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Actually, it's not a free market at all. Not even close. The regulations - established by governments, state and federal - are very much tilted in favor of the interests of the companies, not consumers. Barriers to entry and innovation are deliberately set very high to discourage true competition, which is the essence of free market capitalism. The result is a cabal of government-protected oligarchies. This is true not just for insurers but for most corporate enterprises, and is largely responsible for the mortgage-based meltdown of our economy.