Insurance as a private industry is so stupid. They extract profits to protect people from catastrophic losses, but then when something catastrophic happens, the government has to step in to save the industry. We've seen it with the risk pools that states have had to create to keep health insurers from pulling out of rural areas, with last resort programs for home insurance and flood insurance, the AIG bailout, and the built in bailouts of Obamacare.

Why do they get to collect the profits if they don't cover the risks?