The man at the center of it, John Pallat, runs Unicover Managers, an insurance middleman based in South Plainfield, N.
FORBES: Passing the Trash
2.
As a middleman, Pallat's Unicover could reap a 7.5% fee of all the insurance it underwrote, while passing along almost all of the risk.
FORBES: Passing the Trash
3.
Pallat III, a former risk management instructor at Georgia State, initiated a complex and convoluted insurance scheme two years ago that seems to have done just that.