You can have a look in a book titled Thinking Fast and Slow. It is strongly backed by multiple experiences. Profit: it is ok to make profit, but where ifs the limit? Would you agree that companies should not take advantage of children weaknesses to force sell them useless thing (a lot do)? Or mentally deficient ones? I wouldn't, because somehow we are not in a jungle. And the point is that humans are not grown ups in front of rare events. Everyone fears an earthquake during the week following an earthquake, and completely forget about it the next month.

Moreover the fact that insurance are highly regulated just makes my point. We are defenseless and the law puts some limits because a scam is too easy to build.