The legal concept doesn't feel esoteric to me. In contrast, "companies" creating governments is quite rare in my mind. The historical concept you're referring to was even more of a legal concept. Those companies were individually chartered by their host governments. They might have inflicted something else on their victims, but ... Let's take the East India Company as an example. It might have appeared sovereign at times, but was trivially dissolved by the British Empire.
A company is meaningless without a government and law enforcement. The existence of a barrier is necessary for a company to have practical value as a legal concept.
If I only earn when I treat, then I have an incentive to over-diagnose. Insurance thus forces me to document my diagnoses, and I spend much of my time on documentation and appealing denials.
Democrat leadership and large donors may have moved left, but the voters haven't. Which is why Biden was having trouble with some groups previously thought locked-in Democrat.
I'd bet that the median claim is quite different than the mean claim, because the outliers are so large. Much like the "shocking" statements you hear about wealth distribution -- the largest 10 are bigger than the bottom 50% or similar. That's how log-normal distributions work. Though of course the Gini coefficient can vary.