The one thing I would proffer is, never regulate insurance companies.
I've heard such solemn men as U.S. Senator Schumer refer to market activities as being "gambles." As if gambling were a bad thing. Gambling is a necessary component of market capitalism.
What is a thing worth?
Before I attempt an answer, let me ask you, what do you know about what determines price? I really want to know what you think determines price. A discussion of value without an understanding of the determinants of price is a discussion of art without sight, sound, taste, touch or smell.
Let us have a discussion of what determines the price of a thing.
Unless we have a discussion, we can never understand how far we've lost the concept of price in determining how we behave. When anything is free, there can never be enough of it.