Is that a bad thing? If an insurance company calculates the risks and comes to the conclusion that it's too expensive to insure your stuff then maybe your stuff is shit?

I know a guy who calculates such risks - at the core it's basic maths and common sense. He can give very detailed and based explanations why there's no incentive not only for the company but also for society in general to insure shit: It simply destroys value.

Don't do shit, and you'll have insurance.