Because insurance is basically a for profit scam. Many provinces have nationalized car insurance. Why not other areas?
Sure can be for government. In 2010 the BC government passed legislation that allowed it to syphon off ICBC earnings into general revenue and proceeded to transfer 1.2 billion in ICBC assets to government. Even though the company has lost money for the past three years, the government has continued to take 150M a year from its revenues. Now the company is over 600 million in the hole and looking at big premium increases or an injection of funds from government in order to stay solvent. The BC government also raids BC Hydro assets in a similar fashion.
When you nationalize something, it also becomes a political tool used for purposes unrelated to the service it provides.
http://globalnews.ca/news/2890769/b-c-government-crown-cash-cows/
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