Most children don’t grow up dreaming they will be insurance agents or involved in the insurance business. I have read many insurance industry materials that have tried to teach bright and talented collegians that the insurance business is an important, fulfilling and financially rewarding career. Corey Harris forwarded me an article indicating that there are some other perks for those in the insurance industry that are not mentioned in the recruitment materials.
In German Insurer Treated Top Agents to Bathhouse Sex Party, it was reported that a subsidiary owned by Munich Re had a unusual view of acceptable employee benefits:
Hamburg Mannheimer International (HMI), now part of the prominent international insurer ERGO, took 100 of its best employees to the Hungarian capital on an incentive trip in June 2007… There, the company rented out the historic Gellért thermal baths and transformed the spa into a brothel…
An ERGO spokeswoman admitted that company research had confirmed the sex party took place, calling it a "grave violation of company rules." The responsible board member and other managers have since left the company, the spokesperson added.
But guests from the party told the paper that a number of company leaders present that night remain employed by ERGO, which is owned by leading re-insurance company Munich Re.
In Claims Practices–What Really Concerns Insurance Companies, and Is Claims Management Only Concerned About Overpaying Claims?, I wrote that wrongful insurance claims practices are often motivated by company culture in which unethical conduct is tolerated or rewarded. This example of an insurance company providing a hundred "of its best employees" with an incentive that is unethical and, in many places, illegal, proves that corporate culture can drive many to commit and tolerate unethical acts as a group. As analyzed in Covering Up Wrongful Conduct–Are Consultants Telling Corporate Clients To Act Like The Mafia?, most wrongful insurer conduct – and the motivation for it — is never disclosed.
So, to give some Monday relief to everyone, how about a view of wild and crazy guys that could be just like those European insurance executives: