Read more here:Imagine if the government required automobile drivers to purchase liability insurance against the Worst Case Accident: totalling a 2010 Maybach Laundalet with four newly-minted orthopedic surgeons aboard. Worst case liability: $50 million or so.
With a $50 million liability insurance requirement, who would drive? Only the wealthy.
The Deepwater Horizon incident pointed up the inadequacy of the Oil Pollution Act of 1990s $75 million economic liability limit for operations involving high pressure, high-volume deepwater oil.
Some Congressional Democrats would like the liability cap to be set at $20 billion; some want no cap at all. They dont even acknowledge the fact that shallow water operations are orders of magnitude less risky than deepwater oil; to them, an offshore well is an offshore well. . . . .
How to Kill an Industry, or: Hello $8 Gas! | RedState
Moral of the story. If the Federal government can force you to buy healthcare insurance, it can force you to insure anything.
Do you approve of that?