Perhaps we should be looking more at the experience levels of the Captains rather than the copilots ? Low experience first officers have always been around and always will be. Many countries don't have a huge general aviation sector or military from which seasoned pilots can be sourced and end up putting someone straight from flight school into the right hand seat.
Wide body aircraft are generally flown by more experienced pilots but the overall operation is easier. A B777 Captain will usually have an experienced F/O with him and be flying to major airports with radar control, ILS and a long runway. A B737 Captain will often have a 200 hour F/O in the right seat and be flying to a secondary airport with no radar control, a non precision approach and a short runway. Of course there are exceptions to this, I'm speaking in general terms.
Obviously the insurance risk is higher in the event of a heavy jet accident but the chances of having one are lower due to the above and the fact that they perform far fewer flight cycles, ten hours for one take off and landing vs ten hours for ten take offs and landings.
The narrow body Captain works harder, faces greater demands on his skill but gets paid less. Perhaps the initial command should be on a wide body in a relatively easy operation with promotion to narrow body a few years later when some command experience has been gained and the Captain is better equipped to fly into more demanding airports with brand new copilots. Unfortunately this wouldn't be possible with single type airlines such as Ryanair or Southwest Air and would be difficult given the pilot shortage and expansion in air travel.
Generally the risk of a low experience copilot can be mitigated by pairing him with a very experienced Captain who can cope with the extra workload which can be placed on him when the F/O is out of his depth.