If you sell something in the US, and a customer sues you, going to court and saying you are not accountable because the work was performed by someone in another jurisdiction is not going to go well for you.
The only time that works if you have no assets or presence in the US, or I guess you have an in with the US president.
It is about a.) avoiding criminal liabilities for frauds by the insurance company b.) facilitating desirable fraud by employees while keeping plausible deniality.
It is super hard to build class cast action and suing companies for denied insurance claims is also quite hard - and super expensive. Besides, the current management dont need it to go on forever, they just need it to go on for now. If company gets to pay fine 20 years later and you already pocketed the bonuses and salary, why would you care?