Well it's a given bike riders should be licensed and plated. It's insane that in many places bike riders using the public roads don't require 3rd party insurance.
For what purpose other than locking kids and poor people out of the world and worsening traffic and health issues. If 2 cyclists crash in to each other they will cause minimal property damage and any medical costs should be covered by the government.
There are so many other situations where people can accidentally cause property damage that don't require insurance. Its just the cars have a very high risk of causing huge amounts of damage very easily.
With license and registration can also come better enforcement of traffic laws, which would help. Anecdotally, I haven't seen anyone on here support car drivers breaking traffic laws (except maybe minor speeding) but on several occasions seen people defending bicyclists breaking traffic laws- trading safe behavior for convenience.
Additionally, I imagine it would be easier to get (and require) bicyclists to carry catastrophic insurance, since carrying a license would at least go some way towards demonstrating safe behavior. By carrying such insurance, both cyclists and surviving family would be protected from at least some of the financial burdens of accidents.
So, yes on two counts: Incentive for safer cycling and easier access to (and possibly mandated) financial protection from accidents.
It's very hard for a cyclist to hit and run. On a bicycle, even when it's not your mistake, a mistake will usually end up killing or hurting the cyclist. It's not like a car where you can kill a non-trivial amount of people and see zero repercussions.
I should have written most reported, since there can be any number of unreported cases. But the fact stands; you can check with SFPD and SFMTA. I could post 3 more examples, but you'd just claim that there are more that don't flee but somehow evade SFPD documentation.
Maybe we should also require people going skateboarding to be licensed. Or licence people who are running too quickly - who knows, they could accidentally knock someone over. Better ensure they get liability insurance.
There are so many other situations where people can accidentally cause property damage that don't require insurance. Its just the cars have a very high risk of causing huge amounts of damage very easily.