While that is true, I don't think fraud even comes close to the amount of times insurance is just dismissive of people in genuine need. Like for every guy who burns his business down to collect insurance, there are dozens who just lost a home in a flood that get handed a pittance and told to figure it out. I lived in Hurricane country and you had to have multiple home insurances legally (wind, flood, etc.) and every one of them would refuse to pay because of things like "well the wave of water was caused by the wind blowing, so its not our domain, bye."

Emergencies should not be economically devastating.

The problem is that this is circular logic. If insurance paid out reliably and was realistically affordable, emergencies wouldn't be devastating because they'd be covered by a service you paid for to keep their cost within range of what a normal person can afford.

So it comes right back to insurance being far too expensive and far too stingy, which makes every normal person hate them. They might have some genuine reasons for doing so, but the insurance industry is giga rich which undermines them nickle and diming regular people.

They are a business and out to make money, but when your business is in human suffering and you make your money by telling people to die in pain so you can save a buck you have no moral ground to stand on.