaser. While Glaser does not quite climb the hill of making all of that understandable, he does manage to do a great deal of explaining in a manner that can be understood by nearly anyone. He explains the role of all the players in the marketing and managing of insurance, specifically why costs for a common product can vary and how prices for insurance should be set.
Although he does voice some criticism of the industry, Glaser is not an insurance company basher; he understands and explains the valuable role that insurance plays in modern societies. Furthermore, he also points out some of the areas where insurance companies often fail to do all of what they should for their customers. A short and effective explanation of how insurance must be a part of your everyday life as well as a peek behind the scenes, this is an excellent primer on the role and occasional failings of insurance in our lives. While it is an industry that is easy to criticize, it is essential to avoid complete catastrophe when something goes wrong.