Guessing we're gonna end up with some nonsense like: the private for-profit companies will continue to exist and make obscene profits by finding ways to deny claims. And, to ensure they continue to provide that "service", the government will make up the difference (i.e. basically all) whenever the payout gets too big. So then eventually the only people who can get insured are people with property worth much more than the government limit. After all, this affects rich people!