I agree. with mneeley490, I even found small blocks of polystyrene (packing foam) in the walls within the polyurethane insulation that was in contact with the interior walls of the cooler. definitely a toxic fire hazard. If I tried using it without changing the insulation it would've melted for sure. Scrapped that particular smoker build for the fridge pictured above, was too much work.
Its a cooler and not designed for heat retention and fire resistance, very highly likely the insulation needs to be replaced. Have yet to see one that didn't have to be. Unless its rock wool or fiberglass insulation. But then that usually a heating cabinet anyways.