Opinion: The lessons of AmTrust #1

Just over a year ago, AmTrust was on a high. The firm was on track
to reach over $8bn in premium, was the second largest workers'
comp insurer and had seen its stock increase roughly 10x in value
over the past decade.
To many observers, the firm's sharp-elbowed management were
geniuses, and stood as a counterpoint to other conservative and
slow-moving insurance companies.
AmTrust broke with conventional wisdom on growth and
aggressively rolled up distressed assets - arguing it simply...