Unfortunately, uppity folks like you really seem to like to dismiss any new idea or concept.  Either you must be a Punahou graduate or a very old person who cannot accept new concepts or ideas.  This solution works fine, in the real world.  Let me clue you in to reality, the concept of using insurance to serve a public purpose has been used many times.  Remember hurricane insurance?  This insurance proposal would be self regulating, a concept lost on the very stupid.  The insurance companies would simply start to deny policies to those who lie about being in compliance with the law.  Business people are rational, loosing a house or condo investment no longer becomes a good return if it can be easily taken away by a law suit.  Also, no financial institution will give a mortgage for an uninsurable property.  The trial lawyers will drool over the easy pickings, no insurance company lawyers to deal with.  So no need any gov't folks, self policing works.