IMHO, state insurance regulators should only ensure that the companies have adequate statutory capital to underwrite policies in their state, so that snake-oil insurance companies don't simply file bankruptcy when there are many claims to be paid. Laissez faire, buyer beware capitalism fails here because people can't be expected to become expert in analyzing insurers' financial statements.
The regulators should NOT be in the business of determining premiums, what policies can or cannot be written in a particular state, etc., however. The private market can deal with this just fine. People can then shop based upon prices and coverage while being assured that the companies will have the dough to pony up when the time comes.
the private marke is not dealing and can not deal as long as insurance is mandatory.
You have no "down pressure" if the product is mandatory.
insurance is not a free market industry.
you can not buy a home without insurance period.
and no you can't just say sell and move because we are not a nation of illiterate dessert nomads in tents. We have homes, jobs and family which mean we don't "just move" to some nowheresville small town.