Journalist McKenzie Funk reports on AIG’s use of private firefighters who fight only the fires that menace AIG-insured houses. More severe wildfire seasons have made it possible for insurance companies to hedge, dilute, distribute, and disperse additional risk, allowing companies like AIG to expand rapidly. His article, "Too Big to Burn" appears in the October issue of Harper's Magazine.
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McKenzie Funk
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Comments [6]
I have heard of Volunteer Fire Departments in rural areas responding to a fire.
If there is no plaque showing that home owner is s donor, the volunteers drive away.
Do programs like this exist in civilized countries?
Are there any issues with this since AIG is owned by the government
Aren't they technically government contractors since AIG is owned by the government?
I fail to see what is wrong with this. If AIG is looking out for its investment by limiting the damage of fires, what's the problem.
Plus, they are now owned by the government. The less they have to pay out, the better it is for the tax payers.
Do they just let the neighbors' houses burn because they arent covered by AIG? They just stand around and watch, and make sure that the insured house doesn't burn down?
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