This is actually a field where competition is working as it should: cars are reviewed based on their safety rating which are common in the industry, car insuran

This is actually a field where competition is working as it should: cars are reviewed based on their safety rating which are common in the industry, car insurance is also based on that. The law is also very strong, there are strict road and driving regulation, so there is little chance for externality like "oh yeah, sometimes cyclist die around our car", ... Really looks like the ideal environment to let the private sector figure it out by itself, no need for more government.