I should have been clearer - profit maximization above all else as long it is mostly legal. Neither profit or profit maximization at all cost is nature of everything .

There are many other entity types from unions[1], cooperatives , public sector companies , quasi government entities, PBC, non profits that all offer insurance and can occasionally do it well.

We even have some in the US and don’t think it is communism even - like the FDIC or things like social security/ unemployment insurance.

At some level government and taxation itself is nothing but insurance ? We agree to paying taxes to mitigate against variety of risks including foreign invasion or smaller things like getting robbed on the street.

[1] Historically worker collectives or unions self-organized to socialize the risks of both major work ending injuries or death.

Ancient to modern armies operate on because of this insurance the two ingredients that made them not mercenaries - a form of long term insurance benefit (education, pension, land etc) or family members in the event of death and sovereign immunity for their actions.