I gave a talk on this to some smart high school students. Their main objection was not wanting those who seem to insurers more likely to commit crimes to have to pay higher crime insurance premiums.https://twitter.com/robinhanson/status/1025853613611122688 …
Maybe efficiency ought to be subordinate to other values, like limiting the ability of the powerful to harm the weak.
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I don't at all see how letting insurers price risk accurately helps the powerful to help the weak.
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Insurers have incentive to collude with Congress to adjust the criminal code in a way that maximixes to profits they collect from premiums. I don't see why they would try to accurately price risk when they can instead get Congress to feed them more money by criminalizing things.
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You don't understand how competitive insurance markets work.
End of conversation
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