You are confusing insurance with liability. If a cyclist causes damage you claim off the cyclist, to show how hysterical you are about the subject you can't even find a single example of a cyclist causing an unrecoverable loss. Big problem, you reckon. Yet you can't find a single verifiable example of it ever happening..
So just because a cyclist does not cause uncover able loss , it is perfectly ok to cause recoverable loss ? ie, a deliberate law breaking RL jumping cyclist mowed down an elderly Asian lady In Putney ,abused the pedestrian and then left the scene. So three laws broken
Jumped Red Light
Caused personal bodily harm ,injury to pedestrian
Left the scene of an accident
witnessed personally ,
its obvious that cyclist cannot do the same amount of damage, but it is still illegal ,dangerous and damaging ,