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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.

Guests:

McKenzie Funk

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Comments [6]

Ray Normandeau from www.Queensbridge.us

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.

Sep. 28 2009 10:39 PM
Richard Johnston from Upper West Side

Do programs like this exist in civilized countries?

Sep. 28 2009 01:43 PM
Dave

Are there any issues with this since AIG is owned by the government

Sep. 28 2009 01:41 PM
Mike

Aren't they technically government contractors since AIG is owned by the government?

Sep. 28 2009 01:39 PM
JD

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.

Sep. 28 2009 01:38 PM
Jason from Midtown

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?

Sep. 28 2009 01:34 PM

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