If insurance companies were not regulated industry, I would agree completely. When the state grants them a license and lets them overcharge for their services, with the protection of the state, then I have questions.
When an industry receives the protection of regulation, it should not only be subject to the liability the state wants them to accept, but serious limitations of profit. They can always choose not to do business at all in the state.
Did somebody in FR post something like that?
Hey, "regulation" is not "protection". It is "extortion", using the power of the state to obtain unearned benefit for somebody somewhere.