They are not wrong. Insurance with perfect info ceases to ne any form of a recognizable social good. In fact, it just becomes indistinguishable from a sanctioned form of populational segregation, instead of the pull-a-long stick-with-carrot through which risk is mitigated against long tail events through active propagation of best practices as a condition of coverage.
Insurance companies should be exposed to the same level of risk as anyone else, which includes having things boow up in your face if you mismanage your float.
Insurance companies should be exposed to the same level of risk as anyone else, which includes having things boow up in your face if you mismanage your float.