You're obviously pretty low down in the your company or simply trying to make your own industry look good. To say that insurance companies are completely innocent and blame any problems on the regulators is laughable. They have tons of control in what they cover and how they communicate to their clients and other stakeholders.
Insurance is a complete racket. Probably the 4th biggest racket out there, after our military industrial complex, the banking industry and health care industry.
I always tell people to just get the minimum insurance that you can,, don't EVER purchase life insurance, and just save money instead.
These insurance companies make money hand over foot and they push laws that create significant barriers of entry to competition.