Insurance companies are not doing well in terms of profits: https://www.spglobal.com/marketintelligence/en/news-insights...

I understand people's frustration at expensive premiums, but increasing the regulatory burden, and instituting price ceilings will only further reduce the number of options available. Also, insurance is a highly competitive industry, with institutionalized competition (enforced by brokers), and it's a bit ridiculous to pretend that clients are loyal to providers.