I am in full agreement, but the state I live in requires by law that liability coverage of minimum $30K be owned by any motor vehicle operator. I have been in a few accidents and always pay out of pocket for repairs, I am wealthy and essentially self insure these issues, but the DMV wants me to show proof of a 3rd party insurer that is taking on the responsibility. Insurance is quite a racket. It is now popular with hedge funds to start re-insurance companies in low tax jurisdictions to get a permanence of capital and low tax on investment gains. Do you have any opinions on this trend?