There will not be any laws like that because the world has insurance companies that underwrite the base insurance.

For instance QBE-Australia,  underwrites lots of insurance of all kinds, auto, liablilty, etc.  Same as Chubb and others, the distinction
part is they are underwriters, and that is what is world wide.  They need a large pool too offset the risk.

Check out news on the California wildfires and the huge losses occurred in the past few years.  Only worldwide companies 
can handle those huge risks.  It is spread out over a large base.