It does not make sense to license and insure cycling.
Using licensing and insuring cycling as an argument for somehow holding cycling accountable is a fallacy. It holds no basis in fact, it’s a distraction from bad driving habits. Being licensed does nothing to stop motorists from rolling stops, rolling right turns or blocking crosswalks at red lights, and of course, driving at speeds over the posted limit. These kinds of actions in an automobile kill people, and cause costly accidents.
Why does driving a car require a license? Why are drivers required to be insured? Is the government out to punish people who choose to drive a car?
Cars are expensive, and dangerous. People take out loans to pay for them, and at times put maintenance on credit. The debt a car leaves behind if it’s destroyed can take people’s lives down with it. That’s why they’re insured. Cars driven carelessly kill people. That’s why they’re licensed. Bicycles do not share these problems. That’s why they are not licensed or insured, and why it does not make sense to do so.