Edwards!

They won't go down because the number of frivolous suits will go up. Ambulance chasers will go for quantity over quality. The option of making less will NOT be an option.
Believe it or not, if you like, not all insurance companies are just out to bleed everyone for everything they can.
I was told, often, to do the right thing for my clients, and always did what was right for my clients. If someone tried to buy too much insurance for their needs or for what they could afford, I told them not to. I did this on a weekly basis. I was present for several sessions where claims adjusters told clients not to sue because they had been indemnified.
The "evil, blood sucking, soulless insurance companies" is a myth. The profit margin for most insurance companies is tiny compared to retail and other businesses.
When looked-at for what it is, it is one of the most altruistic forms of business out there.
The company assuming risk for the individual by investing for them and taking a loss in case something happens to the many in the short-term... that is the business plan. The rates are controlled by the state, "they" do not just raise rates as they like, your elected officials do that. Most companies only put in for a rate change when they have to, if they raise rates and are not competitive people & businesses leave to go to more competitive/cheaper companies... it is not like we get to charge what we want. There is no OPEC of insurance. No one company knows how another underwrites or has their prices like they do and those secrets are held VERY tightly. (This is why Progressive's ad campaign is such a huge lie and joke)
Urban myths fuel the common idea of what insurance companies are.