Comment by samatman

It's a fair comment, but I want to note that insurance in business and insurance for individuals operate on a rather different basis. Insurance companies are better behaved when they know they have to be, and businesses as a class are able and willing to pursue their interests in court.

The great success story for underwriting is consumer electrical devices, where Underwriters Labs was responsible for many decades in which such devices didn't burn people's houses down. That's been undermined by lax global trade policies, I no longer even trust that a UL logo on something means UL was involved, it might easily have been added in China.

It's worth reading up on the organization if one hasn't already. It makes a good case that we need less regulation and mandatory, ubiquitous underwriting. https://en.wikipedia.org/wiki/UL_(safety_organization)

It's understandable that many people hear "we need less regulation" as "corporations should have more carte blanche to screw everyone over", but I sincerely believe this would both reduce friction and cost for business, and maintain or even improve the standards for safety and the environment which regulation is intended to provide.