AIG’s Private Firefighters
Monday, September 28, 2009
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.