Villains Are Made, Not Born.
We should fight, not play victims.
For nearly a decade, AmTrust Financial (Amtrust) was America’s fastest-growing insurer. As it piled up premium revenue and became a leading workers’ compensation carrier, AmTrust shares soared from $4 to a 2015 peak near $36. Chief executive and Chairman Barry Zyskind brushed aside questions about AmTrust’s accounting, until New York insurance regulators pressured the company to hire new auditors in 2016. The next audit discovered $310 million in previously-overstated profits and obliged AmTrust to restate five years of financial reports.
In 2018