AIG Insurance

AIG's Bailout Get-a-way Plan

Well as I use AIG as an insurance provider to myself after they purchased 21st Century I do not think I want to continue to be aligned with a company that makes headlines as above. Last night I started looking for new insurances, and today I will be switched over to a new plan with a different company. I originally purchased my insurance from 21st Century about 4 or 5 years ago. I went from spending $3000 a year in full coverage for a Toyota Camry to about $1300 a year for full coverage on a Toyota Avalon. Pretty dramatic price savings I saw switching from Progressive to 21st Century. In the last six months I found out when having to make a payment that AIG took over 21st Century.

In my own opinion when you are request assistance from the government to help your company to survive you do not take $500,000 company trips to get pampered. You look where you can cut cost, and areas you can save money in without shrinking your work force, and without providing your customer with a lesser experience. When you're company is in need of 85 billion dollars you don't spend half a million on a retreat (compared to $85 billion that is like nickles and dimes). You probably shouldn't be giving out the crazy bonus of millions and millions of dollars to the CEO and other leadership for the company. Obviously they aren't leading the company in the right direction if they are needing a bail out. Yes, the economy is bad, and it's not their fault. But they are responsible for the company, and I know some companies will flourish in these rough times as they will step up, and provide that extra customer service, and go that extra mile to keep their customers.

Anyways, what I'm trying to get across here is companies like this is the reason that our economy is in the place that it is. They are to busy creating a lavish lifestyle for a few executives, and throwing them millions of dollars when it really isn't needed. Yes the executives should be taken well care of for leading a business to success, but on the other hand if they are leading the business to become a flop they should go down along with it. Just think if you were an employee of AIG and was told we're going have to lay you off because we can afford to pay you, or your benefits. Then you come to find out that you've been laid off while these executives are spending what you make in 15 years on a weekend get-a-way.

Happy Hump Day,
Eric N Cincy