21 years of Mismanagement, Corruption, Broken Promises and Shattered Lives

National Underwriter Life & Health Investigates the Rehabilitation of ELNY

Nov 12, 2012, 14:15 ET from Summit Business Media

NEW YORK, Nov. 12, 2012 /PRNewswire/ -- In its November issue, National Underwriter Life & Health, a Summit Business Media publication, featured an extensive investigative report into The Saga of the Executive Life Insurance Company of New York (ELNY). Spanning more than 20 years, the rehabilitation of ELNY was an exercise in gross bureaucratic mismanagement, which turned an otherwise healthy insurance company into a financial black hole, ultimately cutting off long-term financial support to hundreds of structured settlement annuitants who have come to depend on their annuities to live.     

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The Complete ELNY Saga: 21 Years of Mismanagement, Corruption, Broken Promises and Shattered Lives tells, for the first time, the complete story of the life insurance industry's biggest corporate failure, and the damage that was wrought because of it. After twenty years of silence, National Underwriter exposes how regulatory failures across the board are resulting in the financial destruction of hundreds of innocent families.

"The National Underwriter Life & Health team spent hundreds of hours poring over financial and legal documents, interviewing sources and piecing together a 21-year history of one of the most infamous insurance insolvencies of all time," said Bill Coffin, Group Editor-In-Chief for the Life Health Group. "The Complete ELNY Saga is a story anyone who writes, sells or buys insurance should read. It is more than a cautionary tale. It is a red alert to how what happened to one unfortunate life insurance company and its customers could happen to any other company. It is a story of how insurance itself has been put at risk."

For more information or to read the Complete ELNY Saga, please visit http://www.lifehealthpro.com/pages/elny or contact Bill Coffin at bcoffin@sbmedia.com.

About National Underwriter Life & Health
As the total news source for the life, health and financial services industry, National Underwriter Life & Health is uniquely positioned to provide agents and brokers with timely, insightful information. With the largest, most experienced team of editors in the industry, National Underwriter Life & Health is able to identify, analyze and comment on the latest trends and events for their significance to the market every business day. Available in print, online and via LifeHealthPro.com eNewsletters, National Underwriter Life & Health helps life and health agents navigate the specialty markets and sort through critical developments whenever and wherever they are in their day. For more information, please visit LifeHealthPro.com/National-Underwriter-Life-Health.

About Summit Business Media
Summit Business Media is the leading B2B media and information company serving the insurance, financial services, legal and investment advisory markets.  Summit strives to be "The Next Generation of Business Information" for executives and practitioners by providing breaking news and analysis, in-depth practice management strategies, business-building techniques and actionable data.  Summit services the information needs of its customers through numerous channels, including digital, print, and live events.  For more information, please visit SBMedia.com.

SOURCE Summit Business Media