Also insurance companies set minimum pilots requirements not the company generally...
I would highly question this; Insurance companies interest extends only to hull losses, loss of life and accidents/incidents resulting in hull damage, etc. Of course, not forgetting protesting their own interests!
Any link to pilot employment standards would only be a consideration if/when it can/could be shown this is a significant, continuing contributing factor.
Supply/employment of pilots is subject to the laws of supply and demand where airline operators have had a very good time since Frank Lorenzo and his ilk, the accountants, bankers and of course Airline Mangers (i.e. Clerks) took over running the industry where all airline workers (including pilots) have been right royally screwed with their salaries, working conditions very significantly reduced. Airlines have never had any compulsion or pilot considerations when furloughing, retrenching or reducing pilot numbers.
And let us not start on the effect of HR!
This without noting the above managers, bankers and accountants have ensured their salaries, conditions have continued to improve significantly.
Pilots similar to any other workers will (and should) continuously assess the quality of their salaries, working conditions when applying for a position and thereafter; should better opportunities a be available it becomes their decision whether they will move and improve their lifestyle and the lifestyle of their families.
It is incumbent upon airline operators to provide attractive working conditions and salaries to enabling them to hire and keep good people.
As previously pointed out airlines in the past have employed pilots with minimum hours successfully training them to become highly competent multi-engine jet captains accepting this was a cost of running an airline (that is until Lorenzo etal)
There are airlines today who employ people to be pilots train them and put them in the right hand seat with a bare 250 plus hours.
Why are Australian airlines operators no longer capable of doing this?
What makes Australian airline operators so different from other airlines around the globe?