AIG

Wed, 2008-09-17 09:19Richard Littlemore
Richard Littlemore's picture

Big Government: Darn Handy in a Crisis

Slavish devotees to the free market must be mourning the news today as the U.S. government steps in to rescue the insurance giant AIG and (we're still hoping) to forestall a worldwide financial crisis.

This is what government does: it saves us from ourselves and from disasters we cannot anticipate. Good governments try to get ahead of that curve, setting policies and regulations that prevent totally stupid or predictable crises. I think its fair to say that this event suggests that good government has, recently, been in short supply.

Wed, 2006-08-23 10:58Kevin Grandia
Kevin Grandia's picture

AIG to insure against losses due to climate change

America Public Media and Fortune are both reporting today that AIG, one of the world's largest insurers, will shortly announce new insurance products aimed at covering losses due to the effects of climate change.

This echos earlier statements made in a report by Marsh , the world's largest insurance broker, last spring:

“Climate change - often referred to as 'global warming' - is one of the most significant emerging risks facing the world today, presenting tremendous challenges to the environment, to the world economy, and to individual businesses.”

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